GULP -The Exchange Rate is sooo poor!
Feb 10th 2005, 10:49 pm
#1
I never gave up trying
Thread Starter
Joined: Nov 2003
Location: Belair, S.A.
Posts: 86
GULP -The Exchange Rate is sooo poor!
I'm due to leave on the 24th Feb and can see that the exchange rate is way down!
I took the chance of buying last minute, but at that rate I will buy very little. I have family to look after me, so money is not needed immediatley.
But I was hoping on some advice on the follwoing idea - I have my dosh in an ING account, but could move it to my current natwest account(my dad has joint access) and then get him to buy the currency at a better rate and transfer the money to my Commonwealth Bank of Oz.
Anybody else done this kind of thing?
I took the chance of buying last minute, but at that rate I will buy very little. I have family to look after me, so money is not needed immediatley.
But I was hoping on some advice on the follwoing idea - I have my dosh in an ING account, but could move it to my current natwest account(my dad has joint access) and then get him to buy the currency at a better rate and transfer the money to my Commonwealth Bank of Oz.
Anybody else done this kind of thing?
Feb 10th 2005, 10:53 pm
#2
Karma earned, not whored
Joined: Apr 2004
Location: Perth
Posts: 1,001
Re: GULP -The Exchange Rate is sooo poor!
Originally Posted by gunnercaz
I'm due to leave on the 24th Feb and can see that the exchange rate is way down!
I took the chance of buying last minute, but at that rate I will buy very little. I have family to look after me, so money is not needed immediatley.
But I was hoping on some advice on the follwoing idea - I have my dosh in an ING account, but could move it to my current natwest account(my dad has joint access) and then get him to buy the currency at a better rate and transfer the money to my Commonwealth Bank of Oz.
Anybody else done this kind of thing?
I took the chance of buying last minute, but at that rate I will buy very little. I have family to look after me, so money is not needed immediatley.
But I was hoping on some advice on the follwoing idea - I have my dosh in an ING account, but could move it to my current natwest account(my dad has joint access) and then get him to buy the currency at a better rate and transfer the money to my Commonwealth Bank of Oz.
Anybody else done this kind of thing?
Feb 11th 2005, 6:07 am
#3
Loving it in Bundy
Joined: Sep 2003
Location: Bundaberg, Australia
Posts: 1,775
Re: GULP -The Exchange Rate is sooo poor!
Originally Posted by gunnercaz
I'm due to leave on the 24th Feb and can see that the exchange rate is way down!
I took the chance of buying last minute, but at that rate I will buy very little. I have family to look after me, so money is not needed immediatley.
But I was hoping on some advice on the follwoing idea - I have my dosh in an ING account, but could move it to my current natwest account(my dad has joint access) and then get him to buy the currency at a better rate and transfer the money to my Commonwealth Bank of Oz.
Anybody else done this kind of thing?
I took the chance of buying last minute, but at that rate I will buy very little. I have family to look after me, so money is not needed immediatley.
But I was hoping on some advice on the follwoing idea - I have my dosh in an ING account, but could move it to my current natwest account(my dad has joint access) and then get him to buy the currency at a better rate and transfer the money to my Commonwealth Bank of Oz.
Anybody else done this kind of thing?
We bought for our bond yesterday through HIFX. Still a poor rate of 2.376 but when you compare this to the 2.28 the bank was offering it was good. Hopefully we will make some of it back if interest rates hold. Yesterday QLD was offering 5.3 on bond, so fingers crossed it hold until our money (today) hits their bank account. Good luck
Sarah
Feb 11th 2005, 8:32 am
#4
ah-beng
Joined: Aug 2004
Location: ^.^
Posts: 3,113
Re: GULP -The Exchange Rate is sooo poor!
This currency has got to be one of the most volatile around, On Monday when we bought our bond from HIFX we got 2.41 ... compare that Percentage swing to the US$ or UK£ or Euro and its massive for a 2 day period.
Feb 11th 2005, 9:05 am
#5
Forum Regular
Joined: Aug 2004
Posts: 167
Re: GULP -The Exchange Rate is sooo poor!
Originally Posted by spalen
This currency has got to be one of the most volatile around, On Monday when we bought our bond from HIFX we got 2.41 ... compare that Percentage swing to the US$ or UK£ or Euro and its massive for a 2 day period.
Checkout this from bloomberg.com
http://www.bloomberg.com/apps/news?p...efer=australia
Looks like a rocky road for the next few months - hold on to your hats!
If you are gambling on the $AUD getting weaker against the pound it might pay off but you may have to wait for the $USD to get stronger (short term) or the Australian Reserve Bank to hold Interest Rates next month. (both not very likely in the current climate)
It does look like the $AUD is going to get stronger in the short term
and maybe correct sharply once its peaked out 
, but who knows!Cheers
Tincx
