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Old Aug 27th 2009, 1:04 pm   #1
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Default 1.93's A$ to the Pound!!!

Just when we all thought it couldn't possibly get any lower, the £ has slipped into the high 1.93's today!

At this rate we won't be able to afford to move to Australia!
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Old Aug 27th 2009, 3:30 pm   #2
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Default Re: 1.93's A$ to the Pound!!!

As I predicted in another thread - it may go as low as $1.80
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Old Aug 27th 2009, 3:36 pm   #3
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Default Re: 1.93's A$ to the Pound!!!

The euro isn't doing too bad though against the AUD, about 1.72AUD to the euro.
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Old Aug 27th 2009, 3:58 pm   #4
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Default Re: 1.93's A$ to the Pound!!!

I remember when it was $3 to £1 - not that long ago either. - ouch
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Old Aug 27th 2009, 4:18 pm   #5
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Default Re: 1.93's A$ to the Pound!!!

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Originally Posted by bjohn View Post
I remember when it was $3 to £1 - not that long ago either. - ouch
i can see 1.70 or 1.50- basket case uk
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Old Aug 27th 2009, 5:36 pm   #6
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Default Re: 1.93's A$ to the Pound!!!

Who know's whats going to happen next but it really doesn't look good.

I didn't take advantage of "the spike" back in October but still heading out in a month or so. The one thing it did force me to do was get a job first & I can wait a year or so for things to improve ... if they do!???
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Old Aug 27th 2009, 6:24 pm   #7
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Default Re: 1.93's A$ to the Pound!!!

don't think I'll be going, I'm a builder so no chance of getting work before I get there.

probably have to sit it out or forget it!
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Old Aug 27th 2009, 6:36 pm   #8
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Default Re: 1.93's A$ to the Pound!!!

The 1.93 rate is interbank rate. People who transfer money over get less than that. HiFX is giving a quote of 1.87 this afternoon.
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Old Aug 27th 2009, 7:52 pm   #9
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Default Re: 1.93's A$ to the Pound!!!

So looks like I was right to buy our house at what I thought was a poor 2.15 - 2.18 earlier in the year. Shockin' now!
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Old Aug 27th 2009, 8:24 pm   #10
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Default Re: 1.93's A$ to the Pound!!!

I just went on the BBC site to check and the bottom of the graph is blacked out - like it's too ashamed to show me! AND SO IT SHOULD BE......... We are lucky in that we only have a little left but it's still annoying.....
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Old Aug 27th 2009, 9:14 pm   #11
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Default Re: 1.93's A$ to the Pound!!!

Quote:
Originally Posted by Beachband View Post
The euro isn't doing too bad though against the AUD, about 1.72AUD to the euro.
Actually, look at the GBP/AUD chart compared to the EUR/AUD chart for the same period (the last 6 months).

It's effectively the same relative decline for both of them against the AUD.
Crunch the actual numbers though and you will find the EUR has dropped more than the GBP in the last 6 months !

Relative drop in Exchange rate value over the last 6 months :
GBP/AUD : 11%
EUR/AUD : 15 % !!!
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Old Aug 27th 2009, 10:35 pm   #12
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Default Re: 1.93's A$ to the Pound!!!

Quote:
Originally Posted by mindblower View Post
i can see 1.70 or 1.50- basket case uk
make yourself a fortune put you money were your mouth is or are you not that brave. Just admit it you have no idea & just like to see your thoughts on here as we all would like to think we know it all but we dont.
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Old Aug 27th 2009, 10:39 pm   #13
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Default Re: 1.93's A$ to the Pound!!!

Would there be any point to putting, we say something like 10 or 15k(euro) into my credit card and using that, as opposed to buying the AUD in that amount and putting it into my Oz bank account?

Would it be slightly riskier(value getting worse) to put that amount of euro into my credit card and use that in Oz as opposed to buying that amount in AUD's?

Or is it all the same either way?
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Old Aug 27th 2009, 10:44 pm   #14
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Default Re: 1.93's A$ to the Pound!!!

it's all grim reading and this will stop alot of people moving to Oz, that will be a big reduction on the money flow coming into oz!

I still believe that Australia will get an aftershock of this recession, they have held on well with Mr Rudds hand outs and China demand but that can't go on for ever!

China is begining to look a little shaky and they too have been relying on government stimulus to make up for lost exports, it all has to stop at some point and unless we the consumer have the confidence to "buy buy buy" then the recovery will not happen!

This will be a very interestng few years, nothing will happen overnight.

Consider this: around this time last year the pound had been buying around 2.03 to 2.05 australian dollers for months and looking very very weak! By October, if you were lucky enough to have the cash and get the timing right you could have got a rate of 2.70!!!!!!
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Old Aug 27th 2009, 11:42 pm   #15
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Default Re: 1.93's A$ to the Pound!!!

That's true...MrCro I remember it dropping to 2 last year and then wow come Oct it might happen again as we'll then have our equity from our UK house sale.

The Aussie $ is too strong at the moment - I was reading in the paper yesterday that some big film was going to be shot here next year but the strong $ has pushed up production costs that they not coming now. Likewise any bands wanting to come to Oz and even tourists won't come because it's just too expensive now so that's not good for Oz either.

We are ready to buy in Oz now and have managed to get more for our house than when we left 2.5 years ago but just don't want to bring it over until it improves a bit and just hoping house prices won't rocket in the meantime and we'll be back to square one! Grrrr it's so annoying!

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