Our OFXperts can help you identify opportunities in the market, develop a strategy to stay ahead of currency volatility—and if time allows, wait for better rates before you transfer.
For example, let's say you needed to pay a US$20,000 invoice. You received the invoice on May 1, when one Canadian dollar was worth US$0.70975. At this rate, your transaction would have cost CAD$28,179.
However, the markets shifted and the US dollar weakened to US$0.72614 on May 31. The same transaction would now cost CAD$27,543—saving an extra CAD$636.