Monday, February 07, 2005

Another Case of Gelnaw's Law

The American dollar has been doing pretty crapily over the last 4 years. I've posed several other rants on this topic. I've always regretted leaving my cash in myAmerican acount but did so till now in the hope that there was no way that it could keep falling. So over the winter break, I withdrew all of my funds and deposited it into my account here in Alberta. Naturally, I got a crappy exchange rate and a 30 hold was placed on my check. I'd really only anticipated a 10-15 day hold, so I was in a bind with all my assets frozen. I finally broke down and asked my parents to wire me the money to pay my rent. They got an even worse exchange rate. In a complete turn from the expected, the American dollar has been doing great since then. It's gone from 83 cents being equivalent to 1 Canadian dollar to about 79. It may not seem like much, but when you're talking about the thousands of dollars I spend on tuition, it adds up.
On the bright side, apparently the advertizing folks haven't realized this, so if you click on the exchange rates link at the right, there's a good chance that you'll see an add for how to cope with the falling US dollar (ie, it's a good time to buy foreign currency; HAh!) Therefore, they're giving bad advice to people and that should hopefully push the dollar back down in value.

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