Need help to hedge Proof of Funds

[MohMak]

Hi all

Can any one advice me how to hedge the devaluation of my home currency. i am much worried that till my process starts, the value of my bank balance will be drop down drastically as CAD or USD is getting stronger day by day. What u ppl will suggest me to do ?

1. Should i open Dollar account ?
2. Currently banks are offering USD, GBP & euro current account. Should i go for USD.
3. How IRCC/ immigration personnel do calculation for conversion of funds. Will they calculate USD to CAD conversion OR USD to home currency then CAD.!!

Pls suggest if you know other way out.

5. Also, how much currency we need to bring to Canada on very first arrival.?
6. Can i bring required equivalent USD to Canadian airport instead of CAD and later on convert into CAD on same airport after getting out of immigration checkpoint or lounge.??

 

[MohMak]

Anyone around the world ??
Someone from Pakistan ?

 

[MohMak]

Anyone??

 

[MohMak]

???

 

[wraithbuddy]

Hi all

Can any one advice me how to hedge the devaluation of my home currency. i am much worried that till my process starts, the value of my bank balance will be drop down drastically as CAD or USD is getting stronger day by day. What u ppl will suggest me to do ?

1. Should i open Dollar account ?
2. Currently banks are offering USD, GBP & euro current account. Should i go for USD.
3. How IRCC/ immigration personnel do calculation for conversion of funds. Will they calculate USD to CAD conversion OR USD to home currency then CAD.!!

Pls suggest if you know other way out.

5. Also, how much currency we need to bring to Canada on very first arrival.?
6. Can i bring required equivalent USD to Canadian airport instead of CAD and later on convert into CAD on same airport after getting out of immigration checkpoint or lounge.??

1. You can choose any currency.
2. As you wish.
3.Usd to cad directly, but you should keep yoyr money with some reserve (at least +500-1000 cad)

 

[Copingwithlife]

Hi all

Can any one advice me how to hedge the devaluation of my home currency. i am much worried that till my process starts, the value of my bank balance will be drop down drastically as CAD or USD is getting stronger day by day. What u ppl will suggest me to do ?

1. Should i open Dollar account ?
2. Currently banks are offering USD, GBP & euro current account. Should i go for USD.
3. How IRCC/ immigration personnel do calculation for conversion of funds. Will they calculate USD to CAD conversion OR USD to home currency then CAD.!!

Pls suggest if you know other way out.

5. Also, how much currency we need to bring to Canada on very first arrival.?
6. Can i bring required equivalent USD to Canadian airport instead of CAD and later on convert into CAD on same airport after getting out of immigration checkpoint or lounge.??

I’d be bullish on the USD, bearish on CAD
Meaning markers indicate CAD will drop, and even though the USD is showing weakness right now in correlation to other world currencies, expectation is that with American Government support in the works , and strong tech stocks, it’ll strengthen, at least in the short term