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Up to the $95,000 range, Johnson says that there‘s about a four cent difference between the buying and selling rate of U.S. dollars at the chartered banks, He said within that range there‘s plenty of opportunity to save clients money and make money themselves. "Over the counter, the bank may be buying U.S. money at $1.33 and selling it at $1.37, a difference of 400 basis points. By the time you get to the large transactions, over $100,000, they might be "Take for example a local company that exports items and pays for it in U.S. currency. We would buy the currency from them and give then} a good rate in Canadian currency," said Johnson. the market niche is. Banks become more competitive with the larger the transaction, but with that $5,000â€" to $95,000â€"range there‘s a huge profit range that the banks have built in, and theres a market niche for a company like ours to buy and sell foreign curâ€" rency in that range," said Johnson. With 19 offices across Canada, the brokerage * firm caters to local importers and exporters guarâ€" & anteeing them better than bank exchange rates. « According to branch manager David Johnson, there‘s a high profit margin in the bank rates between the transaction sums of $5,000 to Davi $95,000. Custom House‘s niche is that they buy and sell in that range, giving their customers a better deal for their dollar. "There‘s a high profit margin in the banks: rates and that‘s where Buying and selling foreign currencies is big money for Custom House Currency Exchange, Canada‘s largest foreign exchange brokerage, which recently opened an office at 20 Erb St, Suit 1202, in the Marsland Centre. resources and that is often done best through the are economists interested in "manna" to the private sector and the market place, using price . MRTTRE T PTeRRETRIMIA . exclusion of how to best allocate the resources. as the allocation mechanism. It is true that the Even though 1 teach in the team teaching of market breaks down on occasion and government must interâ€" _ the fullâ€"time MBA, as an economist, I teach about the environâ€" fere BUT the number of instances when this happens is far more _ ment in which business decisions are made (the macroâ€"econâ€" infrequent than what some people would have us believe. (Continued on page 14) note that economics does overlap many different subjects but in my area of government finance, political science seems the most relevant subject. Indeed, as 1 graduated in Honors Economics and Political Science, attended London School of Economics and Political Science and took one of my four fields in the doctorate area from the political science department at the University of Alberta, 1 feel quite comfortable intermixing the two fields. However, reality also tells me that they are really quite different in emphasis and even in methodology. Economics is the study of allocating scarce It is probably time to bring the column back to its original _ In particular, it has been noted that there are many people purpose â€" that is to deal with economics. I find it interesting to who feel the Liberal government in Ottawa and the PC governâ€" Getting the best deal for your dollars BUsiveEss Talking politics and economics Tuesday November 28th, 2:00 to 4:00p.m. & 7:30 to 9:00p.m. 11th in a series of free events THE CURRENCY EXCHANGE Peter Cudhea Chronicle Staff c o m m uU n d It AGURES "We also saw people, who had no need to buy U.S. dollars, buyâ€" ing U.S. dollars as a hedge, or an asset conservation strategy. They weren‘t going to make a U.S. investment, they just wanted to get into U.S. market. With the ‘No‘ vote we saw a strengthening in the Canadian dollar to about 200 basis points overnight. It‘s basically gone back to the preâ€"referendum level since then. Eo is : "A lot of our local firms are importers or exporters. There‘s a good diversity of mediumâ€" 3 size firms that would fall into the market niche ohnson that we would find attractive. "We don‘t only service Waterloo, but we also actively solicit business in Kitchener, Cambridge and the Guelph area from this location." In the two months since opening, Custom House Currency Exchange has attracted more than 100 customers, many repeat cusâ€" tomers. Approximately 90 per cent of their business involves exchanges with the U.S. market, while the remainder is with the British Pound, German Deutschemark and the French Franc. To demonstrate just how volatile the Canadian dollar is, Johnâ€" son said that leading up to the recent Quebec Referendum there was panic buying where clients, who had upcoming U.S. requireâ€" ments, were buying their U.S. funds right away thinking that the Canadian dollar in a ‘Yes‘ vote would sink more than it ever has. Concemed about the amount of stress in your life? When stress makes it difficult to think straight or to control emotions, your physical wellbeing may be affected. This year, open the safety vaive on pressure. Don‘t subject yourself to unnecessary pressure. Come, learn how to do this practically. Join presenters Dr. David Rainham, Family Physician; George Vanderschaa!, Clinical Social Worker, and Caroline Woems, of the YMCA. Free admission, no registration necessary . ment in Ontario have bent too far towards satisâ€" fying the "business interests" in trying to contain the budget deficit. There is even one columnist in this newspaper who espouses such a view. Note that economists often get labelled with the "business interests" and sometimes are shackled with the label of being too interested in "manna" by religionists too. 1 would argue that economics, while related to politics in that one has to consider what to do when the market breaks down, is allied to business in dealing with issues of what is the best time to invest, but ecoâ€" nomics does not put one ahead of the other. Nor are economists interested in "manna" to the exclusion of how to best allocate the resources. Even though 1 teach in the team teaching of buying at $1.3551 and selling it at $1.3556, down from 400 basis points to about five basis points, or five one hundredths of a cent." _ Johnson recommends that people who often travel across the border should open a American Funds account so they‘re not going both ways with their dollar. With a wide diversity of businesses in Waterâ€" loo, the decision to open a Custom House Curâ€" rency Exchange in this area was an easy one. 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