Monday, April 4, 2016

When a loonie is more than a loonie - and doesn't buy very many dirhams

I don't usually get too excited about currency fluctations - the drop in funds that I experienced when transferring money into US dollars back in 2008, when I moved here was shocking and I totally freaked out when my financial adviser showed me the figures. Since then I have calmed down, having the benefit of time to see that what goes around comes around. Having said that, I did just transfer a chunk of savings into Canadian dollars with the idea that it is either a good time to invest in property back in Canada or just hang onto the Canadian dollars until the US dollar weakens. A foreign exchange expert I am not.

One thing I do know is that it's important to diversify your currencies when living over here, and yes, also to possibly take advantage of the dollar's fluctuations. The National breaks down the current dollar situation here.

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