Whats happening to exchange rate?
Mar 19th 2006, 1:55 pm
#1
Guest
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Whats happening to exchange rate?
I was told by HIFX that the exchange rate would not get to 2.40 again.It is 2.415 at the moment what does the future hold up or down?? 
Mar 19th 2006, 2:18 pm
#2
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Joined: Oct 2005
Posts: 191
Re: Whats happening to exchange rate?
Originally Posted by Sarrob
I was told by HIFX that the exchange rate would not get to 2.40 again.It is 2.415 at the moment what does the future hold up or down??
Mar 19th 2006, 8:33 pm
#3
Loving it in Bundy
Joined: Sep 2003
Location: Bundaberg, Australia
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Re: Whats happening to exchange rate?
Originally Posted by Sarrob
I was told by HIFX that the exchange rate would not get to 2.40 again.It is 2.415 at the moment what does the future hold up or down??
This could all be different now, but I don't think it is. Good luck.
Sarah
Mar 19th 2006, 9:27 pm
#4
Ex BE ***** Addict
Joined: Jul 2005
Posts: 3,770
Re: Whats happening to exchange rate?
Originally Posted by teach
Ah but that is only if you are changing over 50k (we have 48k), the rate for less than this will only be given to you over the phone. We didn't know this until we went to change our money and were told that it is and idicative rate only. We eventually change our money with Commonwealth who gave us a better rate than HIFX.
This could all be different now, but I don't think it is. Good luck.
Sarah
This could all be different now, but I don't think it is. Good luck.
Sarah
FWIW, If you can get one or have got one a Virgin one account is the bees knees, If you have one and are comming here, ask to keep the account live and this makes all your future uk->Oz->uk transfers much much simpler and they seem geared up for international banking, much better than all our other UK bank accounts and building soc. accounts I might add.
Mar 20th 2006, 6:22 am
#5
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Re: Whats happening to exchange rate?
So does anyone know why it's on the up?
As for Hifx they just want you to change it up that day and if they could predict what was happening they wouldn't be working, they would be sunning themselves on their yacht. They have given us plenty of duff advice in the past which I know to ignore more recently.
As for Hifx they just want you to change it up that day and if they could predict what was happening they wouldn't be working, they would be sunning themselves on their yacht. They have given us plenty of duff advice in the past which I know to ignore more recently.
Mar 20th 2006, 6:53 am
#6
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Re: Whats happening to exchange rate?
Does anyone have a link to a website comparing the live exchange rate of the Australian Dollar against other currencies, not just Sterling.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
Mar 20th 2006, 7:05 am
#7
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Re: Whats happening to exchange rate?
It is dropping against a few, I always watch the bbc website.
Originally Posted by migrantoz
Does anyone have a link to a website comparing the live exchange rate of the Australian Dollar against other currencies, not just Sterling.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
Mar 20th 2006, 7:16 am
#8
An Australian Citizen !!
Joined: Aug 2004
Location: Terrigal - NSW Central Coast since June 2005
Posts: 1,237
Re: Whats happening to exchange rate?
Originally Posted by migrantoz
Does anyone have a link to a website comparing the live exchange rate of the Australian Dollar against other currencies, not just Sterling.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
Check out XE.com.
The HIFX site also has various comparison charts, as do most of the other FX dealer sites.
Live mid-market rate 2 minutes ago was $2.4367. Changing their tune from late last Friday, the Bloomberg analysts now reckon that the Aus$ still has some way to fall, which should now guarantee that it makes a full recovery over the next couple of days !!
Regards
Jim
Mar 20th 2006, 7:18 am
#9
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Re: Whats happening to exchange rate?
Originally Posted by Swaffy
So does anyone know why it's on the up?
As for Hifx they just want you to change it up that day and if they could predict what was happening they wouldn't be working, they would be sunning themselves on their yacht. They have given us plenty of duff advice in the past which I know to ignore more recently.
As for Hifx they just want you to change it up that day and if they could predict what was happening they wouldn't be working, they would be sunning themselves on their yacht. They have given us plenty of duff advice in the past which I know to ignore more recently.
Australia's official interest rate has remained at 5.5 per cent since a quarter of a percentage point rise in March last year with no change expected in the foreseeable future.
Meanwhile, interest rates in other markets are rising or look set to increase soon.
The Bank of Japan recently signalled an end to its five-year experiment with near-zero interest rates while the US Federal Reserve has held its rates at 4.5 per cent after a long run of increases with more rises flagged.
The shrinking interest rate gaps have led investor support away from the Australian currency.
http://www.couriermail.news.com.au/s...003402,00.html
Mar 20th 2006, 7:19 am
#10
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Re: Whats happening to exchange rate?
Originally Posted by migrantoz
Does anyone have a link to a website comparing the live exchange rate of the Australian Dollar against other currencies, not just Sterling.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
I'd be interested to see if the aussie dollar is sliding against other currencies too.
Here is the GPB v AUD for last 10 years...
Mar 20th 2006, 7:33 am
#11
An Australian Citizen !!
Joined: Aug 2004
Location: Terrigal - NSW Central Coast since June 2005
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Re: Whats happening to exchange rate?
