It seems an age since I was last in Gabriola - taking possession of our new home. Back in the fall, the Canadian Dollar was at $2.03 to the £ when we completed the purchase - which was great, as our offer had been based on an exchange rate of $1.89 - se we were very pleased when the time came to transfer the money from the UK.
Since then the bubble has burst worldwide - nowhere more so than in Canada, so the folks out west tell me. As the weeks ticked by, Christmas came and went, and by mid January the Canadian dollar had strengthened against the £ - and at one point we could only buy $1.69 to the £! And you think the Canadian economy is in a mess.....
Right now, with renovations to be started, we have watched the exchange rate daily - waiting for that golden moment to transfer more of our savings to our Canadian account. For one day - just one day, mind you, the rate was at $1.80 to the £ so, of course, we had to decide whether it had peaked .... or if it would continue to rise (or is that fall?)
It's all guesswork of course, so we moved some money that day..... and more a couple of days later as the rate started to slip once more. Right now? It's still at $1.78 to the £, so maybe we got in just in time!
So, with British Airways' co-operation, it's almost time to go. Next update will be from Gabriola.
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