Exchange Rate

Old Aug 29th 2007, 8:30 am
  #151  
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Default Re: Exchange Rate

Shame on london market open it lost a cent ;( London ftse 100 openned on a drop, but is recovering. It'll all depend on what happens in the US for the tomorrow
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Old Aug 29th 2007, 9:12 am
  #152  
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Default Re: Exchange Rate

Originally Posted by Amazulu
Wall street down heavily, ASX has followed which is weighing on the AUD.
If Wall Street continues to struggle AUD should go weaker.
If US Fed. cuts interest rates to stave off recession then AUD should get stronger.
Ozforex reckon the short term trend for the AUD is weaker.
maybe there is more in the making?
http://www.prisonplanet.com/articles...rket_crash.htm
http://mparent7777-2.blogspot.com/20...n-4-weeks.html

who knows, maybe things look quite a bit different in a month?
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Old Aug 29th 2007, 11:46 am
  #153  
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Default Re: Exchange Rate

Originally Posted by Evelin
maybe there is more in the making?
http://www.prisonplanet.com/articles...rket_crash.htm
http://mparent7777-2.blogspot.com/20...n-4-weeks.html

who knows, maybe things look quite a bit different in a month?
aussie dollar weakens = more $$$ to the pound???? right?!
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Old Aug 29th 2007, 1:01 pm
  #154  
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Default Re: Exchange Rate

Thats right,
I do some work with a guy in transfermate.com, they handle these to aus and nz all the time. You can give them a target and ask them to buy at that rate or they also offer better spot rates than the banks
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Old Aug 29th 2007, 7:54 pm
  #155  
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Default Re: Exchange Rate

That's a really good question and something I'd like to hear an opinion on.
Originally Posted by nicolamilne
hey! been reading through this thread - was wondering if someone can advise what we should do with our money...

we are going to Perth on a years working holiday visa, we have about £3000 to take with us, should we transfer it through transferz /hifx etc, or jsut take travellers cheques and depsit into a bank account when we get there?
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Old Aug 30th 2007, 2:06 pm
  #156  
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Default Re: Exchange Rate

Travellers cheques will absolutely be the worst way to do it seeing as they are the most expensive way of sending money overseas.

get onto transfermate
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Old Aug 30th 2007, 4:31 pm
  #157  
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Question Re: Exchange Rate

Now here is a funny thing... I'm with OzForex, after lots of reading, comparing, and asking of questions. They pipped the post with HiFx because they offer online deals. Now ive just done a quote and they are offering A$245,710 for £100k. XETrade are offering A$246,683!! Nearly A$900 more... (I checked both sides of doing the OzForex quote).

Just gonna stick another Roo steak on the barby and suck some more green-can while i ponder over this one. Why has no-one mentioned XETrade while i've been looking around? I was pretty stoked about OzForex but now i'm thinking of joining XETrade as well and comparing the two when i ask for quotes. Anyone any experience with XETrade?

Future Canberra Yogi

Last edited by walkermat; Aug 30th 2007 at 4:33 pm. Reason: spelling
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Old Aug 30th 2007, 5:22 pm
  #158  
 
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Default Re: Exchange Rate

Originally Posted by walkermat
Now here is a funny thing... I'm with OzForex, after lots of reading, comparing, and asking of questions. They pipped the post with HiFx because they offer online deals. Now ive just done a quote and they are offering A$245,710 for £100k. XETrade are offering A$246,683!! Nearly A$900 more... (I checked both sides of doing the OzForex quote).

Just gonna stick another Roo steak on the barby and suck some more green-can while i ponder over this one. Why has no-one mentioned XETrade while i've been looking around? I was pretty stoked about OzForex but now i'm thinking of joining XETrade as well and comparing the two when i ask for quotes. Anyone any experience with XETrade?

Future Canberra Yogi
Info on this thread about XETRADE.COM

http://britishexpats.com/forum/showthread.php?t=149241
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Old Sep 17th 2007, 7:00 am
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Default Re: Exchange Rate

Oh No..... We've been waiting for the cheque to clear on our house sale and now its cleared the rate has dropped to 2.38 !!! Its just typical, when we paid the cheque into our bank the rate was 2.46 !

Does anyone have any idea if its likely to work its way back up again?

Thanks
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Old Sep 17th 2007, 7:12 am
  #160  
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Default Re: Exchange Rate

Originally Posted by chugo101
Oh No..... We've been waiting for the cheque to clear on our house sale and now its cleared the rate has dropped to 2.38 !!! Its just typical, when we paid the cheque into our bank the rate was 2.46 !

Does anyone have any idea if its likely to work its way back up again?

Thanks
exactly what happened to us luckily we aren't going til Jan so should go up again in the meantime. Market seems so uncertain at the moment that there's no way of knowing what will happen when really.

Have you got some time to play with? or if not can you just transfer a minimal 'survival' amount for time being?

Think we need to resurrect the "it's going up, up, up thread"!
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Old Sep 17th 2007, 7:20 am
  #161  
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Default Re: Exchange Rate

We're not in a major hurry to get it over, we've bought land and we don't settle until Feb but I opened a 6% interest account over in oz to make the most of the interest in the meantime; looks like I'll have to transfer it into a savings account in the uk and wait it out til the rate goes up again. We fly back over on Friday so really wanted it all sorted before then, oh well I suppose I ought to chill out like the australians do and see what happens!! Fingers crossed it goes up again real quick!

Up, Up, Up,.......... come on lets get that rate back up!!!
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Old Sep 17th 2007, 7:39 am
  #162  
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Default Re: Exchange Rate

We are gonna want to transfer £150K, 3 weeks ago we could have got $370k. Now its only $354k!!! (Damn the house buyer who has strung it all out!!)

We are going to put the money into a high interest account in the UK and wait n hope. The A$ may get stronger and the £ drop more or vice versa, it is a complete gamble and no-one can tell with certainty what will happen.
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Old Sep 17th 2007, 8:00 am
  #163  
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Default Re: Exchange Rate

Still a lot of uncertainty in the market. If US Fed. drops interest rates as they are expected to do to try and stave off recession, expect the AUD to get stronger. If stock markets remain volatile expect AUD to get weaker.
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Old Sep 17th 2007, 9:18 am
  #164  
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Default Re: Exchange Rate

I hope you've done it already I got quoted 2.3765 this morning! its come down abit! lol!

Poxy exchange rates!!!
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Old Sep 17th 2007, 10:12 am
  #165  
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Default Re: Exchange Rate

I know this may sound like a silly question but all this business with the Northern Rock and the Bank of England/borrowing etc will that affect the rate anytime in the near future? I know probably need a crystal ball - I am better at delivering babies than finances though - honest

Lindsey
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