Originally Posted by ABCDiamond
This may help to explain it:
Australia's official interest rate has remained at 5.5 per cent since a quarter of a percentage point rise in March last year with no change expected in the foreseeable future.
Meanwhile, interest rates in other markets are rising or look set to increase soon.
The Bank of Japan recently signalled an end to its five-year experiment with near-zero interest rates while the US Federal Reserve has held its rates at 4.5 per cent after a long run of increases with more rises flagged.
The shrinking interest rate gaps have led investor support away from the Australian currency.
http://www.couriermail.news.com.au/s...003402,00.html
Australia's official interest rate has remained at 5.5 per cent since a quarter of a percentage point rise in March last year with no change expected in the foreseeable future.
Meanwhile, interest rates in other markets are rising or look set to increase soon.
The Bank of Japan recently signalled an end to its five-year experiment with near-zero interest rates while the US Federal Reserve has held its rates at 4.5 per cent after a long run of increases with more rises flagged.
The shrinking interest rate gaps have led investor support away from the Australian currency.
http://www.couriermail.news.com.au/s...003402,00.html
Jim
Mar 20th 2006, 8:34 am
#12
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Posts: 950
Re: Whats happening to exchange rate?
Originally Posted by ABCDiamond
This may help to explain it:
Australia's official interest rate has remained at 5.5 per cent since a quarter of a percentage point rise in March last year with no change expected in the foreseeable future.
Meanwhile, interest rates in other markets are rising or look set to increase soon.
The Bank of Japan recently signalled an end to its five-year experiment with near-zero interest rates while the US Federal Reserve has held its rates at 4.5 per cent after a long run of increases with more rises flagged.
The shrinking interest rate gaps have led investor support away from the Australian currency.
http://www.couriermail.news.com.au/s...003402,00.html
Australia's official interest rate has remained at 5.5 per cent since a quarter of a percentage point rise in March last year with no change expected in the foreseeable future.
Meanwhile, interest rates in other markets are rising or look set to increase soon.
The Bank of Japan recently signalled an end to its five-year experiment with near-zero interest rates while the US Federal Reserve has held its rates at 4.5 per cent after a long run of increases with more rises flagged.
The shrinking interest rate gaps have led investor support away from the Australian currency.
http://www.couriermail.news.com.au/s...003402,00.html
The article makes good points.
However, what I don't understand is why GBP is strenghtening against AUD $?
In the UK , interest rates haven't done much either since last autumn (when there was a 0.25% decrease), and the consensus outlook for UK interest rates is a 0.25% decrease at some point in summer.
So, I'd understand it if there was specualtion that our interest rates were gonna rise.
Any comments?
Mar 20th 2006, 8:38 am
#13
Lost in BE Cyberspace
Joined: Nov 2003
Location: Scotland
Posts: 7,949
Re: Whats happening to exchange rate?
Originally Posted by arkon
We also got a better rate when we transfered from a virgin one account direct bank to bank. Easier too.
FWIW, If you can get one or have got one a Virgin one account is the bees knees, If you have one and are comming here, ask to keep the account live and this makes all your future uk->Oz->uk transfers much much simpler and they seem geared up for international banking, much better than all our other UK bank accounts and building soc. accounts I might add.
FWIW, If you can get one or have got one a Virgin one account is the bees knees, If you have one and are comming here, ask to keep the account live and this makes all your future uk->Oz->uk transfers much much simpler and they seem geared up for international banking, much better than all our other UK bank accounts and building soc. accounts I might add.
OzTennis
Mar 20th 2006, 8:48 am
#14
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Joined: Jan 2004
Location: Narraweena, narrawhere? Northern beaches Sydney
Posts: 169
Re: Whats happening to exchange rate?
2.442 now not that I'm watching it or anything...I am aiming at 2.5 and then I will buy.
Mar 20th 2006, 10:03 am
#15
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Joined: Feb 2004
Location: Brisbaneshire
Posts: 5,209
Re: Whats happening to exchange rate?
Originally Posted by ABCDiamond
This may help to explain it:
Australia's official interest rate has remained at 5.5 per cent since a quarter of a percentage point rise in March last year with no change expected in the foreseeable future.
Meanwhile, interest rates in other markets are rising or look set to increase soon.
The Bank of Japan recently signalled an end to its five-year experiment with near-zero interest rates while the US Federal Reserve has held its rates at 4.5 per cent after a long run of increases with more rises flagged.
The shrinking interest rate gaps have led investor support away from the Australian currency.
http://www.couriermail.news.com.au/s...003402,00.html
Australia's official interest rate has remained at 5.5 per cent since a quarter of a percentage point rise in March last year with no change expected in the foreseeable future.
Meanwhile, interest rates in other markets are rising or look set to increase soon.
The Bank of Japan recently signalled an end to its five-year experiment with near-zero interest rates while the US Federal Reserve has held its rates at 4.5 per cent after a long run of increases with more rises flagged.
The shrinking interest rate gaps have led investor support away from the Australian currency.
http://www.couriermail.news.com.au/s...003402,00.html
Does anyone think that the exchange rate will remain this way for some time then considering all other factors?
Cheers.