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CRAP. Must be a Canadian resident. 4.4% GIC (CD) 1 year term

Comments

  • Derf
    @Crash : Is the 4.4 % , American or Canadian money ?
  • CrashCrash
    Derf said:

    @Crash : Is the 4.4 % , American or Canadian money ?

    hello. i know it's common for canadians to hold u.s. funds accounts. but here, i'm sure they're expecting you to deposit loonies. it's an internet bank, too. no branches to do business at.
  • Sven
    Think that is in Canadian $. With the exchange rate today $1 USD = $1.29 CAD, does it convert to 3.41% yield (4.4% / 1.29 = 3.41%)?

    If that is correct, it is higher than 1 yr CD in US, 2.90% as of last week.
  • MrRufflesMrRuffles
    Sven said:

    Think that is in Canadian $. With the exchange rate today $1 USD = $1.29 CAD, does it convert to 3.41% yield (4.4% / 1.29 = 3.41%)?

    If that is correct, it is higher than 1 yr CD in US, 2.90% as of last week.

    Not sure how the exchange rate would impact the yield except for the exchange rate risk at the end of the term.
  • yogibearbullyogibearbull
    Yep, only a CHANGE in exchange rate at maturity would affect the yield. So the CURRENT rate of 4.4% remains (in Canadian or US money) until the exchange rate changes.
  • CrashCrash
    +1. yes, loonies = CAD.

    image
  • CrashCrash
    and just for fun, here's a two-nie.
    image
  • Derf
    I hope their $2.00 nie worked out better than Our $2.00 bill
  • CrashCrash
    Derf said:

    I hope their $2.00 nie worked out better than Our $2.00 bill

    Coming from the East, I noticed some $2 bills in the West when I went out to go to school. Spokane. In the East, they have been like hen's teeth since... forever.

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