Australian Dollar - exchange rate?!
#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
Looks like we'll be leaving our pensions in the UK now though
#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.
#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
#80
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
#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!
#83
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
#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.
#85
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)
#87
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.
#88
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.
#89
BE Enthusiast
Joined: Jan 2007
Location: Perth, WA
Posts: 365
Re: Australian Dollar - exchange rate?!
Cooo...$2.36 at 05.39 BST today.
Haven't seen that for a while !!
(December last year for those that want to know!)
Haven't seen that for a while !!
(December last year for those that want to know!)
#90
BE Enthusiast
Joined: Jan 2007
Location: Perth, WA
Posts: 365
Re: Australian Dollar - exchange rate?!
AU$ has lost 3% against £ overnight. £ has lost 2% against the yen in the same period.
Wish I'd bought yen on Friday !!!