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-   -   Currency Exchange (https://www.askmehelpdesk.com/showthread.php?t=804543)

  • Nov 14, 2014, 08:49 AM
    pastor1189
    Currency Exchange
    Neighbor has Canadian stock which gives a dividend of 0.72 a share
    If it is 72 cents that converts to 0.88044 to US currency . But does Canada
    Have Pennies to begin with? If not what does the 0.72 represent?
  • Nov 14, 2014, 09:24 AM
    tickle
    No pennies in Canada any longer. It is rounded off to 70 cents
  • Nov 14, 2014, 09:30 AM
    pastor1189
    Thank you so much
  • Nov 14, 2014, 06:52 PM
    wop48
    If money is transferred in anyway through internet,online banking (debit ) etc. cents still can be used. As for money in the pocket, rounding is now the norm.
  • Nov 14, 2014, 08:45 PM
    Fr_Chuck
    Normally if they own a certain number of shares, ( assume they do not just own one share) the .72 will be multiplied by the number of shares

    if 1000 shares, it would be .72, X 1000

    The total is transferred electronically to a bank. Of course, there may be conversion or transfer fees, changing it to US money

    I know, my bank, (same ownership US and China) charge me 5.00 to transfer money from US to China
  • Nov 15, 2014, 05:54 AM
    pastor1189
    Thanks Chuck. The 72 cents converts to 88 USA
    But if you have to pay fees, you wouldn't be ahead
    I guess
  • Nov 15, 2014, 06:55 AM
    Fr_Chuck
    You can always check with your bank, but I use the same bank, the bank I use here in China, and one I use in America have "agreement" I understand the bank here in China has partnership or ownership. But they still get me with a fee.

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