Re: Australian Dollar - exchange rate?!
Hey I started with using a comparison site called Currency Finder.co.uk
It then put me in touch with another company called Excel Currencies. I have being using them for the last few months as I have being sending between 5k to 20k on a monthly basis. Since the very first trade I did with them they have given the best rates. I had opened accounts with HiFX and Money Corp and I had a friend who was checking with a couple of company's he was using and Excel still gave the best. I just did a trade today and i got 2.0680 with 12k with No transfer fee's or commission. Checked with the above and they were the best by far. I also heard that the AUS Dollar is set to drop over the net few years that why I changing as little as I have to. Good luck..... |
Re: Australian Dollar - exchange rate?!
The truth is nobody knows for sure which way it will go - do not believe 'experts' they dont use their own money when making predictions!
|
Re: Australian Dollar - exchange rate?!
Originally Posted by Iando
(Post 6555623)
The truth is nobody knows for sure which way it will go - do not believe 'experts' they dont use their own money when making predictions!
Dollar climbs to new 25-year high http://business.theage.com.au/dollar...0712-3dxd.html |
Re: Australian Dollar - exchange rate?!
Originally Posted by NikiL
(Post 5961731)
Luke's an accountant who sat the same exams as me, hence my reply!
Its driven a lot by interest rates, so IMHO pretty unlikely to improve any time soon unless the markets have a big upset unrelated to rates. The major factor is current account deficits. The UK has a deficit 4x that of Australia, and the gap is getting wider. I would expect the £1 to fetch $1.70 in 1 year. |
Re: Australian Dollar - exchange rate?!
Originally Posted by Pommie Granite
(Post 6562550)
Actually, interest rates are just one factor.
The major factor is current account deficits. The UK has a deficit 4x that of Australia, and the gap is getting wider. I would expect the £1 to fetch $1.70 in 1 year. I am inclined to agree with you about the rate dropping further, but I don't think it will get that far personally. $1.90 max (unless the BoE start getting their bollocks back and raising interest rates), and around $2.00 in about three months time. |
Re: Australian Dollar - exchange rate?!
Originally Posted by Nice Guy
(Post 6425132)
Thanks for the clarity, I thought the rate you were referring to was on the day of your post not the rate some 8 months ago when indeed it was Au$2.50 to GBP1.
I also think mr mover thought that as well. As far as the rest of your post is concerned not everything, least of all currency appreciation and depreciation is cyclical. |
Re: Australian Dollar - exchange rate?!
Hi all,
I may have been a little quick but not by much. Take a read at this artical http://www.bloomberg.com/apps/news?p...Ycs&refer=home |
Re: Australian Dollar - exchange rate?!
Take a look at this link.
bloomberg.com/apps/news?pid=20601087&sid=alHVSq2PIYcs&refer=home The Aussie could be ready to crash |
Re: Australian Dollar - exchange rate?!
Sorry to all those sceptics but I did tell you all.
Hope some listened and changed their money, if not do it now, the dollar is going to crash big time. |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6637292)
Sorry to all those sceptics but I did tell you all.
Hope some listened and changed their money, if not do it now, the dollar is going to crash big time. |
Re: Australian Dollar - exchange rate?!
I Think the RBA And the Government were hit with there pants down
so to speak ,On one hand just as thay were doing the right thing slowing the economy down so it never boild over ,and at the same time the dollar was up there with the big guys ,as thay boasted daily that the australian dollar was nearly 90c US then 95 and so on and all was well . And then came along the big bad credit crunch that the rest of the globe had anticipated 12 months earlier ,and in true australian style the poo hits the fan all at once the idiots couldn't arrange a piss up in a brewery Now Rudd is saying he aint ruling a ressesion out??? RICHES TO RAGS OR CHINA AND COAL TO FULL ON RECESSION all in one month ?:unsure::unsure: |
Re: Australian Dollar - exchange rate?!
Originally Posted by Hotton
(Post 6637538)
I Think the RBA And the Government were hit with there pants down
so to speak ,On one hand just as thay were doing the right thing slowing the economy down so it never boild over ,and at the same time the dollar was up there with the big guys ,as thay boasted daily that the australian dollar was nearly 90c US then 95 and so on and all was well . And then came along the big bad credit crunch that the rest of the globe had anticipated 12 months earlier ,and in true australian style the poo hits the fan all at once the idiots couldn't arrange a piss up in a brewery Now Rudd is saying he aint ruling a ressesion out??? RICHES TO RAGS OR CHINA AND COAL TO FULL ON RECESSION all in one month ?:unsure::unsure: |
Re: Australian Dollar - exchange rate?!
I have about GBP 200k to exchange, though am not convinced I will stay in Oz forever
Is there anyway of hedging it so I am not at risk should I come back to the UK in a year or so? |
Re: Australian Dollar - exchange rate?!
