Friday, May 12, 2006

Three Cheers for the Loonie!

Toronto, Canada--- So every time I travel to Canada, I conveniently forget all of my Canadian money at home. I have to hit the ATM with a 2% fee. Turns out those withdraws are the best investment I've made in a while.

You see, in the last four years the Canadian dollar (Loonie) has strengthened versus the US Dollar (Greenback). Four years ago, one Canadian dollar was worth 62 cents US. Now it's worth 92 cents US. So by withdrawing Canadian dollars from the ATM, and holding on to that cash, I've actually turned a real profit even after fees. Feel free to use the ATM Investment Strategy for your own benefit!