Canadian Dollar Denominated Account

[Premierview]

I will need to pay approx. 80k Euro later this year for a service from a Canadian company. I am a private individual, resident in Ireland, not a business. I have the money now and as the exchange rate is currently quite favorable, I'm wondering is there any way I can convert my euros to Canadian Dollars right now, in other to gain from this.
Can I open a Canadian Dollar denominated bank account or is there another way to do this?

 

[Lightning]

One should keep savings in currency that you are going to spend the savings in to avoid FX risk. As you are going to spend in CAD, you should convert savings to CAD and the sooner the better to get rid of the FX risk attached to your savings.

Step 1 is to open a CAD account. Investec offer CAD accounts for example.
Step 2 is to use an online currency broker to convert from EUR to CAD. Do not use default bank FX rates.