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Monday, January 10, 2011

What's the best way to buy around 10k US dollars with Canadian dollars

Not sure if this has been asked before. I did a search but didn't really find anything. I currently have around 10k Canadian dollars in TD bank and want to buy US dollars since our dollar is higher now. On TD's website their current buying rate is .9763 which I think is kind of rip off. Is there any better way of doing this? Thanks. 

1) Use Knightsbridge or other equivalent foreign currency and bullion exchange companies. Their buy/sell rates are so narrow (especially when trading large amounts like you're planning to do).

2) CALL the bank you want to do the exchange with and haggle for a better rate. In fact, the TD bank officer through whom I opened my USD borderless account encouraged me to do this whenever I want to exchange a large amount of money.

3) Norbert's gambit

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