An exchange rate is the going rate you’d pay to trade your currency for another. For example, if you needed to exchange 100 US dollars (USD) for Canadian dollars (CAD), you’d check the exchange rate to see how many Canadian dollars you’d receive in return. So, if the exchange ra...
A lot of people aren't aware of the hidden fee. For example, if today's 'real' exchange rate between Canadian and U.S. dollars is 1.30, they are charging you an inflated rate of 1.34 - and pocketing the 3% difference as a fee for themselves. Unless you actually look at your...
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A lot of people aren't aware of the hidden fee. For example, if today's 'real' exchange rate between Canadian and U.S. dollars is 1.30, they are charging you an inflated rate of 1.34 - and pocketing the 3% difference as a fee for themselves. Unless you actually look at your...
* a hidden fee, by using an inflated exchange rate that is worse than today's 'real' exchange rate Inflated exchange rates - the hidden fee A lot of people aren't aware of the hidden fee. For example, if today's 'real' exchange rate between Canadian and U.S. dollars is 1....
* a hidden fee, by using an inflated exchange rate that is worse than today's 'real' exchange rate Inflated exchange rates - the hidden fee A lot of people aren't aware of the hidden fee. For example, if today's 'real' exchange rate between Canadian and U.S. dollars is 1.3...
The prime rate, also referred to as the prime lending rate, is an interest rate set by large Canadian financial institutions, such as the Big Six banks. While each bank sets its own prime rate, the posted prime rates for major banks are often the same. Their prime rates depend on the...
A percentage in point is the minimum possible change in the exchange rate between two currencies. While a percentage in point...
Only free-floating currencies are traded on the forex. More importantly,a few currency pairsdominate trading. Those pairs consist of two of the following: the U.S. dollar, the euro, the Canadian dollar, the British pound, the Australian dollar, the Chinese yuan, and the Swiss franc. ...
APR. APR is short for annual percentage rate. This number represents the total cost of borrowing money to buy a home because it combines your interest rate with fees, points and other lender charges. Looking at the APR different lenders offer gives you another way to compare costs. Appraisal...