[Valdoyes]

ScotiaBank RD has just given me their exchange rates.

$$CAD 38.76 to sell 40.41 to buy
$$USA 39.05 to sell 39.20 to buy

Did I say that right?
You know what it means anyway.

Good time to send $$CAD to RD

There is no way to find this on the web, I e-mailed them in SD

[TheBestCheapestOEM]

Buy/sell spread on CAD is only 10 times larger that the one on USD, that's by a Canadian bank - how is that a good news? Good news would be I can sell canadian dollars for more pesos than USD, like it should be at the moment.

[Valdoyes]

Buy/sell spread on CAD is only 10 times larger that the one on USD, that's by a Canadian bank - how is that a good news? Good news would be I can sell canadian dollars for more pesos than USD, like it should be at the moment.

That Cdn Bank is really not connected to Canada... separate entities, very frustrating.

The good news is you will get 40.41 DRP vs 39.20 for the US equivalent.... a 3% uptick.

Normally, they skimp me down on $$CAD, no matter the rate of exchange.

I may have posted it upside down--- as i warned.

The key # is 40.41 cf 39,20

[xsexymasterix]

WHOOT WHOOT

[Lafclaria]

Those are just OANDA (VISA INTERNATIONAL) rates, good luck getting $38.76DOP/CAD on the street.
Can you get me a Cambio rate tomorrow, It can be arbed a bit tighter electronically.
The live USDCAD rate is .9882/.9884 right now.

[Valdoyes]

That was what ScotiaBank RD quoted me.

That is the rate i will get if I wire into my account.

No true relationship to street value, where the CAD traditionally gets squeezed down.

[feAilei1]

That Cdn Bank is really not connected to Canada... separate entities, very frustrating.

The good news is you will get 40.41 DRP vs 39.20 for the US equivalent.... a 3% uptick.

Normally, they skimp me down on $$CAD, no matter the rate of exchange.

I may have posted it upside down--- as i warned.

The key # is 40.41 cf 39,20

The higher number is the quantity of pesos you pay to buy 1 loonie, so higher is worse. The lower number is the quantity of pesos you get for selling one loonie so higher is better. The greater spread for Canadian reflects the fact that it's an exchange that's less in demand. Canadian currency would have to trade at a significant premium over US dollars for it to be reflected in DOP exchange. If they are near parity Cdn will always exchange less favorably.

[Lafclaria]

Anything higher than 39 for Loonies is considered good WW, as you appreciate!
We have been @ or above parity since August 6th.

[wJswn5l3]

I find it easier to just send American dollars from my account in Canada to my Dominican account. That way you don'y have to try and exchange Canadian to pesos. I converted 2000 US yesterday. Cost $2011 Canadian.

[Valdoyes]

I find it easier to just send American dollars from my account in Canada to my Dominican account. That way you don'y have to try and exchange Canadian to pesos. I converted 2000 US yesterday. Cost $2011 Canadian.

I'm trying to avoid two exchanges - CAD to US then US to DRP

In the long run, it's just an exercise, it is what it is..... que sera, sera.

All I know for certain is to use the bank for $$CAD.... not the street.

[RedImmik]

ScotiaBank RD has just given me their exchange rates.

$$CAD 38.76 to sell 40.41 to buy
$$USA 39.05 to sell 39.20 to buy

Did I say that right?
You know what it means anyway.

Good time to send $$CAD to RD

There is no way to find this on the web, I e-mailed them in SD

Oh, that's all? I thought you were going to say Canada was going to become the 51st state.

[Valdoyes]

Oh, that's all? I thought you were going to say Canada was going to become the 51st state.

No, but they're negotiating to sell Quebec..... well, give Quebec.... to the US......... well, maybe pay a little to get rid of it.

Still negotiating

[RedImmik]

No, but they're negotiating to sell Quebec..... well, give Quebec.... to the US......... well, maybe pay a little to get rid of it.

Still negotiating

Ha, you can keep Quebec. Maybe the Gypsies would be interested.

[Hpdovoxm]

ScotiaBank RD has just given me their exchange rates.

$$CAD 38.76 to sell 40.41 to buy
$$USA 39.05 to sell 39.20 to buy


I think you have it wrong. They will pay you 38.76 RD per $CAD. You would pay them 40.41 RD to buy one $CAD
They will pay me 39.05 RD for per $US or I have to pay them 39.20 RD to buy one $US
Did I say that right?
You know what it means anyway.

Good time to send $$CAD to RD

There is no way to find this on the web, I e-mailed them in SD

I think you have it wrong or inverted as you guessed. They will pay you 38.76 RD per $CAD. You would pay them 40.41 RD to buy one $CAD
They will pay me 39.05 RD for per $US or I have to pay them 39.20 RD to buy one $US.
That means the $CAD is worth 0.29 RD less than a $US at Scotia Bank.

[exsmoker]

Well - today 10,000 RD cost 260.01 CAD - which is 38.46. And that is at the Scotiabank ATM ( about as "street" as I care to go )

[Valdoyes]

I think you have it wrong or inverted as you guessed. They will pay you 38.76 RD per $CAD. You would pay them 40.41 RD to buy one $CAD
They will pay me 39.05 RD for per $US or I have to pay them 39.20 RD to buy one $US.
That means the $CAD is worth 0.29 RD less than a $US at Scotia Bank.

Yes, I had a private lesson this morning from one our esteemed posters.

The CAD$ is still sucking the hind one..... better to go the US$ route.

Sorry if I mislead anybody - I certainly took myself for a wild goose chase