What's your prediction on the Australian Dollar?

drsmithy said:
Where in the US ?

I worked for a US company for nearly six years and spent two of those living in Scottsdale - I've never even heard of this happening, nor have any of my American friends ever suggested paying cash to get a lower price (and given the yanks' obsession with the price of gas...).
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Many different service stations (different chains) in these states:

Utah, Wyoming, Colarado, Montana

I've been in the US now over 40 days and driven more than 5000 miles and I can tell you this is very common and well advertised at point of sale.

Perhaps your friends have lots of money and don't seek out discounts?
 
It is looking like the $AUD has peaked out for the moment. Our currency tends to overshoot what is deemed fair value both on the high side and the low side. UBS say 80 cents is an overshoot.
 
I dived in and bought 5k at 80 cents. I thought it represented good value. If the Aussie strengthens I'll buy more. If it falls, I've got enough in the sky rocket for my next two holidays and probably more.
 
Is there anywhere in Brisbane one can get close to mid market rate without the ridiculous commission?
 
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JohnK said:
Is there anywhere in Brisbane one can get close to mid market rate without the ridiculous commission?
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Try UAE Currency Exchange (they seem to have an outlet in Brisbane). In melbourne their shop sells for about a 1c difference over the mid-market rate. The shop is pretty bare bones basic... a counter, security glass and a cash-counting machine. but the queues go out the door.
 
MEL_Traveller said:
Try UAE Currency Exchange (they seem to have an outlet in Brisbane). In melbourne their shop sells for about a 1c difference over the mid-market rate. The shop is pretty bare bones basic... a counter, security glass and a cash-counting machine. but the queues go out the door.
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I have also started using this business now - they don't carry lots of cash so it pays to call up and try and put an order in. I think their key business is currency transfers.
 
MEL_Traveller said:
Try UAE Currency Exchange (they seem to have an outlet in Brisbane). In melbourne their shop sells for about a 1c difference over the mid-market rate. The shop is pretty bare bones basic... a counter, security glass and a cash-counting machine. but the queues go out the door.
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I'll try during week. If I can get close to 80c might be worth a go.

Ideally I'd love THB but exchanges in Australia make a killing out of the THB. 8%-10% commission on exchange is about the best I have seen.
 
JohnK said:
I'll try during week. If I can get close to 80c might be worth a go.

Ideally I'd love THB but exchanges in Australia make a killing out of the THB. 8%-10% commission on exchange is about the best I have seen.
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According to their website they're offering 25.59 on the buy rate at the moment compared to mid-market 26.67, so about 4%. On USD it's 78.47 against .80, so around 2%. And they have no additional charges or exchange fees on that.
 
JohnK said:
Ideally I'd love THB but exchanges in Australia make a killing out of the THB. 8%-10% commission on exchange is about the best I have seen.
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Why not open a Thai bank account and use one of the P2P exchange services?
I usually get within 1% to 2% of the XE mid-market rate.
All done on-line and you can get your THB from an ATM for little or no fee.
 
Happy Trails said:
Why not open a Thai bank account and use one of the P2P exchange services?
I usually get within 1% to 2% of the XE mid-market rate.
All done on-line and you can get your THB from an ATM for little or no fee.
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We have Thai bank accounts but in my experience they charge a percentage when transferring money. I can get within .25 mid-market rate in Thailand and don't mind carrying cash.

The reason I was looking at buying USD here was to lock in a better rate for the AUD. The current THB exchange of 26.68 is not that good.
 
Euro 0.67 and USD 0.80 never seen them so far apart !
 
The $AUD is now slipping. This morning it is below 0.78 against the US dollar and looking weak.
Mrs Cove got some US dollars at 0.7850 for delivery today so I am thinking she may be a guru.
 
I wish analysts were someway tied into their predictions, like having money on the line. Especially in my industry of metals you see so many people talking things up knowing that it will not happen, it would be nice if it was their own money.
 

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