what is happening ? exchange rate !!!!!!!!!!!1
#1
BE Enthusiast
Thread Starter
Joined: Apr 2008
Posts: 330
what is happening ? exchange rate !!!!!!!!!!!1
Came in from school run and £ to $ gone mad !
Last edited by Reading fan; Oct 6th 2008 at 2:46 pm.
#2
Joined: May 2006
Posts: 405
Re: what is happening ? exchange rate !!!!!!!!!!!1
Global stock markets are tanking. People don't belive (rightly in my opinion) that the bail-out and current plans to restore confidence will work as planned. Money is being moved to 'safer' economies. The era of the 'carry trade' where people borrow money at low rates (japan) and invest it in high yielding currencies (higher interest rates - aussie) is over and being reversed. The Oz economy is considered a fair indicator of global growth (largely a resource based economy - iron ore/metals etc which are in big demand when economies are being boosted) and that outlook is not looking good. If e.g. US and europe slow down, they'll be buying a lot less from e.g. china, who in turn won't need to buy as much from a raw material exporter such as Australia even for pure domestic investment....
#3
Re: what is happening ? exchange rate !!!!!!!!!!!1
Well I was just about to move some cash into my aussie account - shall I wait? Will it get better or worse?
#4
Re: what is happening ? exchange rate !!!!!!!!!!!1
who knows Ponyrama? I'm thinking the same thing too
I've decided to bite the bullet and change it tomorrow. We've done well out of it and I'd rather just get it sorted and not worry about it anymore.
I'll have to try and resist the temptation of checking the rate after that though
I've decided to bite the bullet and change it tomorrow. We've done well out of it and I'd rather just get it sorted and not worry about it anymore.
I'll have to try and resist the temptation of checking the rate after that though
#5
Re: what is happening ? exchange rate !!!!!!!!!!!1
who knows Ponyrama? I'm thinking the same thing too
I've decided to bite the bullet and change it tomorrow. We've done well out of it and I'd rather just get it sorted and not worry about it anymore.
I'll have to try and resist the temptation of checking the rate after that though
I've decided to bite the bullet and change it tomorrow. We've done well out of it and I'd rather just get it sorted and not worry about it anymore.
I'll have to try and resist the temptation of checking the rate after that though
I'm the same - dont know when I'm on a good thing! I'll move mine tomorrow too. Will get about an extra 1000 dollars on what I would have got last week. So musnt grumble.
#6
Forum Regular
Joined: Aug 2008
Location: Australia
Posts: 272
Re: what is happening ? exchange rate !!!!!!!!!!!1
Fingers crossed it will go up even more!! yesterday it was going to cost us £930,00 for our visa application today it is £858.00 fingers cross the dollar will fall more and go to something like $3 to the £ lol
#7
Forum Regular
Joined: Dec 2007
Posts: 90
Re: what is happening ? exchange rate !!!!!!!!!!!1
Hi there, we are planning to move early next year. We have sold our house here in the uk and have been in rented accommodation for the last 8 months.
have seen the exchange rate steadily climb up and then shoot up over last 24 yrs i,m thinking it's time to get a currency broker involved. Could anyone recommend a good broker. I have money from house sell scattered about various banks in the uk and i'm concerned i may miss the boat.
many thanks
john
have seen the exchange rate steadily climb up and then shoot up over last 24 yrs i,m thinking it's time to get a currency broker involved. Could anyone recommend a good broker. I have money from house sell scattered about various banks in the uk and i'm concerned i may miss the boat.
many thanks
john
#8
Re: what is happening ? exchange rate !!!!!!!!!!!1
I like ozforez for exchange rates and can set up online easily too !!!
#9
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Joined: Apr 2008
Location: Avoca Beach, NSW
Posts: 557
Re: what is happening ? exchange rate !!!!!!!!!!!1
I lost out BIG time bringing kiwi $ over 2 days before the Aussie $ crashed - GUTTED!
#10
Re: what is happening ? exchange rate !!!!!!!!!!!1
Instead I come home to find a 1% cut and that all of the major banks are going to pass on a .8% cut in mortgage rates.
WOW ! That's $160 less a month interest on our 230k outstanding balance.
Well received news indeed :-)
Last edited by DownUnderPaddy; Oct 7th 2008 at 9:46 am.
#11
Re: what is happening ? exchange rate !!!!!!!!!!!1
I moved it this morning - got 2.39 from high street bank against reuters of 2.42.
#12
Account Closed
Joined: Jun 2006
Posts: 395
Re: what is happening ? exchange rate !!!!!!!!!!!1
Fantastic news that !! I thought they were only going to cut the rate by .5% and that the banks were not going to pass anything on.
Instead I come home to find a 1% cut and that all of the major banks are going to pass on a .8% cut in mortgage rates.
WOW ! That's $160 less a month interest on our 230k outstanding balance.
Well received news indeed :-)
Instead I come home to find a 1% cut and that all of the major banks are going to pass on a .8% cut in mortgage rates.
WOW ! That's $160 less a month interest on our 230k outstanding balance.
Well received news indeed :-)
#13
Forum Regular
Joined: Feb 2008
Posts: 46
Re: what is happening ? exchange rate !!!!!!!!!!!1
I think that the Aussies have done it on purpose to entice us all over during our economical meltdown hahaha
#14
Re: what is happening ? exchange rate !!!!!!!!!!!1
Global stock markets are tanking. People don't belive (rightly in my opinion) that the bail-out and current plans to restore confidence will work as planned. Money is being moved to 'safer' economies. The era of the 'carry trade' where people borrow money at low rates (japan) and invest it in high yielding currencies (higher interest rates - aussie) is over and being reversed. The Oz economy is considered a fair indicator of global growth (largely a resource based economy - iron ore/metals etc which are in big demand when economies are being boosted) and that outlook is not looking good. If e.g. US and europe slow down, they'll be buying a lot less from e.g. china, who in turn won't need to buy as much from a raw material exporter such as Australia even for pure domestic investment....