Travelling to USA in Sept - should we buy some US dollars now?

[stryker]

OK blame me.I didnt buy any more US dollars and today I see our dollar now in the 83c. range.
So predictions for the future.Will be leaving the states on 4th october so dollar should rise against US then but fall against the Euro.
Returning to the US on 4th Dec.for 6 weeks.Dont expect any strength in aussie dollar over Christmas,New year period.

0.8233 and falling, as we speak.

If it were me I would stock up big on USD tomorrow (or wait for the stock market to recover).

The Aussie has a long history of plummeting like a stone once conditions change for the worse. Delay at your peril...

 

[serfty]

Last Wednesday I booked an AA YUP online, the net exchange rate used when I paid for the booking in AUD related to an 86.45 crossrate.

I was intending to wait until the next day to ticket it but I did a check on Oz Forex Foreign Exchange which indicated the AUD had dropped 1½¢ since 9am that day already.

By finalising the booking then and there I received the overnight rate ...

 

[stryker]

OK blame me.I didnt buy any more US dollars and today I see our dollar now in the 83c. range.
So predictions for the future.Will be leaving the states on 4th october so dollar should rise against US then but fall against the Euro.
Returning to the US on 4th Dec.for 6 weeks.Dont expect any strength in aussie dollar over Christmas,New year period.

I hope you took my advice. The Aussie is now down to 0.78406 and still falling.

When I saw the Aussie was being routed this morning, I took my own advice and bought some USD TT's at .811. Looks like I've made a profit already.

With the Aussie in free fall (it does happen from time to time), who knows where it will end up? I wouldn't be surprised to see it at USD 0.7 or less by the end of next week.

 

[sparoy]

In hindsight, we consider ourselves very lucky.
We paid 2 DONE4 ex NRT early July when AUD was JPY105, went to Japan and USA for 3 weeks in July when AUD was hovering between 86 cents to just over 88 cents and paid everything with Amex and Visa.
Nothing was prepaid except tickets for 'O' at Bellagio in Vegas. Well, you couldn't just turn up for that always packed Cirque du Soleil show and expect a good seat. It's sold out months in advance.
We couldn't have timed it better ourselves

 

[madduxglav]

We are off to Whistler and the US in April '08 and have purchased foreign currency already, and were lucky to get it when the aussie dollar was US$0.88. Been to the US when it was US$0.50 (equalled a $9 cup of coffee at starbucks!!!) and US$0.70, so I couldn't pass up the opportunity even though our trip is 8 months away.

I don't subscribe to the issues related to conversion fees on credit cards and foreign purchases cause its not going to stop you from travelling. Its safer than carrying cash, so charge when you can.

 

[Febs]

Never thought I'd say this, but I've just bought a few thousand USD traveller's cheques. :shock:

We're already going to be carrying a few thousand USD in cash, and we didn't want to risk carrying more, so we figured traveller's cheques would be the go.

Sure the dollar might go back up (we're leaving in 4 weeks), but it might go down...in which case we'd be kicking ourselves.

(Averaged out, we're sitting on about 81c...which isn't too bad considering we planned the holiday when the dollar was 75c).

Cheers,
- Febs.

 

[Mal]

It's back over 85c now, so it's slowly recovering. Hopefully will keep going up and remain that way until I'm back from the US (November).

 

[simongr]

We need a big push this weekend as I am planning to buy an Ipod Touch in NY on Saturday. What's the chance of an interest rate rise you reckon

 

[littl_flier]

I was only thinking this morning that I should bump this thread.

Given the news out of the US overnight, and the comments from Westpac's cheif economist this morning (didn't mention the currency however), I was wondering whether I should hedge my bets and buy some US$ today? I'm heading over to NYC in November. Also need CAD$ but that's pretty poor at the moment. What do you think?

 

[drron]

It's back over 85c now, so it's slowly recovering. Hopefully will keep going up and remain that way until I'm back from the US (November).[/quote)
Well I leave the US on 4th october and fly back on 5th december so in November you should be apples.

