EXCHANGE NOW OR WAIT?
Sep 7th 2007, 10:05 am
#1
South Yarra Sheila
Thread Starter
Joined: Apr 2007
Posts: 1,078
EXCHANGE NOW OR WAIT?
Ignoring the massive hike of 2 weeks ago is 2.44 generally considered to be a good rate of exchange? I have money from house sale sat in my natwest account & as we are not going until January I don't know whether I should transfer at current rate or watch the market and hope for better. My Aunt in Oz seems to think it's pretty good...
Any comments welcome
Any comments welcome
Sep 7th 2007, 10:18 am
#2
DownUnder
Joined: May 2003
Location: Thorneside, Brissy
Posts: 1,709
Re: EXCHANGE NOW OR WAIT?
There is no way to know. FX is very much the rate that you are happy with as there will always be winners and losers. 2.5 is the average rate over time, but the current rate is pretty average for this year.
Depending on how much cash you've got, you could do it in smaller chunks so averaging out your gains and loses.
There is no reason to move the money until you actually need it in oz anyway.
Depending on how much cash you've got, you could do it in smaller chunks so averaging out your gains and loses.
There is no reason to move the money until you actually need it in oz anyway.
Sep 7th 2007, 10:43 am
#3
Forum Regular
Joined: Jan 2007
Posts: 136
Re: EXCHANGE NOW OR WAIT?
I exchanged mine yesterday and feel that it is now the right time to do it. You have to set yourself a target that you would like to reach and then go for it. You can hang on and hope for a better rate but I dont think it will go much higher but do feel that it could drop back down to the mid 2.3's.
Its totally upto you and it is all a bit of a gamble. If I knew what it was going to do, i would be a very rich man!!
good luck and hope it goes well
martin
Its totally upto you and it is all a bit of a gamble. If I knew what it was going to do, i would be a very rich man!!
good luck and hope it goes well
martin
Sep 7th 2007, 11:43 am
#4
South Yarra Sheila
Thread Starter
Joined: Apr 2007
Posts: 1,078
Re: EXCHANGE NOW OR WAIT?
Pretty much what I think but OH has been looking at BBC market data chart for last 12 months & left wondering if it could whizz up a bit again as it did end last yr to start of this. Oh well at least I have someone to blame if it drops back down
Sep 10th 2007, 1:36 am
#5
DownUnder
Joined: May 2003
Location: Thorneside, Brissy
Posts: 1,709
Re: EXCHANGE NOW OR WAIT?
up 2.5c this morning to 2.48 .. fingers crossed for 2.5
Sep 10th 2007, 2:04 am
#6
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: EXCHANGE NOW OR WAIT?
I think the AUD will be dropping in the short-term. ASX is down a lot today causing the AUD to fall. Wall Street is still volatile and this will weigh on the AUD. I'm hanging off exchanging at the moment and keeping an eye on the market.
Sep 10th 2007, 2:28 am
#7
BE Forum Addict
Joined: Sep 2006
Location: 'stralia
Posts: 2,383
Re: EXCHANGE NOW OR WAIT?
If you have months to play with, set one of those orders up where you tell them to exchange as soon as it hits a certain rate (e.g. 2.5). I think it may be called a limit order. That way you can stop worrying about it and let it take care of itself!
