Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

what is happening ? exchange rate !!!!!!!!!!!1

what is happening ? exchange rate !!!!!!!!!!!1

Old Oct 6th 2008, 2:42 pm
  #1  
BE Enthusiast
Thread Starter
 
Joined: Apr 2008
Posts: 330
Reading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to allReading fan is a name known to all
Default 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.
Reading fan is offline  
Old Oct 6th 2008, 3:15 pm
  #2  
 
Joined: May 2006
Posts: 405
MTPockets is an unknown quantity at this point
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by Reading fan
Came in from school run and £ to $ gone mad !
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....
MTPockets is offline  
Old Oct 6th 2008, 3:52 pm
  #3  
beach bum
 
ponyrama's Avatar
 
Joined: Feb 2008
Location: Snowy Mountains, NSW
Posts: 1,995
ponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond repute
Default 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?
ponyrama is offline  
Old Oct 6th 2008, 4:55 pm
  #4  
Forum Regular
 
Candy Groove's Avatar
 
Joined: Nov 2007
Location: Sydney
Posts: 183
Candy Groove is a jewel in the roughCandy Groove is a jewel in the roughCandy Groove is a jewel in the roughCandy Groove is a jewel in the roughCandy Groove is a jewel in the rough
Default 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
Candy Groove is offline  
Old Oct 6th 2008, 5:22 pm
  #5  
beach bum
 
ponyrama's Avatar
 
Joined: Feb 2008
Location: Snowy Mountains, NSW
Posts: 1,995
ponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond repute
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by Candy Groove
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'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.
ponyrama is offline  
Old Oct 6th 2008, 6:18 pm
  #6  
Forum Regular
 
Joined: Aug 2008
Location: Australia
Posts: 272
Chris N Lora will become famous soon enoughChris N Lora will become famous soon enough
Default 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
Chris N Lora is offline  
Old Oct 6th 2008, 6:31 pm
  #7  
Forum Regular
 
Joined: Dec 2007
Posts: 90
OZERJON is an unknown quantity at this point
Default 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
OZERJON is offline  
Old Oct 6th 2008, 7:09 pm
  #8  
Forum Regular
 
Angib's Avatar
 
Joined: Mar 2008
Location: Ayrshire, Scotland
Posts: 237
Angib has a brilliant futureAngib has a brilliant futureAngib has a brilliant futureAngib has a brilliant futureAngib has a brilliant futureAngib has a brilliant futureAngib has a brilliant futureAngib has a brilliant future
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

I like ozforez for exchange rates and can set up online easily too !!!
Angib is offline  
Old Oct 7th 2008, 9:40 am
  #9  
BE Enthusiast
 
Joined: Apr 2008
Location: Avoca Beach, NSW
Posts: 557
maroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nicemaroonedNZ is just really nice
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by ponyrama
Well I was just about to move some cash into my aussie account - shall I wait? Will it get better or worse?
I think go now mate - reserve bank just cut interest rates by twice what was anticipated so it's more than likely to rally alot before the end of the week.

I lost out BIG time bringing kiwi $ over 2 days before the Aussie $ crashed - GUTTED!
maroonedNZ is offline  
Old Oct 7th 2008, 9:43 am
  #10  
Melbourne - NE suburbs
 
DownUnderPaddy's Avatar
 
Joined: Jun 2008
Posts: 1,032
DownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond reputeDownUnderPaddy has a reputation beyond repute
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by maroonedNZ
I think go now mate - reserve bank just cut interest rates by twice what was anticipated so it's more than likely to rally alot before the end of the week.
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 :-)

Last edited by DownUnderPaddy; Oct 7th 2008 at 9:46 am.
DownUnderPaddy is offline  
Old Oct 7th 2008, 9:43 am
  #11  
beach bum
 
ponyrama's Avatar
 
Joined: Feb 2008
Location: Snowy Mountains, NSW
Posts: 1,995
ponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond reputeponyrama has a reputation beyond repute
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by maroonedNZ
I think go now mate - reserve bank just cut interest rates by twice what was anticipated so it's more than likely to rally alot before the end of the week.

I lost out BIG time bringing kiwi $ over 2 days before the Aussie $ crashed - GUTTED!
I moved it this morning - got 2.39 from high street bank against reuters of 2.42.
ponyrama is offline  
Old Oct 7th 2008, 9:49 am
  #12  
Account Closed
 
Joined: Jun 2006
Posts: 395
katongkaren is an unknown quantity at this point
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by DownUnderPaddy
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 :-)
But not so good for those investing in Aussie Dollars (sigh)
katongkaren is offline  
Old Oct 7th 2008, 6:19 pm
  #13  
Forum Regular
 
Joined: Feb 2008
Posts: 46
TheDaddy will become famous soon enough
Default 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
TheDaddy is offline  
Old Oct 7th 2008, 10:22 pm
  #14  
Oiiii.. You slaggg!
 
DunRoaminTheUK's Avatar
 
Joined: Feb 2004
Location: Brisbaneshire
Posts: 5,209
DunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond reputeDunRoaminTheUK has a reputation beyond repute
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by MTPockets
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....
Australian stock markets? - she'll be right mate!
DunRoaminTheUK is offline  
Old Oct 8th 2008, 12:07 am
  #15  
 
Joined: May 2006
Posts: 405
MTPockets is an unknown quantity at this point
Default Re: what is happening ? exchange rate !!!!!!!!!!!1

Originally Posted by DunRoaminTheUK
Australian stock markets? - she'll be right mate!
ermmm..... aye yeah - the australian market is obviously completely immune from global carnage because...because...it's so far away? ...takes so long to fly to?
MTPockets is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.