Canadians, are we headed for 'at par' exchange rates?

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  • DeviousBros.
    Registered User
    • Dec 2005
    • 86
    #1

    Canadians, are we headed for 'at par' exchange rates?

    Economists at CIBC were predicting 1.13 going into the new year, with that pretty much being the bottom.

    They're now shooting even lower, predicting 1.10 by the end of the first quarter of the new year:

    http://research.cibcwm.com/economic_...d/dec09_05.pdf

    How low will it go.......

    I did a big buy at CIBC's online trader a few weeks ago and got near 1.18, hoping that would get me through this slump - https://www.fxdealing.cibc.com/index.jsp

    Reality is, I'll have to buy some Canadian dollars at these brutal rates to get through the next couple of quarters.

    Do any of you Canadian webmasters out there have any strategies to counter this?

    Thanks in advance.
    The Evolution of Free sites.
    Devious Brothers Media
    Tags: None
    • ChatCash_Rob
      Confirmed User
      • Apr 2004
      • 749
      #2
      Keep as much of it as you can in USD and wait for it to go back up? Might be a long wait though.
      www.chatcash.com ...coming soon!
      icq # 131127104 rob{AT}chatcash

        Comment

        • Phoenix
          BACON BACON BACON
          • Nov 2002
          • 35475
          #3
          it wont be going back up anytime soon...maybe if they get a democrat in office and four years of hard work by them..then you will see an increase

          the spending habits of republicans just dont measure up to the usa's economy
          Telegram PhoenixBrad
          https://quantads.io

            Comment

            • RuthB
              Let's Get Paxumized!
              • May 2005
              • 7248
              #4
              no strategies here, I just hope it improves soon, my pay decreases each pay period!
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                Comment

                • DeviousBros.
                  Registered User
                  • Dec 2005
                  • 86
                  #5
                  Originally posted by LiveBucks_Rob
                  Keep as much of it as you can in USD and wait for it to go back up? Might be a long wait though.
                  Yes, that's pretty much been the idea all along.

                  However, the long term outlooks just keep getting more and more bleak. Earlier this year the predictions were for a 1.25ish rate by mid 2006. This has dropped nearly 10% over the last 6 months.

                  One has to wonder where the bottom is, but there is little doubt these type of rates are here to stay for the forseeable future.
                  The Evolution of Free sites.
                  Devious Brothers Media

                    Comment

                    • JFK
                      FUBAR the ORIGINATOR
                      • Jan 2002
                      • 67373
                      #6
                      all I can say is

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                        Comment

                        • directfiesta
                          Too lazy to set a custom title
                          • Oct 2002
                          • 30137
                          #7
                          In 2 or 3 years, it will be at part... getting there slowly.

                          When I was a kid, we used to get $US 1.10 for $CAN 1.00 ....
                          I know that Asspimple is stoopid ... As he says, it is a FACT !

                          But I can't figure out how he can breathe or type , at the same time ....

                            Comment

                            • Bomber8888
                              Confirmed User
                              • Mar 2004
                              • 1444
                              #8
                              They need to get BUSH outta there!
                              Icq - 403858640
                              bomber.jason AT gmail dot com

                                Comment

                                • pornguy
                                  Too lazy to set a custom title
                                  • Mar 2003
                                  • 62912
                                  #9
                                  the Peso here is mexico is now trading at 10.25, and will be moving back up my june of 2006. If you have a few hundred G's laying around. you can make a ton.
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                                    Comment

                                    • smack
                                      Push Porn Like Weight.
                                      • Mar 2002
                                      • 10652
                                      #10
                                      Originally posted by Phoenix
                                      the spending habits of republicans just dont measure up to the usa's economy
                                      isn't it a topsy turvy fucking world when conservatives spend to much and liberals are the fiscally conservative ones?
                                      Cry havoc and let slip the dogs of war.

                                        Comment

                                        • Elli
                                          Reach for those stars!
                                          • Apr 2003
                                          • 17991
                                          #11
                                          Yeah the forecasts are for a par dollar in the next year and a bit. Maybe you can invest in the yen or euro? sigh.
                                          email: [email protected]

                                            Comment

                                            • WiredGuy
                                              Pounding Googlebot
                                              • Aug 2002
                                              • 34512
                                              #12
                                              I wish I had some more CDN cash as I'll have to take one hell of a hit to pay taxes in the new year.
                                              WG
                                              I play with Google.

