Seen the recent currency move?
Jun 1st 2004, 3:19 pm
#1
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Seen the recent currency move?
3 cents this afternoon
Jun 1st 2004, 3:23 pm
#2
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Location: East of Eden?
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If only the house was sold
Jun 1st 2004, 3:27 pm
#3
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xe.com Universal Currency Converter
Live mid-market rates as of 2004.06.01 15:25:50 GMT.
1.00 GBP
United Kingdom Pounds = 2.59731 AUDAustralia Dollars
1 GBP = 2.59731 AUD 1 AUD = 0.385014 GBP
NEW! Do your foreign exchange on-line with XE.com's XEtrade. BEST RATES guaranteed
Live mid-market rates as of 2004.06.01 15:25:50 GMT.
1.00 GBP
United Kingdom Pounds = 2.59731 AUDAustralia Dollars
1 GBP = 2.59731 AUD 1 AUD = 0.385014 GBP
NEW! Do your foreign exchange on-line with XE.com's XEtrade. BEST RATES guaranteed
Jun 1st 2004, 3:28 pm
#4
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Originally posted by arnie2oz
If only the house was sold
If only the house was sold
You dont need to sell the house to buy dollars.. go on buy some on a forward contract.
Jun 1st 2004, 3:32 pm
#5
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Whats a forward contract and how do you do it
Jun 1st 2004, 3:34 pm
#6
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Originally posted by itsasecret
You dont need to sell the house to buy dollars.. go on buy some on a forward contract.
You dont need to sell the house to buy dollars.. go on buy some on a forward contract.
Jun 1st 2004, 3:39 pm
#8
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Originally posted by shol
Whats a forward contract and how do you do it
Whats a forward contract and how do you do it
Jun 1st 2004, 3:39 pm
#9
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Forward contract - Buy an amount now (I bought £50K pounds worth on a forward as thats at least an amount I have in equity in my house) and secured my rate.
Then I paid 10% of that (I had £5K in an account so that wasnt a problem) and they then hold the rest of the $'s at the rate that I bought at. When the house completes and I have the money I pay the remaining £45K I owe and then they give me all my luvvvvvverly A$.
The remaining £10K or so from the sale of my house will go to a 'spot' and I takes my chances on the day as to the rate.
Easy as that.......well if you have some spare cash sitting around to pay the 10% of course.
Then I paid 10% of that (I had £5K in an account so that wasnt a problem) and they then hold the rest of the $'s at the rate that I bought at. When the house completes and I have the money I pay the remaining £45K I owe and then they give me all my luvvvvvverly A$.
The remaining £10K or so from the sale of my house will go to a 'spot' and I takes my chances on the day as to the rate.
Easy as that.......well if you have some spare cash sitting around to pay the 10% of course.
Jun 1st 2004, 3:40 pm
#10
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Originally posted by itsasecret
It basically means you secure the rate now.!! but pay later (you can extend the pay later date too, for free.)
It basically means you secure the rate now.!! but pay later (you can extend the pay later date too, for free.)
Jun 1st 2004, 3:42 pm
#11
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Originally posted by shol
Whats a forward contract and how do you do it
Whats a forward contract and how do you do it
You go to a company such as HIFX and ask to buy say £100,000 of Aus $ at todays x-rate in say 6mths time. You get the rate you want and the security. I think you have to put down 10% or so, so you still need some serious cash.
Sure someone else can provide better info
Jun 1st 2004, 3:44 pm
#12
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Originally posted by ianj
Forward contract - Buy an amount now (I bought £50K pounds worth on a forward as thats at least an amount I have in equity in my house) and secured my rate.
Then I paid 10% of that (I had £5K in an account so that wasnt a problem) and they then hold the rest of the $'s at the rate that I bought at. When the house completes and I have the money I pay the remaining £45K I owe and then they give me all my luvvvvvverly A$.
The remaining £10K or so from the sale of my house will go to a 'spot' and I takes my chances on the day as to the rate.
Easy as that.......well if you have some spare cash sitting around to pay the 10% of course.
Forward contract - Buy an amount now (I bought £50K pounds worth on a forward as thats at least an amount I have in equity in my house) and secured my rate.
Then I paid 10% of that (I had £5K in an account so that wasnt a problem) and they then hold the rest of the $'s at the rate that I bought at. When the house completes and I have the money I pay the remaining £45K I owe and then they give me all my luvvvvvverly A$.
The remaining £10K or so from the sale of my house will go to a 'spot' and I takes my chances on the day as to the rate.
Easy as that.......well if you have some spare cash sitting around to pay the 10% of course.
Can you back out if the rate is less than the spot ? Or is that an option ? Or are they the same thing ??
You can see my lack of knowledge shining through !!
Jun 1st 2004, 3:46 pm
#13
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Originally posted by arnie2oz
If only the house was sold
If only the house was sold
In same boat as you mate, but I was saying that a few months ago when it was down at 2.35 and everyone was saying it was going down to 2.
So stay positive - you may do even better in the future !!
Jun 1st 2004, 3:48 pm
#14
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Originally posted by sjn2003
Can you back out if the rate is less than the spot ? Or is that an option ? Or are they the same thing ??
You can see my lack of knowledge shining through !!
Can you back out if the rate is less than the spot ? Or is that an option ? Or are they the same thing ??
You can see my lack of knowledge shining through !!
No - its a contract
Because Aussie interest rates are higher than £, they may well extend the forward date for free (coz they make more $'s out of you)
Jun 1st 2004, 4:02 pm
#15
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My advice would be speak to a company (I used Hifx but there are others).
Just phone up, have a chat with a dealer who will tell you what the various ways and means are for buying currency. They will send you an info pack and thats it. You're not tied into them, they will just have a chat with you and send you info.
After you know whats what you can go with whoever you wish to make your purchase.
Just phone up, have a chat with a dealer who will tell you what the various ways and means are for buying currency. They will send you an info pack and thats it. You're not tied into them, they will just have a chat with you and send you info.
After you know whats what you can go with whoever you wish to make your purchase.