How to profit from parity - MoneySense

How to profit from parity

Tips on benefiting from the strong dollar.

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With the Canadian dollar hovering around parity, Globe Investor has suggested some tips for getting the most bang for your at-par buck.

Opening a U.S. bank account is a wise idea for anyone looking to travel to the United States on even a semi-frequent basis. Partner your account with a U.S. dollar credit card and you’ll save yourself the 2.5% currency conversion fee that’s common at most banks.

Investing in marked-down luxury goods is another smart idea. Porsche, for instance, has just announced price cuts of up to $10,500.

Other good options include buying U.S. stocks and properties.

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