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CAD Exchange Rate
I think the right thing to do is for each fund compare the currency neutral version with the unhedged version corrected for the change in USD /
CAD exchange rates for that period.
ACB calculations for US securities need to be done in Canadian dollars, which means you will need to learn the USD -
CAD exchange rate for the settlement date of each transaction.
As a Canadian buying and selling euros, you don't need to be concerned about the USD /
CAD exchange rate.
Neither fund is affected by the USD /
CAD exchange rate, and all you're doing is incurring unnecessary transactions costs.
If you buy VEA which trades in US dollars but holds unhedged positions in global equities, you are affected by
the CAD exchange rate with those global currencies, not against the USD.
I kinda wish the US /
CAD exchange rate isn't so high so I could buy more US stocks.
The apparent difference is entirely the result of the USD /
CAD exchange rate.
By purchasing USD, the Canadian government influences the USD /
CAD exchange rate, lowering the value of the CAD (providing more supply of it in exchange for the USD it's buying).
Not exact matches
If we take the median forecast of $ US 19 / tonne at 2000 prices, add inflation and convert to
CAD at current
exchange rates, that works out to about $ C 25 / tonne.
The Bank of Canada firmly nailed down its position on this issue throughout the 80s, 90s and 00s; a succession of governors and deputy governors were of the view that shifts in the relative price of resources played a big role in moving the
CAD / USD
exchange rate.
Weakness in the U.S. currency rather than factors on the Canadian side are likely to be the primary catalyst for a slide in USD /
CAD, according to BMO's global head of foreign -
exchange strategy Greg Anderson, who cited a market that's gotten ahead of itself with regard to Federal Reserve tightening and a tax proposal that's likely to be dollar negative.
Perhaps you may be interested in XRP
CAD Historical Chart, and XRP
CAD Historical Data of
exchange rate.
My second acquisition was for 15 additional shares of BNS, also on the Toronto Stock
Exchange in
CAD.
My first buy was for an additional 50 shares of Corby Spirit and Wine Ltd. (CSW.B) on the Toronto Stock
Exchange in
CAD.
In this example arbitrage would be
exchanging USD - > EUR - >
CAD - > USD and making 5 % on every dollar.
That has to affect all
exchange rates, otherwise you could transfer your USD into EUR, and then into
CAD and magically4 make money.
At the current price and
exchange rates, it's about $ 26 USD shipped to the United States and $ 36
CAD shipped to Canada.
What does Questrade charge to
exchange $
CAD to $ U.S?
The offering of the new ETFs has closed, and they will begin trading on the Toronto Stock
Exchange today: BMO Low Volatility International Equity Hedged to
CAD ETF (Ticker: ZLD): This ETF is designed for investors looking to invest in international equities with greater downside protection than market capitalization weighted products.
In other words, the currency fluctuations a Canadian investor is exposed to for a foreign stock (or ETF) traded in an US
exchange (that does not hedge its currency fluctuations) is not the
CAD / USD rate.
In attempt to avoid the usual 1.5 - 2 %
exchange fees levied by brokers, I perform Norbert's gambit: I purchase DLR.TO in
CAD (Canadian dollars) from TSX, journal it over to DLR.U.TO, and then sell the
exchange - traded fund (ETF) to obtain USD (United States dollars).
At the current
exchange rate ($ 1 USD = $ 0.94
CAD), those two amounts are equivalent.
Since half the value of the Sleepy Portfolio is denominated in US dollars (note that though VEA and VWO are denominated in US dollars, Canadian investors are exposed to currency risk between the
CAD and the basket of currencies that the ETF holdings are denominated in — Pound, Yen, Euro etc., not the
CAD - USD
exchange rate), the loss in value of the Canadian dollar helped cushion the steep drop in stock values.
A Canadian buying Royal Bank on the New York Stock
Exchange in USD would not have any exposure to the US dollar, because the holding itself is denominated in
CAD:
In attempt to avoid the usual 1.5 - 2 %
exchange fees levied by brokers, I perform Norbert's gambit: I purchase DLR.TO in
CAD (Canadian dollars) from TSX, journal it over to DLR.U.TO, and then sell the...
* The
exchange rates for
CAD / INR displayed here are only applicable to money transfer transactions initiated through ICICI Bank Canada's Personal Online and Mobile Banking App platforms.