 

[Febs]

Loving it at the moment. I come back to the hotel after using my credit cards, check xe.com and find it's gone up just that little bit more.

Cheers.

 

[littl_flier]

Loving it at the moment. I come back to the hotel after using my credit cards, check xe.com and find it's gone up just that little bit more.

Cheers.

Great to hear Febs, hope you're having a great time.

CBA is selling Cash at 0.8425 today and TT/TC's at 0.8484. Despite the Westpac economis saying this morning it will probably hit 0.86 by the end of the month, I think I might hedge my bets and purchase some today.

With Traveller's Cheques in the US, do places charge a commission or fee to change them into cash?

 

[littl_flier]

Well I did it. Exchange rate was 0.8455 for cash.

Hopefully $500 USD should be enough to get me from the JFK to Times Square with a small tip.

 

[sr81]

Thanks for the heads up littl_flier. Been meaning to get some USD and that CBA cash rate is pretty good.

JFK to Manhattan on $500..... you could always route via ORD and Y-Up!

 

[littl_flier]

Based on the wholesale rate today, I would expect it to be a little higher tomorrow (although CBA has already upped the rate since this morning (0.8425 to 0.8455). Based on the amount I wanted though, my maximum exposure was $5. Not even worth the pain.

JFK to Manhattan on $500..... you could always route via ORD and Y-Up!

Now that's a great idea!!!

 

[simongr]

JFK-Manhattan is a US$45 fixed fare - what sort of a tip are planning to leave? Might be cheaper to book a Town Car

 

[Mal]

With Traveller's Cheques in the US, do places charge a commission or fee to change them into cash?

I have always found them as good as cash. Walk into a store, buy something for $5 and ask if they accept Traveller's Cheques (never had a no yet!). Hand over a Traveller's Cheque. Sign it, show some ID and out you walk with $45 cash.

Never seen charges for encashing, but presume some banks would charge, and the 'cheque cashing'/hole in the wall type finance places could.

 

[littl_flier]

I have always found them as good as cash. Walk into a store, buy something for $5 and ask if they accept Traveller's Cheques (never had a no yet!). Hand over a Traveller's Cheque. Sign it, show some ID and out you walk with $45 cash.

Never seen charges for encashing, but presume some banks would charge, and the 'cheque cashing'/hole in the wall type finance places could.

Thanks Mal, turns out that CBA wanted $12 minimum commission for TC's and $8 for Notes. Being the accountant that I am, I wasn't going to spend $20 to get $200 in TC's and $300 in notes. :shock:

I haven't used TC's since 2001, all the other options are so accessible. I think I'll rely on the CC for this trip, especially with the Earth+ Foreign Currency Fee waiver. (apart from MC) It's only a week in the US and a week in Canada. I can't believe it but the USD and the CAD are almost equal. :shock:

Thanks for the advice though! It's definitely a bit safer than cash but I have a feeling TC's are on the way out.

 

[Febs]

Hopefully $500 USD should be enough to get me from the JFK to Times Square with a small tip.

FWIW, we took a shuttle bus (forget the name, but it was blue) for $16USD. Leaves JFK every 20 minutes, takes a bit under an hour (traffic-dependent), and dropped us off at Grand Central Terminal - about a 10 minute walk from Times Sq (about 2min from our hotel, so it worked out well. ).

Cheers,
- Febs.

 

[alect]

FWIW, we took a shuttle bus (forget the name, but it was blue) for $16USD. Leaves JFK every 20 minutes, takes a bit under an hour (traffic-dependent), and dropped us off at Grand Central Terminal - about a 10 minute walk from Times Sq (about 2min from our hotel, so it worked out well. ).

Cheers,
- Febs.

The Most Departures To Manhattan - New York Airport Service

taken it myself. It's only convenient if you are staying near Grand Central - otherwise you have to schlep to your destination from Grand Central.