Following. We're coming into an inheritance in Canadian dollars in the near future and I don't know what to do with it. Obviously can't convert to US$ at this point. Don't know when Canadian $ will go up again. Don't want it just sitting in the bank losing money. Not sure I want to lock it up in real estate (and it's not really enough to buy anything in Vancouver, which is the only Canadian city I'm familiar with).
You might see 1CAD:0.5USD before you see parity again. If you need to, transfer the money; 0.7 US IS what CAD is worth at the moment, there is nothing special about parity - it is not 'right'.
I mean.. if I had no need for the money, I'd be buying Canadian stock (VCN, ZCN, or whatever).
If you do need the money, check out EQ Bank. Seriously, 3% is the absolute best rate at the moment, and it is CDIC insured (up to $100k, I believe per account).
If you want monthly income, check ZPR, ZDV, etc.