Rising Canadian Dollar!

[pokerkai]

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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

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

[B00T]

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Here's a way to get some extra EV out of the situation. Cash out and get it mostly in quarters. You may have to go to a local bank. Now cross the border into the states and start making a lot of frivolous purchases. Each time you buy something, slip in at least 2 or 3 Canadian quarters. We won't notice, and even if we do we won't care too much. That's gotta save you like $.50 on each purchase.

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Haha, good answer.

[TorontoCFE]

The general consensus is that the $CDN will continue to appreciate for the next year or so. One expert in the US is predicting it going all the way to 1.06.
It is due to the weakening USD and strong global demand for Canadian resources.

The smart thing to do would be to convert all excess cash back to Canadian now (beyond immediate playing needs) and then mvoe it back to USD whenever needed or when the $CDN hits .85 and/or .90.

If you keep it in USD, then you are going against the trend and taking unecessary risks.
I moved most of my USD back to CDN at .71 and I'd switch back if the $CDN drops to .75

[BugSplatt]

This isn't an anti-war rant, but as long as the US gov't continues to print money they don't have to subsidize the war in Iraq, the U.S. dollar will probably continue its downward slide.

Bug

[jakethebake]

Move.

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Any currency experts have advice?

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[The once and future king]

When I spent a year in USA the pound was 1 - 1.57 Dollars.
Now it is 1 - 1.82.

This means that a 1000 pounds has gone from being 1570 dollars to 1820 dollars.

[mackthefork]

Mines in pounds it stinks, I lost 20% so far. I can't decide whether to cash out or put more in. Blah

Regards Mack

[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]

[westmt01]

I have a friend who tried a similar scheme about 10 years ago, except what he did was get rolls of quarters from a Canadian bank, bring them back (I live in suburban Detroit, right across from Windsor, Ontario) and slip 2-3 into rolls of American quarters, and cash them in at various banks. The problem was it took him forever, and about 1/2 way through one of the banks that he went to once too often caught on and threatened to inform the FBI (I'm sure they wouldn't have actually done it over such a small amount of money, but it scared him enough to drop the plan). He was then stuck with $150 in Canadian quarters that he had to lug back across the border, and made so little profit it wasn't worth the time or effort.

And actually most shops/restaurants/etc. here in Detroit DO notice if you try to give them Canadian quarters, and they won't take them.

So the best plan is to stick to making money the old fashioned way: bonus whoring.

[Alobar]

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hahahaha. you crazy Canadians and your dollars that aren't really dollars.

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dude, just think whats going to happen if the canadian dollar equals or beats the american dollar, all the years of us ripping on canadians for their "funny money" are going to come back on us ten fold!!

"$10,000 U.S. whats that like 52 cents Canadian eh? HA AHAHAH AHAAHA" [img]/images/graemlins/frown.gif[/img]