canadian currency exchange?
 

hello all!

i need to convert a substantial (tens of thousands) amount of money from canadian funds to australian funds. i'm just wondering if anyone had advice where i might get the best rate?

(i hope this is the right place to post this message - i really wasn't sure)

If and when your money is sitting on a bank account, tell your bank to wire transfer it to (your) Australian bank account or they can give you a BANKERS CHECK/Order Check in Australian Dollars.

They will give you this exchange rate**) plus a fee of some dollars ($ 30 to $ 50), if it would have been done today.

If you buy cash/notes you your rate would be worst.
If you have cash/notes and want cash/notes it gets even more worst.

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Thursday, January 17, 2002
**)
1 Canadian Dollar = 1.20605 Australian Dollar
1 Australian Dollar (AUD) = 0.82915 Canadian Dollar (CAD)

Median price was 1.21788 / 1.19446 (bid/ask)


OTHER RELEVANT CONVENTIONS

1 Canadian Dollar = 0.62112 US Dollar
1 Canadian Dollar = 0.70582 Euro
1 Canadian Dollar = 0.43133 British Pound
1 Canadian Dollar = 82.34783 Japanese Yen
1 Canadian Dollar = 1.37888 German Mark
1 Canadian Dollar = 4.62112 French Franc
1 Canadian Dollar = 1.03727 Swiss Franc

why would a bank charge differently between cash and a banker's draft?

Cash = Sortenkurs
Check = Devisenkurs

"...Der Devisenkurs ist das an den Börsen festgestellte offizielle Austauschverhältnis zweier Währungen. Der Sortenkurs ist der Preis, der beim Umtausch von Bargeld berechnet wird...."
Sorry, could not find it in English.

http://www.s-web.de/root/euro/HTML/euro0181.htm

Sortenkurs = Devisenkurs + Fee to store, handle the actual notes (from different countries).
Plus the bank does NOT get interest on the cash/notes (like your money under the pillow!) while keeping/storing it.