Originally Posted by Hotton
(Post 6637538)
I Think the RBA And the Government were hit with there pants down
so to speak ,On one hand just as thay were doing the right thing slowing the economy down so it never boild over ,and at the same time the dollar was up there with the big guys ,as thay boasted daily that the australian dollar was nearly 90c US then 95 and so on and all was well . And then came along the big bad credit crunch that the rest of the globe had anticipated 12 months earlier ,and in true australian style the poo hits the fan all at once the idiots couldn't arrange a piss up in a brewery Now Rudd is saying he aint ruling a ressesion out??? RICHES TO RAGS OR CHINA AND COAL TO FULL ON RECESSION all in one month ?:unsure::unsure: |
Re: Australian Dollar - exchange rate?!
Originally Posted by virginiec
(Post 6637840)
I have about GBP 200k to exchange, though am not convinced I will stay in Oz forever
Is there anyway of hedging it so I am not at risk should I come back to the UK in a year or so? Don't change it all? |
Re: Australian Dollar - exchange rate?!
Originally Posted by virginiec
(Post 6637840)
I have about GBP 200k to exchange, though am not convinced I will stay in Oz forever
Is there anyway of hedging it so I am not at risk should I come back to the UK in a year or so? different companies offer slightly diffeent packages cmc markets for example offer a FX account using spread betting where buy you can buy or sell gbp /aud or others the main reason to use a spead betting account in the uk is no tax on any profits James |
Re: Australian Dollar - exchange rate?!
Originally Posted by leave_n_on_a_Jet
(Post 6638488)
very simple to hedge
different companies offer slightly diffeent packages cmc markets for example offer a FX account using spread betting where buy you can buy or sell gbp /aud or others the main reason to use a spead betting account in the uk is no tax on any profits James Let's say that I transfer 200k GBP at $2.10, getting me AUD $420k. Do I then enter into a hedge at 2.10 to exchnage back to GBP in one years time If I decide to stay can i let the hedge lapse? or if I come back earlier what happens. I just want to mitigate any downside risk |
Re: Australian Dollar - exchange rate?!
A hedge is the same thing as a forwards contract, right? AFAIK, once you sign a forwards contract, it's binding.
|
Re: Australian Dollar - exchange rate?!
Garyling,
I did not say change Aus dollars from pounds. please read back and you will see that I advised for people to change Aus dollars to ponds as the Aus dollar was going to crash. I changed £10000 and got $25000 in August last year, I made just over £2000 when I changed it back (when the pound dropped). I am now waiting for the Pound to pick up against the dollar (and my freind has said it will got to $2.45 by November) to change it back again. Easy money if you have the contacts. |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6640283)
Garyling,
I did not say change Aus dollars from pounds. please read back and you will see that I advised for people to change Aus dollars to ponds as the Aus dollar was going to crash. I changed £10000 and got $25000 in August last year, I made just over £2000 when I changed it back (when the pound dropped). I am now waiting for the Pound to pick up against the dollar (and my freind has said it will got to $2.45 by November) to change it back again. Easy money if you have the contacts. |
Re: Australian Dollar - exchange rate?!
Looking at the Forex forward rates on Ozforex.com there does appear to be future weakeness in the AUD.
However, a 2 year future of 2.18 AUD/GBP does not imply any major slide AUD interest rates will always be higher than their GBP counterpart (negative gearing etc doesn't help) |
Re: Australian Dollar - exchange rate?!
Neither, as I said before, it's what he does for a living.
And he has never let me down. |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6643976)
Neither, as I said before, it's what he does for a living.
And he has never let me down. the best time to buy Aussie dollars. cheers buddy There is a drink in it if you pop into the Bondi hotel Thanks hotton:D |
Re: Australian Dollar - exchange rate?!
Hotton,
I am in the UK so a little far for a drink. My mate has said the rate should be at $2.30 by mid to end of September. He is expecting it to gp to $2.45 by the end of the year. |
Re: Australian Dollar - exchange rate?!
We're due to fly out on the 22nd October and can't make our minds up whether to exchange now or hang on to see if the rate moves in our favour.
Having followed the rate for the last 2 weeks, i'm not sure if we should set up a contract to buy if it reaches a certain amount, buy now and never look at the rates again, or wait a few more months and hope to god it doesn't drop below 2.14. Not sure if my nerve can hold on until November Gavbro - does your mate still think the dollars gonna drop? |
Re: Australian Dollar - exchange rate?!
Mary,
I would hand on. I am also going soon (18th Sep). My friend has advised me to hang on as long as possible. I am sending what I need to survive for 1 month as my wife has a job to go to, then the rest is staying in the UK until the rate is good. If you read all the reports they say the Aussie will collaps, you need to wait for the pound to hold steady or get a little stonger when this happens. You can set up with most exchanges (like the one I mentioned earlier) to call you when the rate hits a certain point so you don't miss it. |
Re: Australian Dollar - exchange rate?!
