How to profit from parity - MoneySense

How to profit from parity

Tips on benefiting from the strong dollar.


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.