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Old 06-03-2015, 08:40 PM   #1
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Buy now for favorable Canadian exchange rate?

I know NOTHING about historic exchange rates. Right now it's about .8. (Canadian to US dollars). Seems pretty good! Would it be wise to pay for the trailer now at this rate? Is it likely to stay about the same? Go up? Go down? Any financial wizards out there? Any crystal balls?
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Old 06-03-2015, 08:44 PM   #2
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It is indeed an excellent rate at the moment. Could go up or down. Your choice to get it now or later.
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Old 06-03-2015, 08:55 PM   #3
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Well we were in the U.S. when our dollar dropped to below 78 cents in March, we went home and our dollar went up, now we are back in the U.S. and it's dropped again. Just our luck.

If the price of oil begins to recover then our dollar will rise again but doubt it will ever reach par as it was only a couple of years ago, in fact when we came to the U.S. in May of 2013 it was 1.03!

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Old 06-03-2015, 09:11 PM   #4
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Hi Maury and Julie - Since we bought our trailer in '09, I've never seen the rate go below .77. .8 is good, you might ask Escape how to capture the best conversion without getting ripped off in "fees".

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Old 06-03-2015, 11:08 PM   #5
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Maury and Julie, no I don't have a crystal ball, but I can tell you that historically, a rate in the .79 or .80 range is very good. The rate is greatly affected by the price of a barrel of oil, which is currently down. Anyone who deals in oil futures can tell you it's hard to know where it's headed the next day, let alone the next month. I would simply take advantage of a good rate while I can.
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Old 06-03-2015, 11:14 PM   #6
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The rate is kind of bouncing between .78 and .82 and there was talk of it getting to .75 but who knows. In marketing grain they say if you hit the peak you've waited to long. Getting a check to ETI to run through their bank probably will get you about as good of rate as you're going to get. Last September we got 1.0772 with our deposit check and 1.2004 two weeks ago with the trailer payment check. Quite a change in a short period of time. I'm sure this has to create headaches for Reace. Loren
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Old 06-03-2015, 11:42 PM   #7
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No one knows what will happen with exchange rates, e.g. oil up and C$ up or US interest rates up and US $ up or combo of both, etc. I think though it is likely most of the decrease in the Canadian dollar has happened.
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Old 06-03-2015, 11:56 PM   #8
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My advice, from experience, when it comes to investing or buying dollars is do the opposite of what I've done.
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Old 06-04-2015, 07:15 AM   #9
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Our bank charged us $35 dollars to wire funds to Escapes' bank. Transaction took only three days, so the rate was nearly identical to the rate in affect at the time we decided to go for it. The amount we saved paid our entire excise tax in the us and the rate is far more favorable now.
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Old 06-04-2015, 09:15 AM   #10
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Quote:
Originally Posted by gbaglo View Post
My advice, from experience, when it comes to investing or buying dollars is do the opposite of what I've done.
How do you reconcile your investment in an Escape 17' with that statement?
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