The three - month USD /
CAD forward
exchange contract rate would be calculated as:
Binary options in forex are available from
exchanges such as Nadex, which offers them on the most popular pairs such as USD -
CAD, EUR - USD and USD - JPY, as well as on a number of other widely - traded currency pairs.
It seems unrealistic that currency hedging can be achieved with only 0.15 % cost, especially with the large
CAD / USD
exchange rates changes seen over the last decade.
You can essentially ignore the
CAD - USD fluctuation for broad international ETFs like Vanguard Europe Pacific ETF (VEA), iShares MSCI EAFE ETF (EFA), Vanguard Emerging Markets ETF (VWO), iShares MSCI Emerging Markets ETF (EEM) etc., country - specific ETFs like iShares MSCI Japan ETF (EWJ), iShares MSCI Australia ETF (EWA) etc. and even ADRs that trade in US
exchanges but are denominated in local currencies like Nokia (NOK).
Even if the U.S. dollars falls you should be protected if the foreign currency moves upward with the Canadian dollar as you mention in this post: «You can essentially ignore the
CAD - USD fluctuation for broad international ETFs like Vanguard Europe Pacific ETF (VEA), iShares MSCI EAFE ETF (EFA), Vanguard Emerging Markets ETF (VWO), iShares MSCI Emerging Markets ETF (EEM) etc., country - specific ETFs like iShares MSCI Japan ETF (EWJ), iShares MSCI Australia ETF (EWA) etc. and even ADRs that trade in US
exchanges but are denominated in local currencies like Nokia (NOK)».
This nifty trick involves finding a stock or ETF that trades on both a Canadian and U.S.
exchange: you can then buy it on the
CAD side of your account and then sell it on the USD side (or vice versa), thereby sidestepping your brokerage's forced currency conversion.
The company has
CAD 0.6 million of cash on hand,
CAD 0.8 million of net payables,
CAD 3.8 million of related party debt (which, of course, presents a potentially serious risk for minority shareholders),
CAD 2.4 million gross from the new placing / debt
exchange (presuming it goes ahead), plus we also need to adjust for a
CAD 1.7 million annual cash burn:
Working in a job where I frequently
exchange CAD and US currency, I can see the huge variances in gains / losses from day to day.
Two of the new ETFs — BMO Emerging Markets Equity (ZEM) and BMO International Equity Hedged to
CAD (ZDM)-- were already in the works, according to an initial prospectus filed with regulators (See post
Exchange - Traded Funds from BMO).
About the only time there is a strong correlation between the S&P 500 and the
CAD - USD
exchange rate is during a flight to quality event.
I have demonstrated in my previous post that the standard deviation for the unhedged portfolio is almost 2 times larger (if we assume no long term correlation between stock returns and the
CAD - UAD
exchange rate, which is close enough for demonstration purposes).
To convert USD into
CAD, we'll do a Norbert Gambit by buying TD Bank on the NYSE and selling it on the TSX and save about $ 65 on the currency
exchange.
Due to the unfavorable
exchange rate (
CAD to USD), I would invest at least 75 % of the money into high quality Canadian stocks.
Even if you use greenbacks to make both transactions, the effect of the
CAD / USD
exchange gets washed out in the transaction.
However, it really depends on your situation, how easy it is for you to
exchange money, what your
exchange rate is, and what your broker is charging you to
exchange to USD (if on the off chance this is truly nothing, then stick with
CAD).
Do you mean buying stocks that are denominated in
CAD, and you buy them on the TSX vs stocks that are denominated in USD and you buy them from a US
exchange?
I take $ 100
CAD,
exchange it for $ 100 USD, and buy some AMEX traded ETF for $ 100 USD.
ETFs that hold foreign stocks or foreign stocks trading on US
exchanges do not expose you to
CAD / USD fluctuations (also, see Canadian Financial DIY's post on this subject).
Is there any way to avoid the initial currency conversion from
CAD to USD in RRSP accounts when wanting to purchase ETFs traded on US
exchanges?
For example, let's say the
exchange rate between
CAD and USD.
One year later I sell it for $ 110 USD but the
exchange rate, let's say, has fallen such that $ 110 USD is only worth $ 100
CAD.
Using a brokerage
exchange rate of 1 USD to 1.35
CAD, assume that 139 shares of EEM was bought using 7400 USD.
Regarding
exchange rates, the logic is simple: buy
CAD when USD is strong and buy USD when
CAD is strong.