Australian Dollar - exchange rate?!
Oct 1st 2008, 7:12 am
#76
Joined: Apr 2007
Posts: 2,517
Re: Australian Dollar - exchange rate?!
Well to all the people who said it would not happen.
It may not have got to $2.30 but $2.26 as it was yesterday is alot better than $2.05 when this thread started.
My friend has told me to hang on to as much as I can in pounds for the moment.
I am now in Aus and had to change some to live on, I got $2.22 which was OK.
But still have most of my money in the UK so when the rate hits $2.40 I will change mine.
I am like others, once it hits $2.40 don't think I have the guts to hang on for $2.45, just in case.
Gav
It may not have got to $2.30 but $2.26 as it was yesterday is alot better than $2.05 when this thread started.
My friend has told me to hang on to as much as I can in pounds for the moment.
I am now in Aus and had to change some to live on, I got $2.22 which was OK.
But still have most of my money in the UK so when the rate hits $2.40 I will change mine.
I am like others, once it hits $2.40 don't think I have the guts to hang on for $2.45, just in case.
Gav
I changed quite a bit when it reached 2.18 and then some more when it hit 2.25 - Fortunately (or unfortunately), the house sale hasn't gone through yet, so i've not changed anymore. Looks like we'll be leaving our pensions in the UK now though
Oct 1st 2008, 11:09 am
#77
Forum Regular
Joined: Jan 2008
Location: adelaide
Posts: 39
Re: Australian Dollar - exchange rate?!
Do you feel safe with your cash in uk banks in the current crisis? We are in same position. Then again if you bring it over here none of its guaranteed is it.
Oct 1st 2008, 9:53 pm
#79
Joined: Apr 2007
Posts: 2,517
Re: Australian Dollar - exchange rate?!
My OH rang and spoke to someone at West Pac who said that although they've not got the same sort of scheme as the UK (£50,000 guaranteed), they would be obliged to repay investors before other creditors if they got into difficulty - how true it is i don't know, but it's a bit late for us now, just got to hope it doesn't go bust
Oct 4th 2008, 7:38 am
#80
Citizen Of The World
Joined: Dec 2007
Location: Vancouver, BC, Canada
Posts: 592
Re: Australian Dollar - exchange rate?!
Very few banks go bust, or have gone bust in this particular crisis; the exceptions would be those that have sought Chapter 11 protection (if you're in the USA) and that is not really going bust. What's generally happened is that the share price of a financial institution has dropped hugely, and another bank (or a government in some cases) has bought it. That's a very different thing from going bust.
Maybe I'm being pedantic, but in times of crisis it's important to be aware of the distinction. Unless you're writing tabloid headlines designed to spread panic and make the whole situation worse.
b
Maybe I'm being pedantic, but in times of crisis it's important to be aware of the distinction. Unless you're writing tabloid headlines designed to spread panic and make the whole situation worse.
b
Oct 5th 2008, 4:33 pm
#81
Joined: Apr 2007
Posts: 2,517
Re: Australian Dollar - exchange rate?!
Very few banks go bust, or have gone bust in this particular crisis; the exceptions would be those that have sought Chapter 11 protection (if you're in the USA) and that is not really going bust. What's generally happened is that the share price of a financial institution has dropped hugely, and another bank (or a government in some cases) has bought it. That's a very different thing from going bust.
Maybe I'm being pedantic, but in times of crisis it's important to be aware of the distinction. Unless you're writing tabloid headlines designed to spread panic and make the whole situation worse.
b
Maybe I'm being pedantic, but in times of crisis it's important to be aware of the distinction. Unless you're writing tabloid headlines designed to spread panic and make the whole situation worse.
b
I take your point, but i wouldn't rule anything out in todays current climate. Personally I would feel a damn sight happier if everyone's savings were guaranteed, especially mine!
Oct 5th 2008, 11:51 pm
#82
Forum Regular
Joined: Sep 2008
Location: Brisbane since October 2008 (Ex-Kent)
Posts: 47
Re: Australian Dollar - exchange rate?!
$2.31 to the squid as I type! Can't last . . .
D
D
Oct 6th 2008, 12:39 am
#83
Harrip
Joined: Nov 2004
Posts: 495
Re: Australian Dollar - exchange rate?!
I think you have a short memory. Try something like http://www.oanda.com/products/fxgraph/fxgraph.shtml and you'll see the exchange rate has been higher than this for most of the last decade.
Last edited by harrip; Oct 6th 2008 at 12:44 am. Reason: Better link
Oct 6th 2008, 12:40 am
#84
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Australian Dollar - exchange rate?!
I think you have a short memory. Try something like http://www.oanda.com/convert/fxhistory and you'll see the exchange rate has been higher than this for most of the last decade.
Oct 6th 2008, 12:51 am
#85
Forum Regular
Joined: Sep 2008
Location: Brisbane since October 2008 (Ex-Kent)
Posts: 47
Re: Australian Dollar - exchange rate?!
That may be so H - but not in the period of personal interest to the missus and me (ie: the 12 months or so leading up to our move next week) 
Oct 6th 2008, 12:52 am
#86
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Australian Dollar - exchange rate?!
2.32437. If this keeps up I might bring some GBP over.
Oct 6th 2008, 12:57 am
#87
BE Forum Addict
Joined: Jun 2003
Location: Dawesville, WA
Posts: 1,192
Re: Australian Dollar - exchange rate?!
Well to all the people who said it would not happen.
It may not have got to $2.30 but $2.26 as it was yesterday is alot better than $2.05 when this thread started.
My friend has told me to hang on to as much as I can in pounds for the moment.
I am now in Aus and had to change some to live on, I got $2.22 which was OK.
But still have most of my money in the UK so when the rate hits $2.40 I will change mine.
I am like others, once it hits $2.40 don't think I have the guts to hang on for $2.45, just in case.
Gav
It may not have got to $2.30 but $2.26 as it was yesterday is alot better than $2.05 when this thread started.
My friend has told me to hang on to as much as I can in pounds for the moment.
I am now in Aus and had to change some to live on, I got $2.22 which was OK.
But still have most of my money in the UK so when the rate hits $2.40 I will change mine.
I am like others, once it hits $2.40 don't think I have the guts to hang on for $2.45, just in case.
Gav
2.33 today
. I am hanging on to see what happens to the rate on Tuesday after the RBA cuts our rate and before the BoE cuts theirs on Thursday. We are poised to exchange our money on Tuesday afternoon or Wednesday.
Oct 6th 2008, 1:42 am
#88
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Australian Dollar - exchange rate?!
Maybe some of this increase is the expected rate drop being factored in, but I agree it would be wise to wait until tomorrow.
Oct 6th 2008, 5:19 am
#89
BE Enthusiast
Joined: Jan 2007
Location: Perth, WA
Posts: 365
Re: Australian Dollar - exchange rate?!
Cooo...$2.36 at 05.39 BST today.
Haven't seen that for a while !!
(December last year for those that want to know!)
Haven't seen that for a while !!
(December last year for those that want to know!)
Oct 6th 2008, 5:23 am
#90
BE Enthusiast
Joined: Jan 2007
Location: Perth, WA
Posts: 365
Re: Australian Dollar - exchange rate?!
AU$ has lost 3% against £ overnight. £ has lost 2% against the yen in the same period.
Wish I'd bought yen on Friday !!!
