Capturing favorable US/CAD conversion
My Escape 19' won't be completed until January 2014. Right now the conversion is 1 CAD = 0.9507 USD. Have any US buyers set up a bank account in Canada to deposit funds for their future purchase while taking advantage of favorable conversion rates? My thought is that this is kind of like dollar averaging in the stock market. (When the market is down, purchases are like buying stocks on sale) So, if the trend is that the USD is getting stronger, you hold off depositing into Canada, but if the trend reverses, you make your deposits.