Pound - AUD exchange rates
 

I just spoke with HiFX about sending £10,000 to Australia and they told me the exchange rate was now BELOW 2 Dollars to the Pound - OUCH!

I'll be loosing several thousand Dollars compared to 6 months ago.

- CDM

Re: Pound - AUD exchange rates
 

I'm also in the same situation, what's to do? Just keep the green in a bank over here and keep chipping away, or bite the bullet? Any advise out there would be welcome.

Re: Pound - AUD exchange rates
 

it was 2.08 two weeks ago , so hold fire!

Re: Pound - AUD exchange rates
 

How much did they offer you?

Re: Pound - AUD exchange rates
 

Just shy of 2%.

- CDM

Re: Pound - AUD exchange rates
 

I have been watching it since March............... actually that's not true, I have been watching it since last October as that's when we were due to exchange contracts on our house. In the end we exchanged in December and missed the 2.7 although we did fix some at 2.3. Now we just watch the rate ping pong between 2 and 2.1. Most of our equity is trapped in the UK. We will be waiting a long time to see 2.5 again.... Wish we had settled for 2.3. Hindsight is a wonderful thing!

Re: Pound - AUD exchange rates
 

Stop thinking along the lines of what you've lost (or gained) had you exchanged before today. It's irrelevant. We all do it but it does no good and seriously doesn't help the stress factor of the move.:)

Re: Pound - AUD exchange rates
 

couldnt have said it better myself... Hindsight is one of the worst traits we have!

Re: Pound - AUD exchange rates
 

In my opinion! keep your money in the bank. The AU$ is very overvalued not just against the pound but the US$ too. This is because housing and retail data is artificially high due to the FHBG and the $900 economic stimulus. Once this ends and the $900 has worked its way thru the system the outlook may appear a little more bleak, the AU$ will devalue and we could be looking at the 2.3 - 2.7 to the pound range. Watch this space....................

Re: Pound - AUD exchange rates
 

I'm planning on travelling at the end of August and we'll need funds whilst there so I have a limited window of opportunity to 'wait'.

If I keep the money in the UK bank, I'll be hit with charges to withdraw it from within Oz.

- CDM

Re: Pound - AUD exchange rates
 

I second that - I could've done a deal in October at 2.61 but couldn't quite get my "beans in a row" plus wasn't sure whether the move was going to happen or not. Now it looks likely & we are down at 2 (ish). I have spend a while pondering the potential AUD $200k "loss" but heck que cera cera ...

... things will improve, got enough AUD$ to get myself started & hopefully I may have a decent job in the bag in a couple of weeks which will make all the difference!! :thumbsup:

Re: Pound - AUD exchange rates
 

At $1.99 the £ is probably still overvalued - could drop to $1.90 and there are no indications that it will climb strongly in the next 18 months.

Re: Pound - AUD exchange rates
 

Im sorry, but that is wishful thinking! with commodity prices high and interest rates appealing the aussie is set to stay strong.

In my opinion i would hold out for about 2.05 if you need it soon, it should go back above 2.00 again.

Re: Pound - AUD exchange rates
 

Agree. There is nothing but evidence out there in the GBP/AUD relationship to continue to indicate the trend we have been seeing for the last 6 months. You could be waiting a loooonnnggg time before you even see 2.20 again.

For every person who gives you an opinion one way on this thread, you will get another who goes the other way though, so take it all with a pinch of salt.

Don't let your plans to emigrate be dominated by the current exchange rate and the endless agonising over what it is going to do...

Re: Pound - AUD exchange rates
 

I'm in similar boat - we moved on Aug 23rd and I wish I had fixed an exchange in Oct 08 - when I did a small exchange. But the way I am looking at it now is the interest I will earn on the money in an Oz bank account as opposed to Uk and any possible exchange gains.