Due to the global situation what do you think will happen with the exchange rates. Will they improve so you get a better exchange?

Dr fox predicts there is going to be a big increase in £vs$ happy times are back get ready to exchange

as in more AUD for your GBP? Notice it's moved towards 2.2 today... No idea why this would be!

more dollars to the pound oz cut interest rates thats why the increase

Who is Dr Fox

Hi Can I transfer money before I get a visa? as I am waiting for aCo at the mo and expect to get one before Christmas.... this Christmas!
Welsh Jeff

Jeff I wouldn't , but you can.

The reason is that once your money is in an Australian account it may be harder to transfer it back to the UK if you need to.

If your purpose is to secure a better exchange rate, you can set up what is called a forward contract, where a rate is agree dnow and matures at a certain date where you have to exchange or pass over your money, this allows you to secure a rate today but only transfer the money when your ready.

The only thing to be wary of is the date you expect the contract to mature, will it be in line with your expected move to Australia date ? Somehting only you can answer.

Anyway hope this helps.

Small consolation if your bank is majorly exposed to derivatives. e.g.

Me to OzForex: I want to sell Sterling.

OzForex: Excellent, there's a great rate right now. Here's the Account number to send the funds to. Let us know the Account you want us to send the Aussie dollars to.

Me to Bank: I want to send money to this OxForex account.

Bank: What money?

*Gulp*

Rate is $2.24 this morning - the best it's been in a long time.

Now A$2.25

A$ is getting sold off, it usually does in times of crisis.

....make that $2.26!

Do you think it will reach $2.50 before xmas

Hi All,

Interbank rate 2.2752 right now

I can see a tall man with a pocket watch . . . and the number three will be important . . .

http://img.thesun.co.uk/multimedia/a...op_384331a.jpg

I got 2.52.....







2 years ago.