Our trip should have started in April. Back then, a Canadian dollar was worth 1.15 Australian dollar. Today, a Canadian dollar is worth a bit less than an Australian dollar! http://www.google.ca/finance?q=CADAUD
So if we spend 10 000$ in Australia, this amounts to a loss of 1 500$.
This is no joke.
It is impossible to hedge currency fluctuations in Canada when our wonderful banks do not allow us to hold other currencies in our accounts (other than USD, which is now correlated to the Canadian dollar. I know, it is crazy).
There is one obvious solution. Find a good job in Australia :) That's the best hedging.
ReplyDeleteYeah, we thought about that. Because of all the paperwork, no employer would give us a job unless we make a minimum 6 months commitment. That would cut down a lot on the amount of time we have left to travel around the world. That's why we decided not to
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