Exchange Rate
Jun 8th 2007, 7:26 pm
#16
BE Forum Addict
Joined: Jan 2007
Posts: 3,991
Re: Exchange Rate
Does anyone have any idea if the exchange rate is due to turn. We have been watching it tumble recently to todays update of 2.3480 to 2.3580 with hifx.
I know we cant predict it, but is this 'normal' for this time of year or something??? This is unbelievable how its dropping sooo much. Just wondering if we can planish when to move some money over.
I know we cant predict it, but is this 'normal' for this time of year or something??? This is unbelievable how its dropping sooo much. Just wondering if we can planish when to move some money over.
cant help just wanted to say HI - was lovely meeting you both
Jun 8th 2007, 7:58 pm
#17
BE Enthusiast
Joined: Dec 2005
Posts: 423
Re: Exchange Rate
The long term trend seems to be for a bullish Aussie dollar against both the euro and the pound although my bet is over the next couple of weeks a rally of both currencies against the dollar.
http://newsvote.bbc.co.uk/1/shared/f...elve_month.stm
http://newsvote.bbc.co.uk/1/shared/f...elve_month.stm
http://newsvote.bbc.co.uk/1/shared/f...elve_month.stm
http://newsvote.bbc.co.uk/1/shared/f...elve_month.stm
Jun 8th 2007, 9:41 pm
#18
Forum Regular
Joined: Jun 2006
Location: Albany WA
Posts: 157
Re: Exchange Rate
What sort of rates can you get with Ozforex. We are with them at the moment. All they seem to tell us is that we are on the best rate because of the amount we will be trading.
Any advice would be appreciated.
p.s we just bought a car and need to exchange. Thankfully we will only loose a few hundred quid but still it's not great.
J
Any advice would be appreciated.
p.s we just bought a car and need to exchange. Thankfully we will only loose a few hundred quid but still it's not great.
J
If you log in on Ozforex you can work out what margin you are getting. I think we are getting .005 off the interbank rate which means you can work out how much they are making out of it!! The lady I have been dealing with is very good.
Jun 8th 2007, 10:39 pm
#19
Lost in BE Cyberspace
Joined: Sep 2005
Location: Somewhere South... Not Telling YOU
Posts: 10,959
Re: Exchange Rate
we haven't sold yet, but will keep cash in high interest account here and wait for the rise when we do... in no rush to buy when we arrive
Jun 8th 2007, 11:56 pm
#20
Banned
Joined: Jun 2007
Location: Houston, TX. The Star
Posts: 26
Re: Exchange Rate
Does anyone have any idea if the exchange rate is due to turn. We have been watching it tumble recently to todays update of 2.3480 to 2.3580 with hifx.
I know we cant predict it, but is this 'normal' for this time of year or something??? This is unbelievable how its dropping sooo much. Just wondering if we can planish when to move some money over.
I know we cant predict it, but is this 'normal' for this time of year or something??? This is unbelievable how its dropping sooo much. Just wondering if we can planish when to move some money over.
Me and the missus have used them several times and would not hesitate in recommending ozforex.
They ring me 10 minutes after i made a transfer of a few grand to make sure it was all ok.
We have both done this a few times.
I changed aussie account numbers over the phone with the bank, then changed th recipient on ozforex website, they rang me up to check if this was true before the next transfer went through,
Top class service in my opinion.
your sons mates cant help you clear this up LOL
aj
Jun 14th 2007, 4:26 pm
#21
BE Forum Addict
Joined: Oct 2006
Location: Nowhere - I'm a travelling (wo)man!
Posts: 2,362
Re: Exchange Rate
Well, we finally did it! Had no choice but to transfer today or tomorrow and have been watching the exchange rate moving about all day long. Hubby said don't settle for anything less than 2.35 and I've been getting online quotes all day from Ozforex, starting at 2.3392, improving slightly until lunchtime then it dropped again then rose to a best of 2.349 (we are transferring enough to buy our flat). I was going to wimp out and settle for that cos it was doing my head in then I rang HiFX and they initially gave me a lower rate than Ozforex but I said I'd hold out for 2.35 and they caved in.
So the rate is poor compared with a few weeks ago (it was 2.43 when we exchanged contracts) but at least we got over a cent better than first thing this morning, which is a saving of more than £1,500.
So only a few more days and we'll be Australian property owners
Also I learned that it always seems to be worth haggling with the foreign exchange brokers when you are changing substantial sums.
So the rate is poor compared with a few weeks ago (it was 2.43 when we exchanged contracts) but at least we got over a cent better than first thing this morning, which is a saving of more than £1,500.
So only a few more days and we'll be Australian property owners
Also I learned that it always seems to be worth haggling with the foreign exchange brokers when you are changing substantial sums.
Jun 15th 2007, 11:46 am
#22
Forum Regular
Joined: Jun 2006
Location: Albany WA
Posts: 157
Re: Exchange Rate
Well, we finally did it! Had no choice but to transfer today or tomorrow and have been watching the exchange rate moving about all day long. Hubby said don't settle for anything less than 2.35 and I've been getting online quotes all day from Ozforex, starting at 2.3392, improving slightly until lunchtime then it dropped again then rose to a best of 2.349 (we are transferring enough to buy our flat). I was going to wimp out and settle for that cos it was doing my head in then I rang HiFX and they initially gave me a lower rate than Ozforex but I said I'd hold out for 2.35 and they caved in.
So the rate is poor compared with a few weeks ago (it was 2.43 when we exchanged contracts) but at least we got over a cent better than first thing this morning, which is a saving of more than £1,500.
So only a few more days and we'll be Australian property owners
Also I learned that it always seems to be worth haggling with the foreign exchange brokers when you are changing substantial sums.
So the rate is poor compared with a few weeks ago (it was 2.43 when we exchanged contracts) but at least we got over a cent better than first thing this morning, which is a saving of more than £1,500.
So only a few more days and we'll be Australian property owners
Also I learned that it always seems to be worth haggling with the foreign exchange brokers when you are changing substantial sums.
I bet it's a huge relief! We are probably going to transfer today, we've been watching it for about 4 weeks and it's driving us mad. We've gone from having $7,000 spare to being $5000 short and now we are about $1000 short which is ok. It's very stressful and I'm looking forward to not waking up tomorrow thinking about what the rate has done over night! Enjoy your new home, we move on 27th...it's exciting isn't it!
Jun 15th 2007, 12:07 pm
#23
BE Forum Addict
Thread Starter
Joined: Feb 2005
Location: Mountain Creek,Sunshine Coast
Posts: 3,596
Re: Exchange Rate
Hi
I bet it's a huge relief! We are probably going to transfer today, we've been watching it for about 4 weeks and it's driving us mad. We've gone from having $7,000 spare to being $5000 short and now we are about $1000 short which is ok. It's very stressful and I'm looking forward to not waking up tomorrow thinking about what the rate has done over night! Enjoy your new home, we move on 27th...it's exciting isn't it!
I bet it's a huge relief! We are probably going to transfer today, we've been watching it for about 4 weeks and it's driving us mad. We've gone from having $7,000 spare to being $5000 short and now we are about $1000 short which is ok. It's very stressful and I'm looking forward to not waking up tomorrow thinking about what the rate has done over night! Enjoy your new home, we move on 27th...it's exciting isn't it!
