Rising Canadian Dollar!

[jaybird]

Any other Canadians in the same boat as me?

I'm getting screwed over by the rising Canadian dollar. It's almost at 0.82USD!!

When I started playing it was around .67

I have about $10000 USD online between various poker sites and neteller. As the dollar keeps rising, my bankroll keeps shrinking!

Any currency experts have advice? Should I cashout as much as I can now to my CDN bank account? Or hold out and hope the dollar goes back down?

[M.B.E.]

Yes, the freefalling US dollar is wreaking havoc on the value of my online funds.

I would hope that after the election, the US dollar will gain back some of its value.

[Twisty]

Nobody knows for sure whats gonna happen with the exchange rates, but some are hinting the cdn dollar could be at par with the U.S. dollar by the end of '05.I used to get $1.55 cdn ,today i cashed out and received $1.20 for each greenback.I decided to stop worrying about it and just concentate on poker because thats the only thing i actually have some control over.


Twisty

[pokerkai]

[ QUOTE ]
Nobody knows for sure whats gonna happen with the exchange rates, but some are hinting the cdn dollar could be at par with the U.S. dollar by the end of '05.I used to get $1.55 cdn ,today i cashed out and received $1.20 for each greenback.I decided to stop worrying about it and just concentate on poker because thats the only thing i actually have some control over.


Twisty

[/ QUOTE ]

On par??????
THAT IS AN EXTREMELY SCARY THOUGHT

[lefty rosen]

When I was getting 1.55 Canadian this was the greatest thing ever. Now 1.20 or less is pathetic. Also the soft games have slowly started to dry up I'm starting to get pissed...... [img]/images/graemlins/grin.gif[/img]

[jaybird]

Maybe we can list some ideas on how to avoid exchanging currencies?

I'm thinking of buying a few big ticket items. (Dell Monitors, Aeron Chair etc.) Are there any ways to order items from the US and avoid being nailed for duties or customs when they hit the border?

It seems I would save in two ways by ordering from the US:

1. Items on US sites compared to Canadian sites are cheaper even with the exchange rate (Dell US has WAY better prices than Dell Canada for the exact same items).

2. Wouldnt have to deal with the currency change.

[LoyalFrush]

I hear you.
I was talking to a friend today who is going on vacation to the US and he was happy that the cost of the trip was getting cheaper with every uptick of the Canadian dollar.
I said no no no you idiot we want a weak dollar so my bankroll increases in value. [img]/images/graemlins/grin.gif[/img]

Cashout now or hope the Canadian dollar weakens?
That sounds like just another form of gambling to me.
I think I am going to remove what I can from my accounts and get it into Canadian dollars.
Who knows where the currency markets go in the future. My guess is the Canadian dollar will keep rising in the foreseeable future, especially if dubya wins next week.

[phixxx]

WOW I KNOW! I cashed out 355 American, I only got about 420 back... [img]/images/graemlins/frown.gif[/img]

[ThinkQuick]

i cashed ~400US and got ~500CAD and my jaw dropped.
now i just feel lucky i did it then.

now... expecting CAD to drop in value against USD after the election means make a major buy in now while the dollar is up, right?
i just don't even feel like playing this craaaaaazy forex game. I'm sticking to the B&Ms.

[siccjay]

Damn I never thought about anything like that. That must suck.