The exchange rate is $2.21 to the pound and falling..it'll soon be below 2.2

Woe is me

Lee

i try not to watch it, that way when are ready to change our money we will just have to accept it at what it is, no looking back
Hope it doesnt get any worse though.

Yikes!

We went over in August and got 2.42, can’t believe it’s gone down that much.

T

I exchanged 2 amounts a few weeks back at 2.34 and 2.32 thank God. OH wanted to hold out for more but as I am now telling him-always listen to your woman!

no one likes a smart arse

lee

didnt feel like such a smart arse middle of 2007 when exchange rate went to 2.5 2 weeks before we had our house dosh and then plunged again

Sent some money home to UK this week and got 2.27 which I thought was good. Today it's 2.20! Could have gotten an extra £200 if I had waited 3 days (... or equally could have lost £200+ if it had gone the other way!) It's so unpredictable

Anyone tried the power of positive thinking. Last time we did it on here it went up to 2.5. Lets give it a go again then.

Repeat after me. ITS GOING UP, ITS GOING UP ITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UPITS GOING UP, ITS GOING UP

exchange always fluctuate I know but why is it so low?? Is it because its oz's summer???

When you holiday in June & July all the exchange rate seems crap ie the us $ and the euro, so ill it go back up ????

Dont anyone reply calling me think I know what i'm on about

Ozforex is quoting 2.1978 today. Can it go any lower? Just wish I had some more $ to convert...

It's like that because of the recent crisis in the USA (apparantly).

I'm sure this has been asked before, but just how savvy are "they" about currency trading? (on a very amateur domestic level, not as a profession).
E.g. if I changed $10,000 to £, then wait for the rate to improve and bring it back, the profit would be taxable, correct? Would it be capital gains? Is that around 40%, as in UK? [Am thinking that it might be worth doing, even with the tax payable - it's free money!] [obviously is also danger that rates continue in same direction, but think this is highly unlikely to continue indefinitely] Has anyone dabbled in this?

If you used the same company to go both ways they may spot it, and tell you about the agreement you signed whereby you agree to use their services for one-off or occasional trades. Some companies allow you to set up a trading account if you want to go into speculation, but with it you have the usual fees/tax implications, and so on.

If you were to use one company for Au-->UK, wait for a favourable turnaround in the rate, and then use a different company for the UK-->Au leg, then you could, in theory, use these fluctuations to your advantage.

There would appear to be a tax and compliance issues though. (and I'm not condoning that kind of behaviour )

big.

It's good for those going back to UK.

I wouldn't bother....its all way too unpredictable.

If the gain was taxable in Aus it would be at your marginal tax rate, so probably 30 or 40% depending on your income.