Falling!!! Help!!!

[kpc]

I just wanted to post this for the record::mrgreen::shock::!:
AUD 1 = USD 1.0003087438 on xe.com now!!

 

[delfredo]

I just wanted to post this for the record::mrgreen::shock::!:
AUD 1 = USD 1.0003087438 on xe.com now!!

Won't be the rate that you'll get if you're buying USD cash or credit into prepaid travel cards.

 

[medhead]

Won't be the rate that you'll get if you're buying USD cash or credit into prepaid travel cards.

Yes travel cards are poor value. That's why I don't use them.

 

[kpc]

AUD$1 = USD$1.011 on xe.com now

ie AUD$1000 = USD$1011 ....just sounds and looks good for the Aussie traveller:!::mrgreen:

 

[JohnK]

And if one is paid in Euro?

Not good if one also has a lot of Euros. Not long ago 1,000 Euros was 2,000 AUD and now it is less than 1,400 AUD.

 

[oz_mark]

Johnk must be back in the country. Approaching parity again.....

 

[JohnK]

Not for long oz_mark! Fly out in 12 days.

Seriously, every time I see this thread I start to panic.

 

[kpc]

AUD$1 = USD$1.0169 on xe.com now

ie AUD$1000 = USD$1016.90

I want to exchange a few K AUD---->USD in Sydney; the best rate I can get today from the suggested exchange in Sydney by AFFers (KVBKunlun) is 0.993, a full 2 cents below the official rate. Anyone know of any place in Sydney that gives a better rate?

PS: I'm really spoilt by the Wizard Master card...I paid for a Galapagos cruise (several K USD) last week when the official Fx rate was 0.997; the xchange I got on the Wizard was an unbelievable 0.995!!:mrgreen:

 

[Sprucegoose]

Not good if one also has a lot of Euros. Not long ago 1,000 Euros was 2,000 AUD and now it is less than 1,400 AUD.

Is the EUR a flawed currency? Seems to me to be a political and not an economic solution?

I was comparing investments in various countries recently with some colleagues and it was clear it was not the investment itself but the currency it was purchased in has the largest bearing on returns. Interesting, we dont give this alot of thought in AUS.
I hope the AUD stays above parity.

 

[delfredo]

Is the EUR a flawed currency? Seems to me to be a political and not an economic solution?

I was comparing investments in various countries recently with some colleagues and it was clear it was not the investment itself but the currency it was purchased in has the largest bearing on returns. Interesting, we dont give this alot of thought in AUS.
I hope the AUD stays above parity.

I heard in the news that bank deposit interest rate in Mongolia is approx 14%, which probably explains why their local currency is the best performer in the world in 2010.

 

[delfredo]

AUD$1 = USD$1.0169 on xe.com now

ie AUD$1000 = USD$1016.90

I want to exchange a few K AUD---->USD in Sydney; the best rate I can get today from the suggested exchange in Sydney by AFFers (KVBKunlun) is 0.993, a full 2 cents below the official rate. Anyone know of any place in Sydney that gives a better rate?

PS: I'm really spoilt by the Wizard Master card...I paid for a Galapagos cruise (several K USD) last week when the official Fx rate was 0.997; the xchange I got on the Wizard was an unbelievable 0.995!!:mrgreen:

Try Citibank and HSBC. These foreign banks has better global presence than Big 4 to be able to provide a very competitive rate. Citibank's over-the-counter rates are good for the day and HSBC's are updated several times a day particularly if volatility is high. If you are selling in excess of A$20k, Citibank's spread is 80 pips from spot rate. These banks also have foreign currency accounts which allows you to park your foreign funds if they are not required yet.

 

[delfredo]

Let us not forget about

1.00 AUD = 0.714884 EUR
:mrgreen:

Exactly 2 months after your post, this is now

1.00 AUD = 0.7647 EUR

 

[Flashback]

Exactly 2 months after your post, this is now

1.00 AUD = 0.7647 EUR

.. and I'm loving it!

 

[cove]

Picked up $US overnight at 1.025 with an over the weekend order. Looks like it was done in New York on 3rd.
Very nice Westpac!

 

[Alanslegal]

Not that great but I just picked up some EUR cash for 74.29 , xe has it around 75.95

 

[kpc]

Not that great but I just picked up some EUR cash for 74.29 , xe has it around 75.95

whereabouts, Alan?

 

[delfredo]

Picked up $US overnight at 1.025 with an over the weekend order. Looks like it was done in New York on 3rd.
Very nice Westpac!

Is that the actual rate that you sold your Aussie at or was it the spot rate at that time for which you sold at a lower rate due to the sell spread?

How do you do an over-the-weekend order with Westpac?

 

[Alanslegal]

whereabouts, Alan?

The small money exchange place next to the monorail station at Darling Harbour, Sussex street end. I normally compare that place and the Flight Centre travel money on George Street (next to HCF) between Market and King Street.

Rates are pretty competitive I think and both have no fees. They had USD at 98.8 and 99.0 respectively when I was there about 30minutes ago (xe.com has au$1 at us$1.005 right now).

 

[kpc]

The small money exchange place next to the monorail station at Darling Harbour, Sussex street end. I normally compare that place and the Flight Centre travel money on George Street (next to HCF) between Market and King Street.

Rates are pretty competitive I think and both have no fees. They had USD at 98.8 and 99.0 respectively when I was there about 30minutes ago (xe.com has au$1 at us$1.005 right now).

Thanks Alan...I will check them out. I found this website in my search of places to buy US dollars (cash):
Cheapest currency exchange in Australia revealed... - Flights | hotels | frequent flyer | business class - Australian Business Traveller

Seems they mention a branch of Flight Centre Travel Money on George (near Wynyard) as the best they found, confirming what you have found. Now I have to wait for the AUD to go up again against the USD.....looks like it's going to drop below parity again overnight

 

[cove]

Delfredo we placed the order with Westpac before New year with the Westpac forex dealer at that level. It was not a holiday overseas so that order goes offshore and on 3rd January it traded up to 1.0253 so we get our deal at our ordered level of 1.025. That was the left hand side trade for a buyer.
No one knows if Aussie should be 80 cents or 110 cents but I definitely buy a bit when it is running up.
I bought some Euro and Pounds today but who knows if that was a good idea?
I am thinking about a London flat as part of my bucket list.