Tag archives: Currencies

Q: Should You Worry About Currency Exchange Rates For MoneyGeek's Portfolios?

Last update on Feb. 26, 2015.

Currency Exchange

 

A couple of years ago, you could exchange one Canadian dollar for more than one U.S. dollar. Today, you can only fetch around 93 U.S. cents for each Canadian dollar.

As a result, U.S. listed stocks and ETFs may look more expensive today from a Canadian's point of view. This led some readers to ask: is this a good time to buy U.S. listed stocks and ETFs? Shouldn't we buy Canadian listed versions of them whenever we can?

In this article, I will answer these questions.

P.S. if you don't know ...

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FCNR Rates: Too Good To Be True?

Last update on Jan. 17, 2015.

Raghuram Rajan

Raghuram Rajan: This man is ultimately responsible for the very high rates you see on FCNR accounts.

 

Why Googling 'FCNR' Blew My Mind

A reader recently emailed to ask me if borrowing money to make bigger FCNR deposits made sense.

At first, I had no idea what he was talking about. but when I googled 'FCNR', what I found blew my mind.

The term 'FCNR' stands for 'Foreign Currency Non Resident'. It's a savings account held by an East Indian living outside of India, denominated in the currency of the country in which he or she lives in ...

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How To Exchange USD To CAD Cheaply Using Questrade

Last update on March 20, 2017.

U.S. Currency: Our video shows you how to exchange Canadian dollars into U.S. dollars (and vice versa) cheaply on Questrade

 

UPDATE: Questrade has changed their website recently. You can now find the 'Currency Settlement' option mentioned in the video in 'Account Management' page, in the bottom right corner of the 'Summary' tab. Note that for margin accounts, the currenty settlement is 'trade currency' by default, so you don't need to apply this step.

Many sites, including ours, recommend Questrade as a discount brokerage of choice.

In case you didn't know, you can think of a brokerage as ...

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