Transferring Money
May 25th 2007, 12:04 am
#1
Sunny Sydney
Thread Starter
Joined: Aug 2005
Location: Sydney
Posts: 6,241
Transferring Money
Mr Herrchook works for an investment company here in the UK and has just had a meeting with one of the international dealers to talk through whether or not now is a good time to move our money.
The upshot of their conversation was that the current rate is definately worth considering. It is their opinion that the Australian dollar is not performing well due to the drought affecting their economy. The word from those who know is that it's probably not going to get any better for quite some time, and is more likely to drop.
Armed with that information, and the fact that the rate's not really "that" bad right now, I think we're going to go for it.
Just thought I'd share. But please remember that this is not financial advice. It was an informal chat between colleagues and rates can go up as well as down.
The upshot of their conversation was that the current rate is definately worth considering. It is their opinion that the Australian dollar is not performing well due to the drought affecting their economy. The word from those who know is that it's probably not going to get any better for quite some time, and is more likely to drop.
Armed with that information, and the fact that the rate's not really "that" bad right now, I think we're going to go for it.
Just thought I'd share. But please remember that this is not financial advice. It was an informal chat between colleagues and rates can go up as well as down.
May 25th 2007, 12:15 am
#2
Timelord
Joined: May 2006
Location: Lost in space...
Posts: 2,834
Re: Transferring Money
Mr Herrchook works for an investment company here in the UK and has just had a meeting with one of the international dealers to talk through whether or not now is a good time to move our money.
The upshot of their conversation was that the current rate is definately worth considering. It is their opinion that the Australian dollar is not performing well due to the drought affecting their economy. The word from those who know is that it's probably not going to get any better for quite some time, and is more likely to drop.
Armed with that information, and the fact that the rate's not really "that" bad right now, I think we're going to go for it.
Just thought I'd share. But please remember that this is not financial advice. It was an informal chat between colleagues and rates can go up as well as down.
The upshot of their conversation was that the current rate is definately worth considering. It is their opinion that the Australian dollar is not performing well due to the drought affecting their economy. The word from those who know is that it's probably not going to get any better for quite some time, and is more likely to drop.
Armed with that information, and the fact that the rate's not really "that" bad right now, I think we're going to go for it.
Just thought I'd share. But please remember that this is not financial advice. It was an informal chat between colleagues and rates can go up as well as down.
Surely if you're in the UK planning to come out here and the Aussie is performing badly and likely to drop then you'll be wanting to hang on to Sterling for a while to get more Dollars...???
May 25th 2007, 12:19 am
#3
South Yarra Sheila
Joined: Apr 2007
Posts: 1,078
Re: Transferring Money
as figures not my strong point...
May 25th 2007, 12:34 am
#4
Victorian Evangelist
Joined: Sep 2005
Location: Melbourne, by the beach, living the dream.
Posts: 7,704
Re: Transferring Money
I was thinking that too. I say hold on for a bit.
also not financial advice in any jurisdiction etc etc
Buzzy
also not financial advice in any jurisdiction etc etc
Buzzy
May 25th 2007, 12:46 am
#5
Sunny Sydney
Thread Starter
Joined: Aug 2005
Location: Sydney
Posts: 6,241
Re: Transferring Money
I probably worded it wrongly. I'm def NOT a number person
.
Colleague said rate isn't likely to get any better so best bet (in her personal opinion) was to either secure the current rate and keep money here til it goes up again, or secure the rate and transfer it into a high rate Aussie account.
Does that make any better sense??
Gill
.Colleague said rate isn't likely to get any better so best bet (in her personal opinion) was to either secure the current rate and keep money here til it goes up again, or secure the rate and transfer it into a high rate Aussie account.
Does that make any better sense??
Gill
May 25th 2007, 12:49 am
#6
Victorian Evangelist
Joined: Sep 2005
Location: Melbourne, by the beach, living the dream.
Posts: 7,704
Re: Transferring Money
I probably worded it wrongly. I'm def NOT a number person.
Colleague said rate isn't likely to get any better so best bet (in her personal opinion) was to either secure the current rate and keep money here til it goes up again, or secure the rate and transfer it into a high rate Aussie account.
Does that make any better sense??
Gill
.Colleague said rate isn't likely to get any better so best bet (in her personal opinion) was to either secure the current rate and keep money here til it goes up again, or secure the rate and transfer it into a high rate Aussie account.
Does that make any better sense??
Gill
If the Australian economy is being affected by the drought, the dollar will probably get weaker. Therefore the advice should be to wait before changing £s.
The colleague seems to have made two opposite statements in the same sentence!
Buzzy
May 25th 2007, 2:01 am
#7
Forum Regular
Joined: Dec 2006
Location: The Burbs of Brisbane
Posts: 288
Re: Transferring Money
Gday,
Had a chat today with Moneycorp they say the dollar has had a good week now back at $2.41 today and hoping to keep rising better than the low of $2.37 last week i'm going to hold off another week and see what happens.
Haggis
Had a chat today with Moneycorp they say the dollar has had a good week now back at $2.41 today and hoping to keep rising better than the low of $2.37 last week i'm going to hold off another week and see what happens.
Haggis
