Since the Canadian Dollar has dipped in comparison to the US Dollar, it is more important than ever to get the very best exchange rate possible. Many Canadian buyers simply let their local bank exchange the funds for their Phoenix home purchase. This is such a large purchase that a difference of a few pennies on the exchange rate can equal$2000-6000 or more in savings. That’s enough to start furnishing your new home. Don’t throw that kind of money away. Proper planning for the exchange of Canadian to US funds is imperative. Foreign exchange companies offer many advantages to your local bank. They watch the markets continually as the exchange rate fluctuates throughout the day. They can choose the best exact moment of the day to make the exchange. The local bank will not do that. They make all of the trade at the same time every day. With a foreign exchange company you can also set a limit order and instruct them to only exchange the funds once the exchange rate reaches a certain price. This is similar to buying a stock at a limit order, rather than market order. You name the price at which you are willing to purchase your US dollars. It places you in control of the situation.
Many of our Canadian clients have used Globex Foreign Exchange in Edmonton, Alberta. We would be happy to refer you to the private client representative that we routinely work with. Please feel free to call or email us for her contact information. Read more about currency exchange options on www.ThePhoenixExperts.com. We are here to help you get the best deal, in all aspects of the transaction.
Marc Brodeur, Realtor
www.ThePhoenixExperts.com
1-800-300-0263
