Quote:
Originally Posted by Dion
I just set up a US dollar account with my bank today. Bought three thousand dollars worth of American money. I'm renting a place in Phoenix for the month of December. That and I thought it would be a good idea to stock pile some American dollars for future trips while our buck is so high.
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FYI, Manulife Bank is paying 4% on Cdn.-dollar desposits and 4.75% on U.S.-dollar deposits. Once set up through an advisor, the client can manage it completely on his own by phone or Internet. No fees either.
I made a large deposit buying U.s. dollars myself for my frequent trips to the U.S., however I did it abour three months ago. Guess my timing was less than sterling.
I hate to admit that I remember when the Canadian dollar was above par with the Greenback. I was in my 20s. I have to admit I doubted we'd see the day when the Loonie was above par, but it's gonna happen. I like this because I travel outside of Canada (U.S. or other countries where the Greenback is the accepted currency) frequently. However, it's not without a price as Canadian exporters are getting hammered. NHL teams in Canada are benefitting, however. So, there is good and bad.