Monday, October 15, 2007


So as I've mentioned before, I work in a bank. We of course have been closely watching the exchange rate for the US dollar versus the Canadian dollar. The Bank of Canada rate has been below par for a couple weeks now, but the misconception of most people coming to the bank is that is not the individual banks selling rate for US currency. Yes, banks like to make money too, so they do charge wherever they can! Anyway, long story short, today was the first day that we were actually selling US dollars below par in the branch. People were so amazed when they came in today to get either US cash or a money order or whatever. Everyone remembers a few years ago, like about five or so, when the US dollar was selling in our banks here for almost 60¢ above par, so now people are buying it up as investment. Some of them are purchasing real estate down south while the buying rate is so good for us. We have one couple that are heading south to check out some Naples Florida real estate. That's too close to the everglades and the alligators for me, but being on the Gulf of Mexico does sound more appealing to me than the Eastern shores too. Oh well, it doesn't matter to me anyway. I can't afford to purchase any real estate anywhere at the moment! But it is cool that people that are in that position have the buying advantage of the strong dollar we currently have.


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