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I checked to see the exchange rate today - I can buy a Canuck dollar with $.69, this has been (about) the prevailing rate for a long time, many years? I thought it reached parity a couple years back though.
There is the "official" exchange rate, and then there is the "real" exchange rate, which is what you get after the bank adds their fee. I just exchanged some US into Canadian and I received a loonie for $0.73. The biggest effect it has around where I live is many US businesses will take Canadian at par, but with the current plunge some are changing their policy. A couple of articles in case you are interested, or bored and have nothing better to do!
There is the "official" exchange rate, and then there is the "real" exchange rate, which is what you get after the bank adds their fee.
Reminds me of a great joke Gunter the bartender at the Seoul Pub told a patron, who was complaining that the bank didn't charge as much as he did to convert into the local currency, Korean Won.
01-17-2016, 08:27 AM
