No doubt in this regard, it is a moment cheap to study abroad at the Canada! Currently, the US dollar is at its highest against the Canadian dollar since September 2010, 1.06. Meanwhile, the euro at the exchange rate of the Canadian dollar is 1.38, the highest since November, 2011. This means that, for you, when you exchange currency, you get much more Canadian dollars.
Why the exchange rate is so good?
So, how come he is Aussie a great opportunity for you here? Well, it is because the economy is slowing down, making the Canadian dollar cheap as chips. Canada has expanded only + 0.1% in April, which drove up the currencies such as the dollar and the euro and brought down the Canadian dollar.
In addition, you can expect to get better, as long as the downturn in the economy of the Canada maintains the exchange rate. For example, the IMF recently cut its forecast for the economy next year of 0.2%, which could weaken the dollar further. So, Yes, it is a good time for you to study in the Canada, but it could soon become even cheaper!
Given this, if you decide to study in Canada, how can you make sure you only get dollars more possible Canadians? Here are 3 tips to help you:
1. Keep an eye on the exchange rate.
Like it or not, the Forex market is volatile, and the exchange rate available one minute will be gone on the other. You must keep an eye on what the Canadian dollar, or at least ask someone to look at it for you. Talk to a broker in foreign currency, and you can ask them to contact you when the exchange rate is the best.
2. Not to buy Canadian dollars at the last minute.
This is the worst thing you can do if you want a great rate of Exchange. After all, this means that you'll be stuck with any exchange rate is available, even if it is bad. Far from getting most of the dollars that you can, you will need to accept what you are given. Instead, buy your Canadian dollars in advance!
3 Obtain confirmation that your transfer has gone through.
Of course, you'll want to know when your money arrives at the Canada. It is a stressful thing, after all, send money from one country to another. To give you peace of mind, ask a confirmation when your transfer is complete.
To find out when you can get the best dollar Canadian exchange rate, Subscribe to the free newsletter from FX Pure today. We will send you an email the moment that the best exchange rate becomes available.
Peter Lavelle is a currency broker to Exchange FX Pure dealer. For more information on getting the best exchange rate when you study abroad in Canada by e-mail at peter.lavelle@purefx.co.uk.
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