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.

Re: Exchange Rate
 

have no idea, but yes your right it has dropped!:)

i have rung a few today and picked their brains and they have no crystal ball unfortunately......... waste of time that was:)

Re: Exchange Rate
 

Hi

It's freaking us out too. Yesterday seemed worse and it had us completely down as we've lost a bit of money over the past few days. Do you know what margin you are getting with hifx? We've changed to Ozforex and are getting a better margin. PM me if you want further info.

We have about a week left then we have to transfer it...very stressful!

Sandra

Re: Exchange Rate
 

Same here. Got a completion date for our purchase in Oz of 17 June. Do hope things improve before then.....

Re: Exchange Rate
 

OH spoke to one of the girls who does international dealing at his work last week and she told him then that it was going to slide further with not much chance of it coming back up again any time soon. Armed with that knowledge (and I posted it on here too), we transferred there and then with ozforex and got 2.406. At that point, Ozforex had a slightly better rate than Hifx.

I'm so glad we did. We'd have lost a lot of $s if we'd waited. If you can wait it out, I'd try to rather than go with the low rates currently on offer.

Re: Exchange Rate
 

Re: Exchange Rate
 

Spoke to a friend whose family all in Oz and she visits regularly. She says rate of 2.3 to the £ is 'normal' and when she holidays this is roughly what she always expects and anything more in a bonus:blink:

I woked my finances out on basis of 2.4-2.45-looks like a rethink may be in order-it all seems to be luck really:unsure:

Re: Exchange Rate
 

We changed to Ozforex as they are giving us a better margin than HIFX. Also, you can exchange it on-line yourself without having to ring up.

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

Re: Exchange Rate
 

It might be because the UK or Europe have recently increased the interest rates. Either way this could be good news for me. If it reaches 2 to 1 then I can go home and only be £50k down on the deal. Whoopeee! Now it's a race as to what comes first, the escape hole I'm digging or the exchange rate tumble....Bring it on....

Re: Exchange Rate
 

Good for you herchook.

Will have another look at ozforex. Had an issue with them not returning calls and information going missing so stopped dealing with them as felt if that was how things were going to progress there was no way we were going to trust them with our equity and savings!!

But if needs must will have a quick look and see what the score is.

Re: Exchange Rate
 

Gooden that mindblower. cheers

sandra - will give them a ring and see what the score is.

Re: Exchange Rate
 

we had a phone call from Ozforex today telling us we need to buy now as rate is going to drop more. We have not exchanged on our house so do not want to comit yet. Even when we have the next interest rate rise july / aug this is not going to make it go back up.

phillip.

Re: Exchange Rate
 

The person OH spoke to mentioned that the drought in Aus has had an impact on the rates too.:(

Re: Exchange Rate
 

Try this economic report, page 26.

http://www.anz.com/Business/info_cen...y/AEOJun07.pdf

ANZ bank believe the AUD will weaken against the GBP in 2008, but who knows? Last year they predicted we would be up at $2.55 by now. It just depends on the relative strengths of the economy and the attractiveness of the curreny to investors.

Cheers,

Marcus.