AUD/USD Exchange

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.9133 ATM.

I said before that I would jump in and buy at 90c but I've now decided that I'll wait for parity. I can't say I have a good reason for this but the price seems to be going up and a US recovery doesn't look to be around the corner.
 

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I know noone really knows, but is it actually very likely to reach complete parity, it seemed like last time it was up really high, it struggled to actually get to the 100.00 mark... Has is even happened before?
 
hermaaaaan said:
I know noone really knows, but is it actually very likely to reach complete parity, it seemed like last time it was up really high, it struggled to actually get to the 100.00 mark... Has is even happened before?
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Not since the currency was floated.

In the pre-83 days it has been above US$1...
 
Eagle87 said:
Not since the currency was floated.

In the pre-83 days it has been above US$1...
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Now being a man of the world, much moreso than I these days, and generally well read on most subjects would you care to advise me as to where is the best place or the best way to buy some US Dollars. Of course I am in your favourite City, Perth.
 
Ted38 said:
Now being a man of the world, much moreso than I these days, and generally well read on most subjects would you care to advise me as to where is the best place or the best way to buy some US Dollars. Of course I am in your favourite City, Perth.
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Not sure Ted. Perth (Australia generally) is not a great place for the average punter to buy foreign currency. The margins (+ fees) charged by banks and agencies are typically very high compared with dealers in countries to our North.

Why do you need them and are you passing through Asia on the way?
 
Eagle87 said:
Not sure Ted. Perth (Australia generally) is not a great place for the average punter to buy foreign currency. The margins (+ fees) charged by banks and agencies are typically very high compared with dealers in countries to our North.
Why do you need them and are you passing through Asia on the way?
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Yes you are right re the margins/fees, it seems the average with the banks is around 3c below the going rate.
I dont need them for anything specific just thought I would grab some while they are good value and for future use.
Unfortunately I wont be in Asia again until late January so it looks like I will have to trundle off to my friendly Westpac.
Thanks anyway.
 

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Would this work;

deposit money into paypal account, and convert it to USD so then when the dollar goes back down I have got more USD in there vs AUD than I would if I paid just using my paypal linked card, for when I purchase things of eBay USA
 
like a bloody rollercoaster! 92.59 now

Something has come up and I need some advice.

I have about 150k that I want to convert to USD at some point, then desposit in a foreign currency account. Where should I get such an amount converted? Where should I then keep the USD? HSBC? Citibank? And can I earn decent interest on the USD?
 
red+black said:
Something has come up and I need some advice.

I have about 150k that I want to convert to USD at some point, then desposit in a foreign currency account. Where should I get such an amount converted? Where should I then keep the USD? HSBC? Citibank? And can I earn decent interest on the USD?
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Not sure on their interest rates, but if you need the 150K in one lump sum down the road, it might be easier just to keep it here and hedge using futures.
 
92c atm, oil is up to $78 lukily the aus dollar is offsetting this. I can't wait for the day that US consumers have to pay aussies more on ebay.:D
 
red+black said:
like a bloody rollercoaster! 92.59 now

Something has come up and I need some advice.

I have about 150k that I want to convert to USD at some point, then desposit in a foreign currency account. Where should I get such an amount converted? Where should I then keep the USD? HSBC? Citibank? And can I earn decent interest on the USD?
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Ozforex. I have a large amount of Thai baht that i need converted to AUD and it looks like the will save me atleast $60,000 more then any of the banks i got quotes from.
 
What will an interest rate rise on Tuesday do to the $AU. I leave for the states in a month so I want to know when is the best time to load up my card. Now or after the rate rise?
 
Rory said:
What will an interest rate rise on Tuesday do to the $AU. I leave for the states in a month so I want to know when is the best time to load up my card. Now or after the rate rise?
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Given the rate rise has been almost universally predicted, probably nothing.
 
DeanoT said:
Depends on the size of the increase. I think a 1/4% move is priced in, if the increase is any higher, we should see another move up.
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Yeah, was a lazy response by me. :)

That said, I think it's unlikely that we'll see anything other than a 25 basis point rise, which shouldn't have much impact.

In general though Rory, the higher our interest rates compared with the US, the stronger our currency.
 
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