Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Feb 11th 2010, 1:03 pm
  #1111  
Devil's Advocate
 
Joined: Feb 2008
Location: Mandurah
Posts: 2,269
EvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond reputeEvannTel has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
I'm wondering if its realistic to try hedgeing against negative currency movements, the worry is actually that GBP/AUD could go quite a bit lower from here. Do any of the money changers offer a hedgeing service?
I think oanda.com do.
EvannTel is offline  
Old Feb 18th 2010, 11:29 pm
  #1112  
BE Enthusiast
 
Joined: Jun 2007
Location: The "Gong"
Posts: 433
Stu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of lightStu Ward is a glorious beacon of light
Default Re: 1.93's A$ to the Pound!!!

The pound has dropped 5c this week to $1.73

Stu
Stu Ward is offline  
Old Feb 18th 2010, 11:40 pm
  #1113  
BE Enthusiast
 
Joined: Sep 2008
Location: newbury
Posts: 943
eugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond reputeeugene43 has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Stu Ward
The pound has dropped 5c this week to $1.73

Stu
thanks but a bit late old news
eugene43 is offline  
Old Feb 18th 2010, 11:49 pm
  #1114  
Forum Regular
 
Joined: May 2009
Posts: 80
Cuppa10 has a brilliant futureCuppa10 has a brilliant futureCuppa10 has a brilliant futureCuppa10 has a brilliant futureCuppa10 has a brilliant futureCuppa10 has a brilliant future
Default Re: 1.93's A$ to the Pound!!!

Jesus, my 20 pounds birthday money doesnt go very far these days.

It used to be $50~ now it's 35~ after the fees and such, urgh.
Cuppa10 is offline  
Old Feb 18th 2010, 11:58 pm
  #1115  
Banned
 
Joined: Aug 2008
Posts: 22,348
paulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Cuppa10
Jesus, my 20 pounds birthday money doesnt go very far these days.

It used to be $50~ now it's 35~ after the fees and such, urgh.
It's even worse when you're thinking in thousands of pounds
paulry is offline  
Old Feb 19th 2010, 2:04 am
  #1116  
BE Forum Addict
 
koalakim's Avatar
 
Joined: Dec 2006
Location: Mt Martha, Melbourne
Posts: 1,199
koalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Yep, we've been hanging on to a bit in the hope the pound was on the rise again as it was around 3 weeks ago but now it's gone down and down.

I'm now thinking I might transfer it once (if) it gets back up to 1.80 again and just earn 5% on it here.

I've been pound watching since Oct and it's been doing this - 1.72-1.82 in roughly 3-4 week cycles. I think we'll be a long time waiting for any better than 1.82!

It's gone down because the UK Gov had to borrow more money in January - adding to the already huge deficit.
koalakim is offline  
Old Feb 19th 2010, 2:23 am
  #1117  
Banned
 
Joined: Aug 2008
Posts: 22,348
paulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
Yep, we've been hanging on to a bit in the hope the pound was on the rise again as it was around 3 weeks ago but now it's gone down and down.

I'm now thinking I might transfer it once (if) it gets back up to 1.80 again and just earn 5% on it here.

I've been pound watching since Oct and it's been doing this - 1.72-1.82 in roughly 3-4 week cycles. I think we'll be a long time waiting for any better than 1.82!

It's gone down because the UK Gov had to borrow more money in January - adding to the already huge deficit.
This is an additional challenge that no other UK to Aus migrants have encountered before. To be honest it's a huge stumbling block to our future there. We'll probably end up just sucking it up and making the best of things but having always been careful with money I find it very hard to accept "losing" $150k
paulry is offline  
Old Feb 19th 2010, 2:28 am
  #1118  
Lost in BE Cyberspace
 
Joined: Apr 2004
Posts: 10,375
jad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond reputejad n rich has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
This is an additional challenge that no other UK to Aus migrants have encountered before.
Aus to UK migrants/returnees have had it worse!! At times the aussie dollar has bought as little as 32 pence

Very Volatile currency.
jad n rich is offline  
Old Feb 19th 2010, 2:29 am
  #1119  
Fighting my corner
 
Vash the Stampede's Avatar
 
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Vash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond reputeVash the Stampede has a reputation beyond repute
Arrow Re: 1.93's A$ to the Pound!!!

The UK has enjoyed a powerful currency for generations. You had your fun. Now it's our turn.

