Steveclare

As many of you may have noticed the exchange rate has risen. I purchased AUS dollars late last week with HiFX, who encouraged me to buy there and then as it was dropping as we spoke, in sheer panick that I would lose money I bought. But of course today it is far higher.

Just be aware that these companies will egg you on to buy as soon as they speak to you.

As you can see I am seriously p----- off

Clare

Beppe

There will always be a better rate (or worse rate) than the one you exchanged at.
The best thing to do is forget about it once you have made the exchange and not dwell on the “if only I waited”.

Unless you have to have your money in Oz at a certain time, then I’d identify a mid-trend rate that suits your needs and wait for that rate to come around. Currencies will always fluctuate.

I agree, though, take the advice of those who benefit from your exchange with a pinch of salt.

Red_V_Roger

I think its just the luck/unluck of the draw. If it had continued to drop, I guess they would have lost out..and would you have been so bothered about their 'loss'...?

Steveclare

I know you are right, and no I would not be concerned about their loss. But on the other hand these are our life savings.

BristolBeary

I'm sorry you lost out in your exchange. I wouldn't knock HiFx though. They were really good for me and when I changed currency it nose dived for the following month so they got it right for me.

Its pure luck though - if currency markets were that easy to read we'd be doing that for a job instead.

Fingers crossed your luck picks up from here.

cheekivimto07

We exchanged some money with them last week, i asked to be locked in at a certain rate and they rang me when it reached that rate, luckily i bought as the day later it dropped,, its swings and roundabouts with exchanging money and like other people have said once you have bought dont look back..

Steveclare

I know you are all right, and I have now calmed down. Now looking forward to our new life in OZ.

sj oldfield

As they say, 'some you win some you lose'!! No-one knows what the exchange rate will do, in particular with the volatile market at the moment!

Reading fan

It is funny though , Moneycorp and HiFx, are my new best friends,ringing me etc ! Oh what to do - gamble or exchange !!!!!! weeks ago we would have bitten their hands off at $2.20 now who knows ? Now BE is not the first website I look at in the morning !

spartacus

Nailed on fact.