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Strategies & Market Trends : NetCurrents NTCS
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To: Michael Watkins who wrote (5303)1/9/2001 7:30:31 PM
From: Ally  Read Replies (1) of 8925
 
Michael,

Re: RRSP, have you looked into maintaining a US money market fund in the RRSP account and redeem/deposit on buying/selling US stocks? US money market is domestic content and not subject to foreign content. The advantage is the avoidance of foreign exchange spread which the banks from on each trade. TD Waterhouse would use same exchange rate on the money market and stock transactions so there is no spread. However, you would need to call them and ask for this treatment on each trade since it is not automatically set up to do so. Also, important when doing the initial bulk conversion into US money market ("inventory dollars") that the exchange rate is favourable. At this time, with US rates going down, and Cdn rate stable, there is good probability of Cdn dollars going higher.... in which case, better to wait till US rates have gone down further.
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