Is this the upbeat sterling outlook to which you refer?
http://www.hifx.co.uk/marketwatch/ma...ort_13aug.aspx OzTennis :) |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6697179)
Mary,
I would hand on. I am also going soon (18th Sep). My friend has advised me to hang on as long as possible. I am sending what I need to survive for 1 month as my wife has a job to go to, then the rest is staying in the UK until the rate is good. If you read all the reports they say the Aussie will collaps, you need to wait for the pound to hold steady or get a little stonger when this happens. You can set up with most exchanges (like the one I mentioned earlier) to call you when the rate hits a certain point so you don't miss it. We're going on the 22nd October - no job as yet, so we need every penny (dollar!) we can get. We're thinking of holding it in a UK account and then transferring when my bottle goes. My OH's got someone from Hifx calling tomorrow, so i'll have him mention about setting something up so we don't miss out. Out of interest, what rate would you exchange at?
Originally Posted by OzTennis
(Post 6697661)
Is this the upbeat sterling outlook to which you refer?
http://www.hifx.co.uk/marketwatch/ma...ort_13aug.aspx OzTennis :) :eek: doesn't make good reading:( |
Re: Australian Dollar - exchange rate?!
OZtennis, that is what I am talking about.
The pound is falling against the America dollar, but the Aussie is falling quicker. Once the pound holds or picks up and the Aussie doesn't and their they are just starting with their problems like the housing market dropping (and as everyone knows when the housing market is strong the Australian economy is strong) they will be in trouble. Mary, I am looking for around £2.35. If I have to I will change at £2.30, but I will have to have run out of money before I do that. |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6699803)
OZtennis, that is what I am talking about.
The pound is falling against the America dollar, but the Aussie is falling quicker. Once the pound holds or picks up and the Aussie doesn't and their they are just starting with their problems like the housing market dropping (and as everyone knows when the housing market is strong the Australian economy is strong) they will be in trouble. Mary, I am looking for around £2.35. If I have to I will change at £2.30, but I will have to have run out of money before I do that. Thanks Gavbro, gives me an idea on what to aim for (bet i end up changing at 2.10:rofl:). I can see your reasoning, just hope it all happens (sorry Australia) when we're ready to go. |
Re: Australian Dollar - exchange rate?!
Mary,
I hope it happens to. I have worked out that with the money I have to change, at the bad rate of £2.05 that it was 3 weeks ago I would get £348,500, at £2.40 it would be $408,00. I can get a 2006 Mitsubishi outlander for $20,000. That certainly puts it in perspective, I could get 3 of them. At least the rate has picked up again today ($2.1521), all I hope is that the Aussie collapses, just for one day, a rate of $3.00 would be good but that’s not going to happen Are you going to Aus to live Mary, if so where. I'm going back to Melbourne after a 13 years stay in the UK. |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6700313)
Mary,
I hope it happens to. I have worked out that with the money I have to change, at the bad rate of £2.05 that it was 3 weeks ago I would get £348,500, at £2.40 it would be $408,00. I can get a 2006 Mitsubishi outlander for $20,000. That certainly puts it in perspective, I could get 3 of them. At least the rate has picked up again today ($2.1521), all I hope is that the Aussie collapses, just for one day, a rate of $3.00 would be good but that’s not going to happen Are you going to Aus to live Mary, if so where. I'm going back to Melbourne after a 13 years stay in the UK. We're off to Perth in October, getting scared now:eek: So many things to sort out and worry about:blink: It certainly puts it into perspective. I must admit, until a few weeks ago i hadn't even thought about the exchange rate, not so now!!! Do you know whether you can do a forward contract for $2.35 and then reduce it if it doesn't go up before you need to transfer it? |
Re: Australian Dollar - exchange rate?!
I don't know if you can but I bought it.
The good thing with these companies is, once you have agreed a price that is it. It does not matter what the rate does after that. Have you registered with anyone yet? If not you will need to before they will seal the deal. Then you can call them from Aus and do an electronic transfer from your UK bank account. You should be a UK resident to deal with these companies but how do they know you have emigrated. Anyway good luck with everything, and remember your first christmas will be strange, but at least you will not be cold. |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6700674)
I don't know if you can but I bought it.
The good thing with these companies is, once you have agreed a price that is it. It does not matter what the rate does after that. Have you registered with anyone yet? If not you will need to before they will seal the deal. Then you can call them from Aus and do an electronic transfer from your UK bank account. You should be a UK resident to deal with these companies but how do they know you have emigrated. Anyway good luck with everything, and remember your first christmas will be strange, but at least you will not be cold. Was thinking of using Hifx. Thank for the info Gavbro:thumbsup: |
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 |
Re: Australian Dollar - exchange rate?!
Originally Posted by gavbro
(Post 6834549)
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 Looks like we'll be leaving our pensions in the UK now though:( |
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.
|
Re: Australian Dollar - exchange rate?!
Originally Posted by mark2
(Post 6835435)
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.
|
Re: Australian Dollar - exchange rate?!
Originally Posted by mark2
(Post 6835435)
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.
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:blink: |
Re: Australian Dollar - exchange rate?!
Originally Posted by mary1967
(Post 6837138)
...just got to hope it doesn't go bust:blink:
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 |
All times are GMT. The time now is 10:01 pm. |
Powered by vBulletin: ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.