Canadians, are we headed for 'at par' exchange rates? - GoFuckYourself.com

DeviousBros. · 12-12-2005, 12:40 PM

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.

ChatCash_Rob · 12-12-2005, 12:42 PM

Keep as much of it as you can in USD and wait for it to go back up? Might be a long wait though.

Phoenix · 12-12-2005, 12:43 PM

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

RuthB · 12-12-2005, 12:44 PM

no strategies here, I just hope it improves soon, my pay decreases each pay period!

DeviousBros. · 12-12-2005, 12:53 PM

Quote:

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.

JFK · 12-12-2005, 01:05 PM

all I can say is

directfiesta · 12-12-2005, 01:06 PM

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 ....

Bomber8888 · 12-12-2005, 01:06 PM

They need to get BUSH outta there!

pornguy · 12-12-2005, 01:10 PM

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.

smack · 12-12-2005, 01:11 PM

Quote:

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?

Elli · 12-12-2005, 01:18 PM

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.

WiredGuy · 12-12-2005, 01:25 PM

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

ElvisManson · 12-12-2005, 01:40 PM

Quote:

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.

magicmike · 12-12-2005, 02:09 PM

Its great for visiting the US.

SilentKnight · 12-12-2005, 02:23 PM

Quote:

Originally Posted by WEGRuth

no strategies here, I just hope it improves soon, my pay decreases each pay period!

Says it all...

DeviousBros. · 12-12-2005, 02:23 PM

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?

rowan · 12-12-2005, 02:35 PM

Quote:

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."

Vitasoy · 12-12-2005, 03:03 PM

Quote:

Originally Posted by JFK

all I can say is

I feel your pain man...It just keeps on dropping

daveylapoo · 12-12-2005, 08:17 PM

Quote:

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.

quiet · 12-12-2005, 08:22 PM

yeah it's fucking ugly.

CybermedAndy · 12-12-2005, 08:25 PM

I remember running orders at 1.55

12-12-2005, 12:40 PM	#1
DeviousBros. Registered User Join Date: Dec 2005 Posts: 86	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.

12-12-2005, 12:42 PM	#2
ChatCash_Rob Confirmed User Industry Role: Join Date: Apr 2004 Posts: 749	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

12-12-2005, 12:43 PM	#3
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,462	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 __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

12-12-2005, 12:44 PM	#4
RuthB Let's Get Paxumized! Industry Role: Join Date: May 2005 Location: Vancouver, Canada Posts: 7,247	no strategies here, I just hope it improves soon, my pay decreases each pay period! __________________ Send & Receive Mass Global Payments - Mass P2P/Wire/EFT/SEPA - Adult Industry Friendly - Award Winning Payment Service - Fast, Reliable & Secure! Paxum ...... Paxum Bank Email: [email protected] ~ Telegram: PaxumRuth

12-12-2005, 01:05 PM	#6
JFK FUBAR the ORIGINATOR Industry Role: Join Date: Jan 2002 Location: FUBARLAND Posts: 67,374	all I can say is __________________ FUBAR Webmasters - The FUBAR Times - FUBAR Webmasters Mobile - FUBARTV.XXX For promo opps contact jfk at fubarwebmasters dot com

12-12-2005, 01:06 PM	#7
directfiesta Too lazy to set a custom title Industry Role: Join Date: Oct 2002 Location: Montreal, Quebec Posts: 29,668	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 ....

12-12-2005, 01:06 PM	#8
Bomber8888 Confirmed User Join Date: Mar 2004 Location: Toronto Posts: 1,444	They need to get BUSH outta there! __________________ Icq - 403858640 bomber.jason AT gmail dot com

12-12-2005, 01:10 PM	#9
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	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. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

12-12-2005, 01:18 PM	#11
Elli Reach for those stars! Industry Role: Join Date: Apr 2003 Location: Vancouver, BC Posts: 17,991	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]

12-12-2005, 01:25 PM	#12
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,482	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.

12-12-2005, 02:09 PM	#14
magicmike Confirmed User Industry Role: Join Date: Feb 2003 Location: JustPorno Posts: 2,384	Its great for visiting the US. __________________ Just Porno with both classic and mobile porn versions. Gay Porn Our mega gay site tranny porn

12-12-2005, 02:23 PM	#16
DeviousBros. Registered User Join Date: Dec 2005 Posts: 86	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

12-12-2005, 08:22 PM	#20
quiet we'll miss you our friend. RIP Industry Role: Join Date: Sep 2001 Location: Fernie, BC Posts: 25,115	yeah it's fucking ugly. __________________ we'll miss you our friend. RIP

12-12-2005, 08:25 PM	#21
CybermedAndy Confirmed User Join Date: Jul 2004 Location: Vancouver Posts: 4,170	I remember running orders at 1.55 __________________ Add some upsell items to your pages here!