What happens if the Canadian dollar passes the US dollar again
 

The Canadian $ keeps gaining ground on the US $ and this just sucks.

I used to get a conversion rate of about 30% now it's down to 15% in about a 18 month time frame.

I wonder if the Canadian dollar will ever pass the US dollar again as it did in the past, and if it does how will it effect the Canadin Poker players

For example if the value of the Candian and US dollar were switched around right now and I put $500 into a site to play
I would lose $75 right of the top. So now I have $425 in there to play with. Let's say I play for a few hours and make a hundred bucks, now it's time to withdrawl.

I'm not going to get the same exhange rate I did when I deposited the money so I am probably going to lose another point or two converting it back.

So take $525.00 and multiply it by .83 and I end up with $435.75

I won a hundred playing poker but ended up losing $64.25 overall because of the exchange rate.

1) Did I do the math right?
2) Will the US dollar ever go back to being lower than the Canadian dollar?

3)Go ahead, I know you can't resist, let the Canadian jokes begin

Re: What happens if the Canadian dollar passes the US dollar again
 

[ QUOTE ]
The Canadian $ keeps gaining ground on the US $ and this just sucks.

I used to get a conversion rate of about 30% now it's down to 15% in about a 18 month time frame.

I wonder if the Canadian dollar will ever pass the US dollar again as it did in the past, and if it does how will it effect the Canadin Poker players

For example if the value of the Candian and US dollar were switched around right now and I put $500 into a site to play
I would lose $75 right of the top. So now I have $425 in there to play with. Let's say I play for a few hours and make a hundred bucks, now it's time to withdrawl.

I'm not going to get the same exhange rate I did when I deposited the money so I am probably going to lose another point or two converting it back.

So take $525.00 and multiply it by .83 and I end up with $435.75

I won a hundred playing poker but ended up losing $64.25 overall because of the exchange rate.

1) Did I do the math right?
2) Will the US dollar ever go back to being lower than the Canadian dollar?

3)Go ahead, I know you can't resist, let the Canadian jokes begin

[/ QUOTE ]

Huh?

How do you lose money as soon as you deposit?

If you are depositing Canadian Dollars to start with, and $500 goes into the account, then yes, you start with $425 in US dollars if the exchange rate is 85% - you didn't lose anything. If you win $100 US and cash out, you get back your $500 Canadian plus $115 from the $100 you won - for a total of $615 Canadian.

What are you trying to say that I haven't grasped?

Dogmeat [img]/images/graemlins/spade.gif[/img]

Re: What happens if the Canadian dollar passes the US dollar again
 

Will the US dollar ever go back to being lower than the Canadian dollar?

I don't know but I sure miss the day of the 64 cent dollar. I was listening to an analyst on ROB TV (Report on Business) a few weeks back and they were anticipating the CDN dollar to hit 90 cents US before the winter... so I guess anything is possible.

Outside of my selfish concerns as a poker player, it just isn't good for our dollar to be sitting this high. Our economy is largely based on exports and the high dollar is hurting the industry. My understanding is that our economy is best served with a dollar in the 75-78 cent range.

As far as preserving your bankroll goes, be sure that your Neteller account is in US dollars (Although I'm sure yours is LimitPlayer) and try to use the Empire/Party EFT for Canadian bank accounts for your withdrawls - no service charge and they offer a very good exchange rate - better than the banks (and Neteller).

Re: What happens if the Canadian dollar passes the US dollar again
 

you dont instantly lose money unless the currency exchange rate changes drastically over a short period of time. if the candian dollar got stronger and then you converted 500 canadian into US, you would get more than 500US. your money doesnt instantly vanish into thin air. over time, you might lose buying power as a result of gradual exchange rate changes

Re: What happens if the Canadian dollar passes the US dollar again
 

Your right dogmeat, I did the math wrong