Falling!!! Help!!!

[JohnK]

Out of interest, why are you using USD in SEA instead of just using AUD?

Sometimes the USD holds up a little better in Thailand when the AUD is not doing so well.

If the AUD fell to USD0.90 before my next trip then I will only be getting ~27-28 THB where as if I hedge to the USD at ~1.03 then I will be receiving ~29-31 THB.

Of course one needs to have spare cash to be able to do it that way.

 

[Flashback]

But what will you say to me when it goes to 0.5999 and then keeps heading South?
The international markets don't sem to know that Wayne has a problem down here and it isn't just his 1950s Defence Budget.

I'll say "oh well"! Have moved over all I need to for the goal I have in mind now, anyway. It can sit there and earn interest meanwhile and I then have some money to use next time I go home (if/when....).

What do you find as the most cost effective method to move your money to another country??

28 Degress and several trips to the ATM!

If you are in the other country you can move 1000 GBP per day using 28 Degrees card totally fee free as the London ATMs do not all have a fee for withdrawal.
For larger amounts I use Westpac and if you PM me I could give you their dealer desk for amounts over $25,000.
In the US there are usually ATM fees so you have to search out a machine that is reasonable.
You can open foreign currency accounts in Australia but the interest rates are beyond ridiculously low rates for US, Euro and Pounds Sterling.

That would only mimic what the GBP account in the UK does anyway... you earn next to nothing here

 

[cove]

It is good to read that you still think of Australia as "home".
We might have Wayne want you to return to help him with his budget struggles back here.
In between time if you keep barracking for Australia in sporting events we will know we haven't lost you to "Team GB".
There was a half baked news story that Glenn Stevens was being considered for a top spot in the UK.
Many market analysts are predicting a sharp fall in the Aussie dollar but it has refused to drop like the Iranian currency so far.

 

[Flashback]

It is good to read that you still think of Australia as "home".

Oops! Freudian slip maybe?

We might have Wayne want you to return to help him with his budget struggles back here.
In between time if you keep barracking for Australia in sporting events we will know we haven't lost you to "Team GB".
There was a half baked news story that Glenn Stevens was being considered for a top spot in the UK.
Many market analysts are predicting a sharp fall in the Aussie dollar but it has refused to drop like the Iranian currency so far.

Don't worry, my Aussie rules football arrived in my hands yesterday morning and I'm starting to infiltrate the English. There's no chance I'll be barracking for Team GB

Speaking of exchange rates, just booked a long weekend trip to Naples as the Euro is so weak against the GBP. Thanks to BA as well we upgraded a 54 GBP fare to Club Europe for an extra 79 GBP each. Not a bad deal for a 2.5 hour flight.

 

[cove]

Which airport do you use for BA flights?
Your GBP currency certainly grows wings at that price.
Was that a Sherrin or a Burley football?

 

[Flashback]

Which airport do you use for BA flights?
Your GBP currency certainly grows wings at that price.
Was that a Sherrin or a Burley football?

LGW, avoid LHR at all costs. Thought it might be a nice treat for the other half to end off the year.

Sherrin, WCE anniversary edition IIRC!

 

[Flashback]

AUD->GBP about to hit .67 - excellent.

 

[Mal]

LGW, avoid LHR at all costs. Thought it might be a nice treat for the other half to end off the year.

Hmm, I much prefer the F lounge at LHR than LGW, although LGW does win the "quick in, quick out" title.
LGW is also quicker for me to get to via public transport, but more expensive than LHR.

BTW, heading to Naples the other day there was one person in J. Heading back last night, there were zero in J.

 

[Sprucegoose]

Oops! Freudian slip maybe?



Don't worry, my Aussie rules football arrived in my hands yesterday morning and I'm starting to infiltrate the English. There's no chance I'll be barracking for Team GB

Speaking of exchange rates, just booked a long weekend trip to Naples as the Euro is so weak against the GBP. Thanks to BA as well we upgraded a 54 GBP fare to Club Europe for an extra 79 GBP each. Not a bad deal for a 2.5 hour flight.

dont give those pommies any quarter!

watch your back.....

 

[Pollywaffle]

AUD->GBP about to hit .67 - excellent.

Hmm...my trip's not until Dec but it may be worth stocking up.

 

[Flashback]

Hmm...my trip's not until Dec but it may be worth stocking up.

Highest it's been since I've been here (2.5 years) was .68 and that was during the Olympics. Been hovering around .63-.65 since, so .67 is a good rate!

 

[Pollywaffle]

Highest it's been since I've been here (2.5 years) was .68 and that was during the Olympics. Been hovering around .63-.65 since, so .67 is a good rate!

I'll take a look tomorrow. I haven't bought currency since 2011. I went overboard and had enough to last me through 2 trips. LOL.

 

[markis10]

Big drop overnight, down to 1.03.

 

[cove]

Yes that was Mrscove buying on Friday!
Actually metals are getting trashed so our fairy tale for travellers may change pretty quickly and come to the help of Aussie farmers and manufacturers before they all give up.

 

[vetrade]

Read an article yesterday which quoted that Societe Generale researchers say that the gold price (prior to the falls over the last 2 days anyway) implied a US inflation rate of 45% per annum for the next 5 years i.e. totally unrealistic since US inflation has been below 4% since 2008. So, looking at gold as an inflation hedge a correction was in order as the prices were unsustainable.

Given the approx $US200 drop in gold prices in the last day or so it's not surprising the $AUD has taken a hit too.........and they're sure to keep jumping around for a while yet while the hedge funds that were caught out scramble to get their money back.

 

[JohnK]

I am going away in a few days so expect the AUD to bounce back very soon....

 

[codash1099]

I am going away in a few days so expect the AUD to bounce back very soon....

I have yet to pay a significant New York hotel bill, so expect the dollar to crash immediately before I do, and rebound strongly shortly thereafter.

 

[cove]

If you could predict currencies you could trade them for one month and have enough money to retire a month later. I still remember settling a hotel bill in Chicago with the exchange rate at sub 50 cents so the room was $600 a night at the conference rate.
The last couple of years have been wonderful for Aussies with our currency buying so much for so few Aussie dollars.

 

[whatmeworry]

Aussie dollar back up to $1.04.

 

[Flashback]

The GBP vs AUD has taken a bit of a beating! That being said, it's still slightly above what it was when I moved here.