US/Canadian Exchange Rate

[Al Thorn]

For many US RPS players, the favorable exchange rate between US currency and Canadian currency is a favorite part of the annual pilgrimage to Toronto.  Like many other third world countries, Canada is still a place where the Yankee Dollar can get you a good meal, a good room, and a good piece of...well, you get the idea.

In recent years. the International Banker Conspiracy has moved to check the virtually limitless potential of the American economy by lowering its exchange rate vs other, lesser currencies.  Just two years ago, for the first time in World RPS history, the US Dollar had an exchange rate of less than 1 US Dollar to 1 Canadian Dollar.  Last year, the exchange rate flipped just prior to the tournament weekend, giving unexpecting tournament-goers a welcome boost of their spending power while in the Big Smoke.

The purpose of this topic is to track the exchange rate between the two currencies for the next month, making recommendations to the wise Professional Player as to good times to trade in their greenbacks for that funny-looking Monopoly money they use north of the border.  For the more established players, the difference will be negligible, but for rookie and journeyman players, it could mean the crucial difference between buying their own beer or having to hustle other players into buying it for them.

As recently as April, the US Dollar traded for a relatively high 1USD = 1.18 CAD.  This is close to the "everything is 15% off" rate common in early years of the World's.  For Philly players, this means that a $3 special (a can of PBR and a shot of Jack) would cost $2.50.  By May, the exchange rate dropped precipitously, followed by a general upswing through Mid-June.  Currently, the exchange rate is neck-and-neck with $1 USD buying you $1.03 Canadian.  This isn't a huge difference, and the Information Task Force recommends HOLDING for now.  A mild improvement is noticeable over the past few weeks, and current indications are for this trend to continue.  If you still have Canadian dollars left over from last year, you will enjoy a slightly higher return rate, though still not keeping with inflation; hold as well.  For the best exchange rates, do not use Traveller's Exchange in Toronto's Pearson airport.  You will get a much better rate of return by simply using your ATM card (airport moneychangers charge a fee, usury in my book.)  If the Information Task Force issues a TRADE suggestion, you may simply use the local branch of your bank, fools that you are for keeping your money there.  What makes a Federal Reserve Note real in the first place?  My best guess is that they keep a magic wand in their basement, with which they bless the money that they print.  If you can think of a better explanation, please let me know.

For Australian visitors, my recommendation is also to hold for now.  The Aussie dollar took quite a beating in the early part of the year, suffering an exchange rate with the Canadian dollar similar to the "15% off" rate enjoyed by Americans visiting Canada in the past.  After bottoming out in late June, the Aussie Dollar is staging quite a comeback, and our expectations are for it to be exchanged favorably by tournament time.  As always, more news as it develops.

[C. Urbanus]

You will get a much better rate of return by simply using your ATM card (airport moneychangers charge a fee, usury in my book.) 

American banks typically charge a $5 foreign transaction fee on every withdrawal.  Make sure to take out one large sum at the beginning instead of several smaller withdrawals - or be forced to walk home from the Championships, in the style of Team Norway in 2008.

[Jef Hallestone]

Man oh man do you guys look at things backwards. The prize purse is in Canadian dollars so as long as you are expecting to win it, then it is worth 15% more to you.

Note: Yes, the total purse has been lowered over 2009, but this is balanced out by the lower ticket price for those that buy in advance.

[Master Roshambollah]

You've got a couple of good points, Jef, and I'm not talking about the ones on your head.

From my own playing years, if you're not factoring the prize money into your budget, you're virtually challenging yourself to fail.  Still, out of the 500 or so players who plan on winning, most of them will be wrong.

I commend the Society on lowering the entry fee for advance purchase.  What with the recent excitement of Doug Walker's promotion to Chairman and the HK tourney, this fact was lost.  Even last year, there were grumbles about the increased price of the tourney among the more destitute players.  This move rewards the players who plan and train in advance, especially non-Canadian players (local players can just decide last minute to show up, compete, and (typically) fail.)  The $15 difference may not seem like much, but it will be welcomed by all players.  This move also suggests that the Society achieved a sponsorship sizeable enough to allow a reduction of price.  Instead of pocketing the difference, the Society moved to give a little back to the players.  If this act is indicative of the tenor of Chairman Walker's term of office, then it bodes nothing but good for the Society as a whole. 

Speaking of Chairman Doug Walker, there is a question Al asked that remains unanswered.  What happened to the other Walker brother, Graham?  To be honest, I could never remember which was which, so I'm not sure if our new Chairman is the intense one or the laid-back one.  I would have assumed they would be co-Chairmen if anything happened to Wojek.  Speaking of Wojek, how is he taking the demotion?  Was there a coup?  Is Wojek even still among the living? Anybody have any clues?

[Al Thorn]

Roshambollah, it is entirely possible that Doug Walker's coup was unsuccessful.  This recent article refers to Doug as merely an "avid member." At this point, any card-bearing Society member (that is to say, the few of us remaining who got membership cards when they were still being offered) would be given to ask "just what the heck is going on with the Society's leadership these days?"  A good question indeed...

[Al Thorn]

Current exchange rates are $1 USD for $1.0524 CAD.  This is an increase of $.02 for the dollar, and this trend is expected to continue.  US players are advised to HOLD for now.

The Australian Dollar currently trades for $.973642 vs the Canadian Dollar, the highest it has traded all year.  Australian players are also advised to HOLD.

The Norwegian Kroner is currently worth about $.20 Canadian, which explains in part why Team Norway is staying at home this year.

[custardchuk]

As Urbanus noted, It's a sad day for many RPS pro's when the Kroner is worth so little.

[Jef Hallestone]

But the real question is not about how much the Kroner is worth but the Krueger.

[C. Urbanus]

Jef,

That either the worst joke or silliest statement perhaps ever in this forum.

[Jef Hallestone]

Uh oh, Urbanus. Comments like that lead to polls trolls.

 In fact, that could be 2 polls

- Worst joke ever on Bullboard
- Silliest Statement ever on Bullboard

[R Cohrs]

I nominate myself for pretty much anything I said within the first 24 hours of finding the site.  Glad those posts have disappeared into the ether.

Or anything that srn ever said in his short pathetic career.  Hope the winds of fate have helped him attain something better these days.  Most likely just flaming around another site.

Also anything related to that time all those people burnt up the boards for about a week because of that radio show thing. 

[Al Thorn]

Hubba hubba!  The USD:CAD exchange rate is now a beefy 1.07783, up almost .05 since the start of this topic.  More conservative US players may now choose to trade in their greenbacks for beaver pelts, but the ITF still advises to HOLD for now.  We feel that a greater rate of return will be in effect by tournament time, perhaps as high as 1.12, which is our prediction.

The AUS:CAD exchange rate is now .980219, a new high for the year.  It is perhaps optimistic to expect a 1:1 rate come tournament time, but it should be quite close, within a few tenths of a percent.

[custardchuk]

About time!

I've never understood why Americans only ever three quarter filled my beerglass when I gave them a dollar and we always gave them an extra shot glass when they paid us.
Until Al posted this excellent economic rationale, I'd simply assumed it was because Americans were just tight arsed and I let it go.

regards
custardchuk

[KESSOLEOCCUTS]

Dont know if this has been asked before... I just wanted to know how much it will cost me in AU to become a premium member. Does it go on the current exchange rate or is there a set rate all the time? Maybe other aussie premis can tell me how much they paid? Thanks

[R Cohrs]

I hear it's a fluid rate.  The more alcoholic fluids you ply chuk with, the less he's apt to charge you for the special premium AU membership, which does include a nifty wooden stick that might come in handy to chase off those pesky New Zealanders.