scoobydooathome

Well folks the OZ Dollar is going one way and the Pound is going a another

combined make the rate even worse for us pommies moving down under ...

This tells me the UK is economy is in DEEP S##T ... and interest rates have to up, BOE left rates the same again er I was dreading a cut,

So come guys is it only ME who is thinking of the Dosh, it has not being mentioned for a while

Long term, any ideas,

er, no gloating JUST COMMENTS, from the Pommies wanting to return to the UK thank you ...

terryg

Scooby snax - u bought a place in OZ yet ? - R u not gonna rent for at least 6 months like most people (?) - If not why dya need to change up already ?

tinaj

It is abit of a nightmare at the moment isn't it?
We worked out for every 10 cent drop we take $33 000 less, the price of a car!!

My Hubby is still convinced that it will go back up nearer the Summer time. Lets hope he is right!

Rudy

Hi Tina,

Well with the amount of money you are taking at that conversion rate, I don't think you'll have a bad life! A lot of people aren't taking much more than your $33000 drop!


Lets hope it starts to go back up, for all our sakes! 10c will cost us about $10 - $15k, thats if we ever get the house sold here, otherwise it makes no odds!

Hazel

scoobydooathome

Hi Terry,

We are in rented now in the UK after just selling our house recently,

The plan is to rent when we get to OZ and sure we don't need to change up yet, it would be nice to see a better rate eh !!!

joebloggs

Not necasarily...exchange rates tend to move with capital flows, which are influenced by interest rate levels, yields on bonds etc. Look at it this way....a couple of years ago when the Ozzie dollar was sinking to record lows against the US dollar I bet you weren't thinking that the Ozzie econmoy was sinking into the s##t.
For what its worth I think that over the next few months the exchange rate (from your point of view) is only going to get worse...think it will probably press down towards 2.2 to the pound...but thats my guess:lecture:

terryg

Hiya scoobs

my point is people like you and I dont need to worry about this for 6-9 months.

At the end of the day theres not much we can do about it............set your budget based on the worse case exchange rate (the worst in my mind is 2.4) - if it gets better than this when you need to buy a house then thats a bonus

Take care mate

scoobydooathome

Hi Terry,

We are thinking the same way as you, but we bottomed out now 2.5 s##t, funny thing is we've been spending the surplus big time I mean BIG TIME !!!

6 / 9 months, well I guess a lot can happen in this time,

Thanks Tel,

Don

Think again, me hearties! It can easily be GBP1 = AUD2 by end 2003. Just have a look at where the exchange rate has been in the last 5 years www.oanda.com .

Cheers - Don

scoobydooathome

Thanks Don, now i'm gonna hit the bottle,

pabloako

If you look at the exchange rate this time last year is was at A$2.50. I know because I went there on a holiday, the week after I got back it went to $2.60!

I was speaking to the grey suited accountants who move money around my company and they said that Oz has relatively high interest rates compared to the UK. If you were abroad would you invest and save money in the UK when the Interest rate is 3.75%?

Australia has 4.75% and that is attractive to investors and savers, hence my company (Just work for them, don't own them!)moved £2 million out there this week.

The USA is 1.75% and they think their exchange rate will get weaker.

Perhaps this is all cods-wollop, who knows?

paulf

The main reason for the drop was the war, gold became very expensive, things should start leveling out now it's over.

Don

Well don't empty the whole bottle (save some for me) because most of the time I talk out of my nether end like most sad old farts.

Cheers - Don

terryg

Thanks Don - whats the quickest way I can kill myself

Don

Whoops, didn't mean to offend, I will have to open a beer as some weird kind of Ave Maria.

If it helps any, NZD went up by more than AUD vs GBP in the last years so I am really up shit street.

Cheers - Don