Originally Posted by paulry
This is an additional challenge that no other UK to Aus migrants have encountered before. To be honest it's a huge stumbling block to our future there. We'll probably end up just sucking it up and making the best of things but having always been careful with money I find it very hard to accept "losing" $150k
Suck it up, buttercup. I lost thousands when I moved from Australia to the UK, thanks to the ruinous exchange rate at the time (2.4:1).
Vash the Stampede is offline  
Old Feb 19th 2010, 2:38 am
  #1120  
Banned
 
Joined: Aug 2008
Posts: 22,348
paulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by jad n rich
Aus to UK migrants/returnees have had it worse!! At times the aussie dollar has bought as little as 32 pence

Very Volatile currency.
Originally Posted by Vash the Stampede
The UK has enjoyed a powerful currency for generations. You had your fun. Now it's our turn.



Suck it up, buttercup. I lost thousands when I moved from Australia to the UK, thanks to the ruinous exchange rate at the time (2.4:1).
There doesnt seem to be a workable choice other than abandoning the move but we aren't going to do that.
paulry is offline  
Old Feb 19th 2010, 2:40 am
  #1121  
BE Forum Addict
 
koalakim's Avatar
 
Joined: Dec 2006
Location: Mt Martha, Melbourne
Posts: 1,199
koalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond reputekoalakim has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

I know how you feel Paulry...we've lost $100k on paper as well. Good old hindsight - if we hadn't of done the shall we, sharn't well sell thing with our UK place we'd have been okay. I think the problem was that we loved our flat and wanted to hang on to it if possible if only for an investment but in the end we couldn't do both.

The other thing we should have done was when we arrived it was 2.50 and we should have got our equity out and bought something small here to get us going but the thought of the huge mortgage in the UK put us off - especially as we didn't exactly have tenants lining up. Now looking back we should have done that as UK interest rates are rock bottom and we probably could have done it!

We try not to think about it too much as it just makes us wince at what should have been but at least we've now got a foot on the ladder and even with interest rates going up the mortgage will be the same as renting and at least we'll be paying our own place off.

Sometimes you just have to bite that bullet!
koalakim is offline  
Old Feb 19th 2010, 2:58 am
  #1122  
Suncream, I need suncream
 
northerner's Avatar
 
Joined: Jan 2006
Location: Sydney
Posts: 1,316
northerner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond reputenortherner has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Vash the Stampede
Suck it up, buttercup. I lost thousands when I moved from Australia to the UK, thanks to the ruinous exchange rate at the time (2.4:1).
I think that 2.4:1 is what the exchange rate averages when you look at historical data. In my head at least - 2.4:1 is what the exchange rate 'swings' around. It's just at the low point of the 'swing' at the moment - might take a couple of years for it to swing back though....

Graham

Last edited by northerner; Feb 19th 2010 at 3:03 am.
northerner is offline  
Old Feb 19th 2010, 3:06 am
  #1123  
Banned
 
Joined: Aug 2008
Posts: 22,348
paulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
I know how you feel Paulry...we've lost $100k on paper as well. Good old hindsight - if we hadn't of done the shall we, sharn't well sell thing with our UK place we'd have been okay. I think the problem was that we loved our flat and wanted to hang on to it if possible if only for an investment but in the end we couldn't do both.

The other thing we should have done was when we arrived it was 2.50 and we should have got our equity out and bought something small here to get us going but the thought of the huge mortgage in the UK put us off - especially as we didn't exactly have tenants lining up. Now looking back we should have done that as UK interest rates are rock bottom and we probably could have done it!

We try not to think about it too much as it just makes us wince at what should have been but at least we've now got a foot on the ladder and even with interest rates going up the mortgage will be the same as renting and at least we'll be paying our own place off.

Sometimes you just have to bite that bullet!
I don't see the rate dropping much further than it's recent low so maybe it's just a matter of transferring the minimum over until the situation improves. I hate the indecision and the "wing and a prayer" feeling. Yes, probably just biting the bullet will be the best solution.
paulry is offline  
Old Feb 19th 2010, 3:40 am
  #1124  
 
Centurion's Avatar
 
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Centurion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond reputeCenturion has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by northerner
I think that 2.4:1 is what the exchange rate averages when you look at historical data. In my head at least - 2.4:1 is what the exchange rate 'swings' around. It's just at the low point of the 'swing' at the moment - might take a couple of years for it to swing back though....

Graham
Honestly I'll bet never to see that rate happening in the next five years minimum, I'd say 10 but I wouldn't want to be the voice of doom .
Centurion is offline  
Old Feb 19th 2010, 4:28 am
  #1125  
Banned
 
Joined: Aug 2008
Posts: 22,348
paulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond reputepaulry has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Centurion
Honestly I'll bet never to see that rate happening in the next five years minimum, I'd say 10 but I wouldn't want to be the voice of doom .
Not even with a bit of help from the Falklands oil?
paulry is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell or Share My Personal Information -

Copyright © 2023 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.