Re: EXCHANGE RATE
 

The official inflation rate reported by the US and the UK seems remarkably low! considering all things.... Apparently allowing them to keep there interest rates down, to stem off a recession. Great :)!

It strikes me that the inflation rate in both countries must be running a lot higher then stated. If I could be so bold as to say that the official inflation rate in both countries is now..., well to put it bluntly bullshit!

So who would put there money into a low interest, high inflation, economy? No wonder both currencies are dropping in value.

At some point (after an election no doubt) this will need to be addresses. I suspect a rebalancing in the market will occur then.

Hold out to next autumn, and she'll be right again.

The election is over in OZ, so they can put the breaks on and sort out there inflationary issues. I guess everyone must have there money in OZ at the moment, wating ... wating ... wating...

Re: EXCHANGE RATE
 

well I hope things improve, after much dallying I will be finally heading out to Oz Feb next year. Luckily I exchanged some money when the rate was 2.43 so can hang on a while before doing the rest!

Fingers crossed for a bounce back!

Re: EXCHANGE RATE
 

Well, I heard it said that it won't stay like this for long... so hopefully it'll pick up before we have to transfer any real money...

In the meantime, we decided to invest here in some commercial property that it doesn't get any worse... there's definitely some mileage in leaving it in the best high interest accounts!

Nothing is without risk nowadays!

Ali x

Re: EXCHANGE RATE
 

[

Ali x[/QUOTE]


Time running out for us...no break above 2-20 barrier for lift off in the trend yet.

:(

Re: EXCHANGE RATE
 

I think the average is 2.42 at present its keeping and hovering
just over 2.10 realistically you would think with Aussie interest rates
a good tad higher than uk rates that it would be even lower If the
RBA start to cut ( KEEP FINGERS CROSSED) it should make up the
0.32 quite easily and if thay keep cutting i can see the 2.50 plus
When is 6k Question

Re: EXCHANGE RATE
 

Well looks like interest rates can't keep going too much lower in the UK although the market is betting on another cut this week!?

Just need the RBA to start cutting - with my timeline of January to April next year fingers crossed it should have bounced by then?

I could always take a punt & convert the aussie dollars I got 2 years ago back to sterling then convert again - hmmmm ?

Re: EXCHANGE RATE
 

My 2c worth......

You wont see better than 2.20 max for a long time.

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Yep I think you are right, at this rate we can change all our money back, we can go home and we will have the same money we started with. Tempting...:unsure:

Re: EXCHANGE RATE
 

No, not tempting but I know what you mean. I;ve just extended tis years sabbatical to UK so I save more money!

Re: EXCHANGE RATE
 

Hello,

Is there any press speculation in Aus to indicate that the RBA will begin to lower interest rates?

fingers and toes crossed.

we are not over till Nov do only have six months to wait.

Re: EXCHANGE RATE
 

Hope the interest rate improves for you. It makes such a huge difference to your life when you get here.

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Not yet, but the odds are more on a drop than a rise. But its very close. Bit like this years Permiership.

Re: EXCHANGE RATE
 

hello everyone

we will hopefully be in the position to change some money soon, that is once we have sold the house:curse:
well, is there a time limit that you can keep money in a uk bank account, as obviously we would only want to exchange a bit at a time to begin with in order to survive. is there a way of keeping all my hard earned cash somewhere without being fleeced by bank charges and tax:confused:
thanks bec:)

Re: EXCHANGE RATE
 

Hi egghead,

I do not believe there is a time limit to keeping a uk bank account. You can have an overseas address, you need to let them know and they will sort the right rate of tax for you living off shore. The catch as I understand it is if you leave your money in uk and wait for exchange rate to rise then you are liable to pay CGT (capital gains tax) on any extra money earned on your exchange.

eg, £100,000 at $2-00 to the £ = $200,000
£100,000 at £2-50 to the £ = $250,000

therefore you are liable for CGT on $50,000

(please anyone correct me if that is wrong)

there has been threads on hear in the past but I couldnt find them on a search. I think there is a legal loophole that exempts you from this tax if the uk account is more then a certain(not sure what that is though)

Hope this helps:)

Re: EXCHANGE RATE
 

It depends on your visa. If you are on a TR visa like a 457 then you can leave the money in the UK with no tax implications.

Buzzy