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| Subject: Exchange |
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Hi All,
Just my obsewrvation that I think now´s a good time to exchange US$ or other western currencies to CDN$ for those planning moves in the near future, and wanting to bring funds for permanent settlement.
CDN$ is expected to remain weak and perhaps further deteriorate as world-wide industrial demand for raw materials has slumped to recession levels. Oil has recently dropped rapidly from almost $150 to $56/barrel. Canada´s currency is almost completely pegged to such commodities.
From what I read, this won´t be a long-term situation, perhaps 6-9 months. Once world economies right themselves, the situation (and exchange rates) will return to more normal levels. The CDN$ should normally trade at US$.85 (about CDN$1.15 per US$), as Canada´s economy is considered 85% as efficient as the U.S.
Quite a reversal from the high-flying days of hot commodities demand and price levels seen until recently.
[20-11-2008,14:08]
[***.133.11.77]
Richard |
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