Common
Norbert's Gambit
Currency conversion technique
Norbert's Gambit
Norbert's gambit is a technique used primarily by Canadian investors to convert Canadian dollars (CAD) into U.S. dollars (USD), or vice versa, by trading dual-listed securities (or an ETF with CAD and USD units) and asking a broker to journal the position from one currency line to the other. The method reduces or avoids the retail foreign-exchange spread normally charged by brokers and banks.
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