                                                Comment

                                                • ElvisManson
                                                  Looking California
                                                  • Feb 2001
                                                  • 5476
                                                  #13
                                                  Originally posted by WiredGuy
                                                  I wish I had some more CDN cash as I'll have to take one hell of a hit to pay taxes in the new year.
                                                  WG
                                                  I can loan you some at a decent rate.

                                                    Comment

                                                    • magicmike
                                                      Confirmed User
                                                      • Feb 2003
                                                      • 2384
                                                      #14
                                                      Its great for visiting the US.
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                                                        • SilentKnight
                                                          Megan Fox's fluffer
                                                          • Oct 2005
                                                          • 24818
                                                          #15
                                                          Originally posted by WEGRuth
                                                          no strategies here, I just hope it improves soon, my pay decreases each pay period!
                                                          Says it all...

                                                            Comment

                                                            • DeviousBros.
                                                              Registered User
                                                              • Dec 2005
                                                              • 86
                                                              #16
                                                              When the slide started to happen I began looking at revenue streams from within Canada than of course pay in Canadian dollars.

                                                              I do have a small Production Company here that brings in a bit of Canadian dollars, but not near enough to sustain day to day living. Diversifying into more ventures that bring in Canadian revenue streams are of course an obvious choice.

                                                              One theory I have had involves pulling money out of RRSP's to purchase my first home(ok, this won't apply to everyone).

                                                              As may or may not know, you can pull 20k out of rrsp's to buy your first home. You have 15 years to pay this back. My logic is that although 20k of rrsp's will cost me 18k or so USD, I have 15 years to wait for a better rate to pay this back.

                                                              For example, say in 2008 the rate gets back to 25% - it will only take 16k usd to pay back the rrsp at this point.

                                                              This of course is not going to help everyone, and at best could only save you a couple thousand dollars. Every little bit helps though.

                                                              Anyone else with ideas like this?
                                                              The Evolution of Free sites.
                                                              Devious Brothers Media

                                                                Comment

                                                                • rowan
                                                                  Too lazy to set a custom title
                                                                  • Mar 2002
                                                                  • 17393
                                                                  #17
                                                                  Originally posted by DeviousBros.
                                                                  When the slide started to happen I began looking at revenue streams from within Canada than of course pay in Canadian dollars.

                                                                  [...]

                                                                  One theory I have had involves pulling money out of RRSP's to purchase my first home(ok, this won't apply to everyone).

                                                                  [...]

                                                                  Anyone else with ideas like this?
                                                                  Not quite the same thing, but I've also been looking at ways to SAVE in my local currency. A discount is like tax free income!

                                                                  http://www.fyibox.com/for-your-infor...-free-interest

                                                                  Here's the important bit

                                                                  "To conclude, let's go back to our savings account and look at it another way: to earn the equivalent of $700 in tax-paid interest, you would need need to increase the amount sitting in your savings account for the year to just over $18,850. You can save the same $700 by keeping only $10,000 in your home loan account for the year."

                                                                    Comment

                                                                    • Vitasoy
                                                                      GFY HALL OF FAME DAMMIT!!!
                                                                      • Oct 2003
                                                                      • 58202
                                                                      #18
                                                                      Originally posted by JFK
                                                                      all I can say is
                                                                      I feel your pain man...It just keeps on dropping


                                                                      [email protected]

                                                                        Comment

                                                                        • daveylapoo
                                                                          Confirmed User
                                                                          • Dec 2003
                                                                          • 423
                                                                          #19
                                                                          Originally posted by rowan
                                                                          Not quite the same thing, but I've also been looking at ways to SAVE in my local currency. A discount is like tax free income!

                                                                          http://www.fyibox.com/for-your-infor...-free-interest

                                                                          Here's the important bit

                                                                          "To conclude, let's go back to our savings account and look at it another way: to earn the equivalent of $700 in tax-paid interest, you would need need to increase the amount sitting in your savings account for the year to just over $18,850. You can save the same $700 by keeping only $10,000 in your home loan account for the year."

                                                                          Cool, interesting read, thanks.

                                                                            Comment

                                                                            • quiet
                                                                              we'll miss you our friend. RIP
                                                                              • Sep 2001
                                                                              • 25115
                                                                              #20
                                                                              yeah it's fucking ugly.
                                                                              we'll miss you our friend. RIP

                                                                                Comment

                                                                                • CybermedAndy
                                                                                  Confirmed User
                                                                                  • Jul 2004
                                                                                  • 4170
                                                                                  #21
                                                                                  I remember running orders at 1.55

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