Quote:
Originally Posted by WiredGuy
I'm in need to convert to CDN but I won't take this much of a hit. I'm hoping by mid-2008 it'll improve back to normal levels but I doubt we'll be near par for quite a few months.
WG
|
WG I used to think like you.. why change now when the rate is bad? The thing is if its going to get worse (like people are predicting) take advantage.
Say you have $200,000 right now in USD. You convert to CAD now at 0.93, you have $186,000CDN. In two months the rate is now 0.90. Convert that back to USD (if you want) and youve got $206,666 USD. Let the USD sit there like you are thinking right now, youre still going to have $200,000 in 2 months. I know you are one of the more successful people here.. and if you have a lot of US currency - youre not dealing with chump change..
Change it. Now. And when the new president takes office and everyone predicts the USD is going to go up.. do the opposite. Am I right or am I right?