I have a substantial amount of money in USD that I need to convert to CAD and I need to know if the CAD will decrease in the upcoming months or so. When is the right time to convert, and what is best way to convert with losing the least money possible. Bank? Money Mart? other?|||Short version: that isn't knowable. Not with any high degree of certainty. The USD is currently strong(er) on a path that is projected to be weak(er) in the long term future, but is highly uncertain. Very few of those currently screaming the loudest for a weak USD predicted its current strength. In fact, most of them made assumptions that turned out not to be true (again) about the relative strength of the USD as a world currency.
But none of that answers your question directly.
I would advise you to check with the big banks in Canada -- esp. one with which you already bank and get some quotes on conversion. Check a few different places. Assuming "substantial" means at least six figures, your quotes should be reasonable and close to each other. Most of the time, you should just do it (convert) unless the conversion is not in your favor (right now) compared to the exchange rate average (over the last 3 years, for example) and you don't actually need the alternate currency for a year or so (then wait to convert)
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