Will the dollar hit par this month?
 

I see its getting stronger, will it get par with the US dollar?

Maybe for a day.

Down dollar down!

weak US dollar hurts our economy, don't get too excited

The Canadian dollar will continue rising. This will hurt the BC economy even more.

I hope it hits par during black friday and X'mas, then drop like flies after new year

now wouldn't that be awesome?

seems like gold is unstoppable right now...

maybe next year

Hence why I want a weaker Canadian dollar.

And the fact I have a USD retention bonus in escrow that clears Nov 1.

The film industry for sure.

would it be a good idea this time around to pick up 5 to 10 thousand in usd when it hits par? or its not worth the trouble?

how does exchanging cash work for income taxes? IE if I go buy 10k in US when it's at par and sell it back to the bank later at 85-90 cents. are they going to track this and issue me a T5 or something?

they obviousy don't care about a few hundred when I do that for vacation ect. but there must be an amount they start looking at??.

i just want to buy a phone from a US seller lol

today it was 95 cents!

this type of thing you can do through FOREX

or I could walk into the bank and widthdraw 10k in US cash. and deposit it 6 months later. and probably not pay taxes...

No tax consequences on foreign exchange...

buying and selling to the bank would be the worst thing you can do, they'll rip you off big time. you could do it at a forex place that accepts cash though.

i'm holding and i'm banking

^Banking at 1050?

that's a major top you know

almost 0.97
I will exchange some us dollars on tuesday morning. I think early next year, we will see par.
what do you guys think?

I have an ING account...with no service charges....they do take an extra 2% when exchanging but they give monthly interest on all accounts...I don't even need to put it in a GIC

That's better than holding American cash for who knows how long right?

ING is currently paying 1.05% per year on their ISAs, it is paid monthly put that only equals 0.0875% per month. If you take a few thousand and buy USD at par or even at todays rate of 1.05 and sit on it, lets say 6 months from now the exchange rate jumps back up to 1.15, thats a 10% profit, $100 profit per $1000 "invested". Now that is worth it to me.

If you have a hookup through a bank then you can get a bit lower rate than these guys... but if not nobody beats VBCE...

http://vbce.ca/

Then put the cash in a USD account.