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Old 02-24-2016, 02:39 PM   #31
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I have a US bank account and credit card. I put a bunch of money in it back when our dollars were close to par. That worked out for until the funds ran out, and at the rates now I am not likely to top it up anytime soon.

If you are to put funds in a Canadian account now, with thoughts the disparity is not likely to widen, then whether you spent it on a trailer or any other expenditure in Canada, or cash it out, you would have the same resultant.

Basically the main reason to buy Canadian funds now is because you think the Canadian dollar will strengthen more by the time you plan to spend it. If you think the rate will remain the same, or that the Canadian dollar might drop, then it is of no advantage to buy more.
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Old 02-24-2016, 02:57 PM   #32
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There is an article this morning on the Internet that one of the leading experts on Canadian monetary policy stated that he believes that by the start of 2017 the Canadian dollar will drop to the level where the Canadian dollar will be worth 0.59 US dollars . There also was an article today by another expert who thinks the Loonie has bottomed out versus the US Dollar and the exchange rate will rise where the exchange rate will be 0 .76 US dollars to $1 Canadian dollar by the end of 2016. Which prediction is correct is hard to say with the fluctuation in oil prices .
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Old 02-24-2016, 03:02 PM   #33
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Oil dropping again and one of the large "oil sands" companies is planning to increase production ( and cut staff ) in the face of OPEC not cutting production.
Loonie and oil prices generally take the same course.

And then there is this: http://www.cbc.ca/news/business/cibc...cast-1.3461820
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Old 02-24-2016, 03:04 PM   #34
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This is a fun chart to watch it historically
XE.com - USD/CAD Chart
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Old 02-24-2016, 03:51 PM   #35
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This is a fun chart to watch it historically
XE.com - USD/CAD Chart
Apparently your idea of fun and mine are quite different
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Old 02-24-2016, 04:00 PM   #36
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I like to follow international money. CDN is 73 cents today, has been that for the past several days too.
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Old 02-24-2016, 08:58 PM   #37
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I am thinking about opening a Canadian bank account if we are serious about ordering a trailer for delivery over a year from now. Did anyone do this? The obvious disadvantage would be if we didn't get the trailer and had to bring the dollars back with a different exchange rate (or spend the money in Canada in a different way!) But, I'm pondering this. I am a Finance person. But, I need to research a lot more. Just curious if anyone has done this.
You might want to read up on the IRS regulations. I know there is a question about foreign bank accounts in turbotax when I do my taxes. Since I don't have any foreign accounts, I don't pay attention to what it means. They probably just want you to report the interest.
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Old 02-25-2016, 11:26 AM   #38
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Hi: All... Bad enough to have to use Canuck Brass Bucks to buy groceries here in Gulf Shores Ala. but to pay tax on the entire bill hurts!!! We exchanged dollas back in the summer when all the "Snow birds" are back home too!!! Alf
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Old 02-25-2016, 02:42 PM   #39
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Hi: All... Bad enough to have to use Canuck Brass Bucks to buy groceries here in Gulf Shores Ala. but to pay tax on the entire bill hurts!!! We exchanged dollas back in the summer when all the "Snow birds" are back home too!!! Alf
escape artist N.S. of Lake Erie
I get the same feeling everytime we go fishing in Canada and have to pay 13% HST or $5 for a small bottle of catsup ! .
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Old 02-25-2016, 03:04 PM   #40
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There is no sales tax on food products in Canada.
Buy paper towels and you will pay HST or GST plus provincial sales tax, or in Alberta, GST.
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