Foreign Currency

From: Rob Agnew (ragnew@islandnet.com)
Date: Fri Oct 30 1998 - 21:23:49 EST


<snip>
>These are according to archives at the federal reserve bank of Chicago....

>so in a perfect world, they should have been giving me a 16% discount
>(1/1.19=.84 $US for 1 $CN) for that trip... but these guys were perfectly
>willing to make a little on the deal....but I don't think it was a "rip
>off"... today the rate is more like 1.54... so now 10% would be a real rip
>off...

>Gary Shook

Accepting foreign currency is a courtesy extended by many business' to our
friends from the south. Generally you pay a small surcharge for this. If
you want the current rate of exchange, best go to a bank.

Gary said this happened in the 'back woods' of the Yukon. The owner of the
gas station probably would have to drive many miles (at $.85/litre) to do
his banking and exchange the money.

In the reverse this is not necessarily the case. Northern US border towns
(or resort towns like Vegas) will accept $Can., but with those exceptions,
I have found that most US business' will not accept Canadian money.

Rob Agnew
ragnew@islandnet.com

Victoria, B.C.
Canada



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