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$ AD 2.66 per U.K. Pound, not good :(
This has to be a wind up, please someone tel me that its gonna go up again :(
Hoping it look's better in a couple of months time, but who know's ... Cheers, |
Depressing isn't it!!!
Seems like a cruel joke that so many of us who have been waiting for a long time have finally got our visas only to have such a crappy exchange rate! We didn't risk changing any money until we had the visa in our hands, typical! We go on 13 April............ Do we wait..............? Sarah |
Re: $ AD 2.66 per U.K. Pound, not good :(
Originally posted by scoobydooathome This has to be a wind up, please someone tel me that its gonna go up again :( Hoping it look's better in a couple of months time, but who know's ... Cheers, What we need is a good war,that always boosts the quid BB-I'm e-mailing Blair now pretending to be Saddam,& calling him a gay-lord |
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I wouldn't hold your breath for an improvement in the exchange rate, that is if you are wanting to exchange sterling for Aus dollars.
There are few factors at play here. Firstly commodity markets are booming in the shadow of the Iraq war, the floundering US dollar and world stock markets in general. So commodities including Gold have been going up in price. Australia has a commodity based economy and as a result the Aus dollar is geting stronger. Secondly, the Aus dollar suffered tremendously during the dot com bubble years up to year 2000. No one wanted anything to do with commodities when there was "gold" in them thar dot coms. Money flowed into the US and UK stock markets. Now money is flowing out of the US and UK stock markets (have you noticed what the FTSE and DOW have been doing recently?) I don't have the figures handy but if I recall correctly the Aus dollar was $2.50 to the pound in 1996 or 1997. My guess is that it is headed that way again (or worse). |
Re: $ AD 2.66 per U.K. Pound, not good :(
Originally posted by scoobydooathome This has to be a wind up, please someone tel me that its gonna go up again :( Hoping it look's better in a couple of months time, but who know's ... Cheers, Changed my meagre sum on Wednesday, got $2.66, bloke at Halewoods reckoned that the decline might continue. 'spose it depends how long you can hold out for. I could have changed my money at $2.8 + but didn't want to risk it then as didn't have the visas at the time. bummer. Anyway its done now, so I'm never going to look at the rate again in case it rockets. Cheers, D |
Re: $ AD 2.66 per U.K. Pound, not good :(
Originally posted by scoobydooathome This has to be a wind up, please someone tel me that its gonna go up again :( Hoping it look's better in a couple of months time, but who know's ... Cheers, The rate moves up and down, however. I guess you have to assess whether it's better to have the money over in Oz or NZ (possibly earning a higher rate of interest) or wait for the exchange rate to improve. It is a bummer, though I'm hoping it improves by the time I need to move money. |
Re: $ AD 2.66 per U.K. Pound, not good :(
Originally posted by scoobydooathome This has to be a wind up, please someone tel me that its gonna go up again :( Hoping it look's better in a couple of months time, but who know's ... Cheers, |
Originally posted by Goose I don't have the figures handy but if I recall correctly the Aus dollar was $2.50 to the pound in 1996 or 1997. My guess is that it is headed that way again (or worse). We came over with an exchange rate of 2.62, which I felt was awful, considering it had been as high as 2.8 not long before we changed our money. However, even though it is depressing to see you`ve just lost "a car" or whatever because of the exchange rate (and I still kick myself for changing ours when we did), most expats over here work on an exchange rate of £1 = $2.50, and reckon anything above that is a bonus. |
Hi,
We are off at the end of March and have opened an a account with the commonwealth bank in London. We are putting all our money in this account and change it a little at a time when we need it, and they will watch the exchange rate for us, so we will agree on a rate and if it reaches that rate they will exchange it for us. Sue |
I hope the Oz dollar gets stronger and stronger .. I wanna go home for a holiday !!
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Originally posted by Goose I wouldn't hold your breath for an improvement in the exchange rate, that is if you are wanting to exchange sterling for Aus dollars. There are few factors at play here. Firstly commodity markets are booming in the shadow of the Iraq war, the floundering US dollar and world stock markets in general. So commodities including Gold have been going up in price. Australia has a commodity based economy and as a result the Aus dollar is geting stronger. Secondly, the Aus dollar suffered tremendously during the dot com bubble years up to year 2000. No one wanted anything to do with commodities when there was "gold" in them thar dot coms. Money flowed into the US and UK stock markets. Now money is flowing out of the US and UK stock markets (have you noticed what the FTSE and DOW have been doing recently?) I don't have the figures handy but if I recall correctly the Aus dollar was $2.50 to the pound in 1996 or 1997. My guess is that it is headed that way again (or worse). |
Originally posted by Herman Correct, consensus forecasts among the banks is that it will be 0.4 (or $2.5) on average over the next 3 years, getting slightly stronger each year. Coal prices are forecast to go up, gold prices are rising, copper prices are rising, zinc prices are rising. All in all its all good for the Aussie dollar but not so good for your British ex pat! Well it will always suit somebody - PB and some of the others should be ecstatic as they're going in the other direction. Actually aren't you going back to the Czech Republic soon Herman? How's their currency holding up with all this global uncertainty? 2thick |
The truth is that nobody knows which way it will go.
If any of us knew for sure then we'd all be stinking rich in a few months time. The natural place for the dollar should be around 50p because then Aussie prices and wages would be on a par with the UK. |
Re: $ AD 2.66 per U.K. Pound, not good :(
Originally posted by scoobydooathome This has to be a wind up, please someone tel me that its gonna go up again :( Hoping it look's better in a couple of months time, but who know's ... Cheers, Anyone know otherwise, |
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