That’s kind of what we are doing too. Looking for the best time to shift the UK cash over here without losing too much to exchange and transfer fees. This isn’t my cash by the way.
Exchange and transfer fees are one thing, also consider the exchange rates.
Fluctuations in currency values can also be a win/lose thing. Over the last 30 days, the Canadian peso has lost 2.5% against the GBP, that means 60K GBP is worth $3000 CAD more today than it was a month ago.
That’s exactly where we are at the office , pull 500k US into CDN on the wrong day and it’s + or - 5grand . That adds up .
We also pay so many invoices in US , you need the hedge fund anyway , but a smart trader is a handy fellow . My cousin works for a large brokerage firm and his job is predicting which currency will go up / down and buying it . He jokes with 100 world wide currencies, you don’t really need to be very concerned about 90 of them .
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