Exchange rates

Old Oct 8th 2007, 9:42 am
  #1  
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Default Exchange rates

Hi All

Today the Exchange rate of the UK Pound to the Aussie Dollar hit a new 23 year low. You now only get 2.26 AU$ to the Pound. 6 weeks ago it was 2.52AU$ to the Pound.

That means that if you were changing £100,000 this swing would cost you give you approximately AU$26,000 less than six week ago.

OW - THAT IS A SORE ONE!!!!!!

I know these things go up and down all the time but Does anyone know what the forecast is and whether the situation is likely to worsen or improve?

Andy
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Old Oct 8th 2007, 9:45 am
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Default Re: Exchange rates

Originally Posted by biggles7374 View Post
Hi All

Today the Exchange rate of the UK Pound to the Aussie Dollar hit a new 23 year low. You now only get 2.26 AU$ to the Pound. 6 weeks ago it was 2.52AU$ to the Pound.

That means that if you were changing £100,000 this swing would cost you give you approximately AU$26,000 less than six week ago.

OW - THAT IS A SORE ONE!!!!!!

I know these things go up and down all the time but Does anyone know what the forecast is and whether the situation is likely to worsen or improve?

Andy
have a look on oxforex biggles - they sometimes quote what they think the rate will be if you were to buy in advance

Trish
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Old Oct 8th 2007, 10:31 am
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Default Re: Exchange rates

I know tell me about it i had the option to buy 6 weeks ago and didnt. Im now kicking myself with a big pair of steel toe boots
I have 5 weeks before we go so hoping it will go back up and not down
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Old Oct 8th 2007, 10:40 am
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Default Re: Exchange rates

Originally Posted by nessyp View Post
I know tell me about it i had the option to buy 6 weeks ago and didnt. Im now kicking myself with a big pair of steel toe boots
I have 5 weeks before we go so hoping it will go back up and not down
sites i've looked at reckon it might drop to 2.14 v quickly now it's reached the level it's at! this comboined with gloomy 2008 uk economic forecast doesn't bode well...
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