US Dollar accounts

D

Dougal Short

Exposed Member
May 20, 2009
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I have a few grand in cash kicking around and I am wondering about buying some US dollars with it since the exchange is getting pretty good. I'm just doing this to set it aside for travel.

Does anyone know a good place to buy US currency, where I would get a better rate than just the bank rate? I was thinking of $5 - $10K so not tons.

Otherwise, I'm just going to spend it on SPs... :rolleyes:
 
That is still a good amount. You can get better CD rates I believe for over $10,000. Why not open a US bank account, there be no fees with your cash levels and even if the bank goes under your deposits are insured up to $250,000 now. Just have to get to the border of NY state. To move your cash over, hmmm, I get the best rates from ATM machines with a debit card-mine rebuses me for withdraw fees. Can you get $5,000 to $10,000 cash out of them, have no idea-doubt it.
 
dougal short said:
does anyone know a good place to buy us currency, where i would get a better rate than just the bank rate? I was thinking of $5 - $10k so not tons.
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gold
 
I'd be cautious about betting on US currency. If its just for travel in the near future (within a year??), I don't think there's any urgency to convert your funds.
 
With Harpers recent request to the Bank of Canada to unfreeze interest rates, I see inflation coming and a falling Canadian dollar. I would heavily invest in US currency now.
 
I say don't buy U.S. dollars just yet. I believe their dollar will continue to weaken til year's end. JMHO.

I recently SOLD all my U.S. money.
 
S.C. Joe said:
That is still a good amount. You can get better CD rates I believe for over $10,000. Why not open a US bank account, there be no fees with your cash levels and even if the bank goes under your deposits are insured up to $250,000 now. Just have to get to the border of NY state. To move your cash over, hmmm, I get the best rates from ATM machines with a debit card-mine rebuses me for withdraw fees. Can you get $5,000 to $10,000 cash out of them, have no idea-doubt it.
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I believe there are limits on how much cash you can take across the border - think it's $10,000.
 
WhaWhaWha said:
With Harpers recent request to the Bank of Canada to unfreeze interest rates, I see inflation coming and a falling Canadian dollar. I would heavily invest in US currency now.
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do you even know what you just said ???

if the intrest rises in canada that will propel the CND$ even higher next to USD ...NOT lower!!

1 has to be an IDIOT right now to buy any US dollars considering there's probably gonna be a run on the dollar sometime next year !

if anything it's about gold, swiss cash, euro and EVEN candian dollars and other comodity currencies which seem the only currencies that'll stay relatively high next to the upcoming high inflationary years created by that dumba$$ in the federal reserve
 
Hurricane Hank said:
I say don't buy U.S. dollars just yet. I believe their dollar will continue to weaken til year's end. JMHO.
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I agree... just to be clear, I am not doing this as a long term investment. But I have an envelope with a stack of $100 bills sitting in a safe, which I will use this winter for travel. I figure with the exchange the way it's going, I might as well flip it into US dollars since that's what I will need.

But I agree HH... I suspect we might well have a premium going before long... great fro travel, not so good for business...
 
bambam123 said:
do you even know what you just said ???

if the intrest rises in canada that will propel the CND$ even higher next to USD ...NOT lower!!

I has to be an IDIOT right now
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Yes you are. As inflation rises, the dollar falls. Everyone knows that. Well, almost everyone. :rolleyes:
 
The dollar moves in the same direction as interest rates - higher rates of return - or even anticipated increases in rates - encourage investment in that particular currency.
 
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