Transfering Funds !
Oct 16th 2008, 3:09 am
#1
Forum Regular
Thread Starter
Joined: Apr 2007
Location: Isle of Sheppey
Posts: 43
Transfering Funds !
Hi new to this so may ask silly questions...
I have still not sold our property which holds all our hard earned cash..
But was wondering if i register can i hold an exchange rate until i have the available cash.. In the mean time can i exchange small quantities as i earn it?
As the exchange rate is so strong i thought of fixing next time it is around 2.60 mark is this feasi
confused:
I have still not sold our property which holds all our hard earned cash..
But was wondering if i register can i hold an exchange rate until i have the available cash.. In the mean time can i exchange small quantities as i earn it?
As the exchange rate is so strong i thought of fixing next time it is around 2.60 mark is this feasi
confused:
Oct 16th 2008, 9:42 pm
#2
BE Enthusiast
Joined: Dec 2004
Posts: 524
Re: Transfering Funds !
Hi Katmac,
No need to worry about the silly questions. That's exactly why I'm here. Believe me, if I were in your shoes and didn't work for a currency broker I'd be asking exactly the same!
It is very common for migrant’s money to be tied up in their property, and with the current climate many want to take advantage of the recent moves.
One option to consider is a Forward Contract. This will enable you to buy some Aussie Dollars now, fix the rate of exchange for a later date (up to two years ahead) with just a 10% deposit. For example, £1000 deposit can fix you £10,000 worth of Aussies dollars.
I hope this makes sense?
Mark Bodega
Director - HiFX
No need to worry about the silly questions. That's exactly why I'm here. Believe me, if I were in your shoes and didn't work for a currency broker I'd be asking exactly the same!
It is very common for migrant’s money to be tied up in their property, and with the current climate many want to take advantage of the recent moves.
One option to consider is a Forward Contract. This will enable you to buy some Aussie Dollars now, fix the rate of exchange for a later date (up to two years ahead) with just a 10% deposit. For example, £1000 deposit can fix you £10,000 worth of Aussies dollars.
I hope this makes sense?
Mark Bodega
Director - HiFX
