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Well, the TOTA rounded up. Because that's what most banks would give you now if you wanted to exchange [if they're nice]. But the market is at 89 point something cents now.
Let me explain. Currency rates fluctuate every single second the markets are open. On top of that, foreign exchange banks charge a certain fee, if you will. That's how they make their money. For example, when I worked for a foreign exchange bank, we would tell our customers that the market rate for the American dollar was at, let's say, 1.21 for every euro, and that we can give them a rate of 1.206 if they lock in right now. Well, that sounds like they're getting a bargain, right? But the market was actually at 1.17 at that point, so we would make a killing.
Anyway, the point is, you won't know until you get there and see where the market is at. But the Canadian dollar has been strong for some time now.
Last edited by Renzo on May-19-2006 at 19:57
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