chilliman

Up & down like it has been the last two weeks, I think it is on the back of the bounce in the asian markets or so a few people seem to be saying. I'm banking on the interest rate cut on Tuesday, also the outlook for the economy is starting to not look very "rosey" so who knows what lies ahead!??

Que cera cera!!

stephen elaine

US have just dropped 1% off interest rate, keep your eyes on exchange rates over the next few days we may be in for a better GB£ Aud$ rate.

ralphwiggam

Can anyone tell me where one puts there newly exchanged currency? Do you need a special account or will any normal high street bank do. Not sure if they will hold AU$ in my bank.

stephen elaine

Hi Ralph
I would not put any foreign currency into your normal bank account they will charge you for the pleasure,you have a few option as I understand it
Option 1 Open Oz account from the UK deposit your funds in Oz, but you are required to go to Oz to activate your account in order to within draw funds,( photo id required passport/drivers licence).
Option 2 Open a UK foreign currency account here in the Uk until you are ready to move funds.
Your best bet would be to speak to your Bank/Broker and get some financial advice.Hope this helps

lilsweets

Another option is to accept the foreign currency in the form of a draft which you can deposit when you get to Oz.

chilliman

Well no 2.65 this week, lets see what happens next week!?

Can't seem to stop watching the rates! Very distracting!!

stephen elaine

Chillman I am in the am boat as you waiting for the dollar to hit $2.65 I still hope think it will hit $2.65 £2.70 before Christmas fingers crossed.

brendan_brissy

im in the same boat too, but my galss is always half empty, can help thinking i should have exchanged last week, but hey lets keep everything crossed

chilliman

good to hear I'm not the only one! I've got a limit order in at 2.70, won't need the money until maybe June next year so can play a waiting game....

... Like you guys I'm wondering hmmm did I miss the boat, watching & waiting fingers, toes, everyting I can cross is crossed. 0.75% interest rate drop on Tuesday, lets hope!???

brendan_brissy

one thing i can say is that over the last few weeks the dollar weakens as the week goes on, friday being the best day.

stephen elaine

Have already traded at $2.53 at the last peak,which I thought was pretty good?

chilliman

TBH I'll be happy with anything above 2.45, but anymore will make a HUGE difference. Got to plan on being out of work for a while when I get out there in Feb so any additional $AUD will be more than useful!!

stephen elaine

Good luck to you chillman will let you know when I get $2.65

Australia_bound?

Any idea how long the draft would be valid for?

chilliman

Thanks lets hope both our orders get fulfilled!?

Now wheres gavbro with his latest update!?