Carrianne

Hi,

Working for a global company in Finance I have the Ozzy rates. Nipped back to Jan 00 and averaged until June this Year. The average exchange rate for the whole period is $2.7051 dollars to the pound so if you want a safe value to exchange at go for that if you can.


Hope this helps

Carrianne

JackieHamilton

Hi Carianne,

I have also tried to do the same using www.Oanda.com.

We are leaving for Brisbane in 6 weeks and are just praying the rate will go up. $2.7 would be nice, it's not however, doing too well at the moment.

Do you know if it is possible to leave your funds here whilst in Oz until the rate is more favourable?

Thanks
Jackie

Carrianne

Not sure about that, I don't think you can as you could be taxed on earnings outside Oz but don't quote me on that, but I know with some you can buy at a guarnteed rate a company like Halewood international. They where advertised on Alan Collects website www.gomatilda.com but I cannot see them someone is using them so they could give us the number. This is what I intend to do though,

PeteY

Id love to get 2.7, but unfortuatly i don't reckon its going to happen again

Just my opinion mind, ex rates are so fickle they can shoot all over the place.



Bear in mind that the historic rate (pre 99) has always been about 2 to the £.

We are going to send half our savings accross now with it at 2.5, that way we don't stand to loose as much if it were to dive, but might still make a bit if it climbs later.

Cheers

Pete

(praying for the pound....)

tinaj

We were told by Halewood that you have up to 1 year from entry date to transfer your funds across.If the rate stays this low we were going to keep most of our money here and transfer it when/if it goes up.

Can anyone confirm this?

Jolyn

There's no feeling in Oz that the rate will go up from 2.5. Feeling is that it will get worse (from a British migrant point of view). Heard this from my father who has just taken out a $2m loan in short term bank bills to extend his business in Queensland so watches the rates closely.

Also one of our friend's husbands here is an Australian forex dealer. They bought an option to lock in the rate when it was 2.8 as it was considered a real anomaly.

Around about 2.2 has always been traditional in the 12 years I've been here I think. For a while £ and US$ were doing well and people thought the Oz economy a bit shaky - hence the 2.8. Turned out not be true - Oz economy is OK or at least better than some (good news for migrants needing a job!) and the markets have figured that out now. With the US economy and $ getting weaker the Oz$ has picked up a lot.

Americans are thinking of cutting interest rates again as their economy's in a mess so maybe we should consider ourselves lucky if we can get 2.5.

All the advice I got might be completely wrong though - fingers crossed! The consolation is - if you get a bad rate it's because the economy in Oz is doing well so at least your job prospects will be good!

Stoney

Hi Jackie,
Ozforex have a service where you can leave it with them until a better exchange rate occurs,
I'm not sure if there will be a time limit involved with tax implications though as they are an ozzie company ?

http://www.ozforex.com.au

someone else might let you (us) know on here.

edwin

Why not take a foreign currency account with an ozzie bank and leave your money there till the exchange rate gets a bit better?You will get intrest on it and you can take out whatever you need @ that point.

pommie bastard

Try over 10 years and your figure is looking like a dream thats long gone.

Carrianne

PB a girl can dream can't she !

Thanks for some of that advice a Foreign Currency Account sounds pretty good I shall look into that.

jockney

Hi we are hoping to go end of september.we have changed up the money for bond when it was 2.52($100000)It hurt.Spoke to halewood yesterday and told them to give me acall when if it hits 2.60.A few months ago we would`nt have dreamed of changing the rest for that but we are sh----g ourselves that it could go down a lot more.2.60 WOULD DO US.BUT STILL HURTS. JOCKNEY:scared:

pommie bastard

Tick , tock homes in Australia go up and pound comes down , you should worry about employment not exchange rates.

THE uncertainty in the global economy is unlikely to be enough to trigger a cut in interest rates this week, with the Reserve Bank of Australia expected to say there is insufficient evidence to warrant a reduction just yet.

But economists warn that some board members will still argue strongly for a cut at tomorrow's meeting, citing the rising dollar and a stumbling world economy, and therefore a no-change outcome is not guaranteed