08-22-2002, 10:00 PM
Actually, it's not all the same.
The Canadian and US dollar value fluxuates constantly. If you do most of your business in one currency, it's hard to tell what exchange rate you'll get when you cash a cheque.
I'm guessing that JunkieJoe's suppliers in HK deal in US currency so he keeps a separate US bank account for doing business. I guess he could over charge Canadian funds to allow for mild fluxuations but could end up getting the short end of the stick if the exchange rate changes too quickly.
I live in Ontario and used to work at the bank. The bank I worked at updated exchange rates every 10 minutes. There is no good way to predict what the dollar will do.
A lot of foriegn countries use the US dollar as a standard for trading because it is considered to be one of the more stable economies in the world. The Euro has been gaining in popularity as well.
In the long run, your best bet is just to use PayPal to make payment and accept whatever exchange rate your credit card company gives you. Most banks in Canada charge about $5 for a money order any more (which still isn't too bad if that's your only option).
The Canadian and US dollar value fluxuates constantly. If you do most of your business in one currency, it's hard to tell what exchange rate you'll get when you cash a cheque.
I'm guessing that JunkieJoe's suppliers in HK deal in US currency so he keeps a separate US bank account for doing business. I guess he could over charge Canadian funds to allow for mild fluxuations but could end up getting the short end of the stick if the exchange rate changes too quickly.
I live in Ontario and used to work at the bank. The bank I worked at updated exchange rates every 10 minutes. There is no good way to predict what the dollar will do.
A lot of foriegn countries use the US dollar as a standard for trading because it is considered to be one of the more stable economies in the world. The Euro has been gaining in popularity as well.
In the long run, your best bet is just to use PayPal to make payment and accept whatever exchange rate your credit card company gives you. Most banks in Canada charge about $5 for a money order any more (which still isn't too bad if that's your only option).
Gullible isn't in the dictionary.