Exchange Rates
#1
Exchange Rates
Due to the global situation what do you think will happen with the exchange rates. Will they improve so you get a better exchange?
#2
Forum Regular
Joined: Sep 2007
Location: Scotland
Posts: 62
Re: Exchange Rates
Dr fox predicts there is going to be a big increase in £vs$ happy times are back get ready to exchange
#4
Forum Regular
Joined: Sep 2007
Location: Scotland
Posts: 62
Re: Exchange Rates
more dollars to the pound oz cut interest rates thats why the increase
#7
Re: Exchange Rates
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.
#8
Re: Exchange Rates
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*
#13
Forum Regular
Joined: May 2007
Location: Perth
Posts: 82
Re: Exchange Rates
Hi All,
Interbank rate 2.2752 right now
Interbank rate 2.2752 right now
#14
Lost in BE Cyberspace
Joined: May 2006
Posts: 6,600
Re: Exchange Rates
http://img.thesun.co.uk/multimedia/a...op_384331a.jpg