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AUD/USD Exchange

  • Thread starter Thread starter Andyroo
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Andyroo

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Hi all,
I'm heading overseas in the middle of the year and need to buy US dollars. Wondering if people could recommend whether to buy now/soon or wait til just before I leave (June)?

Thanks.
 
Andyroo said:
Hi all,
I'm heading overseas in the middle of the year and need to buy US dollars. Wondering if people could recommend whether to buy now/soon or wait til just before I leave (June)?

Thanks.
Click to expand...
Buy at June/July 2008
:(
Well
the aussie dollar doesnt look like it'll increase by that much anymore, seeing as we are in recession and have a huge as debt from that stimulus package thing
 
There's no way of knowing, it's not too bad right now is it? Last time I checked our dollar was worth about 70 cents in the US so that could be your best bet.
 

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DeadlyAkkuret said:
There's no way of knowing, it's not too bad right now is it? Last time I checked our dollar was worth about 70 cents in the US so that could be your best bet.
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Over 75c actually

http://business.theage.com.au/busin...e-75-us-cents-on-jobs-data-20090507-avmu.html

The mid 60s we have seen in recent times is as unsustainable as the mid 90s we saw last year. The Australian dollar is back where it usually is, and historically, where it tends to be most comfortable.
 
damn not good for me, ive left US dollars in a betting company, and it has taken me 3 weeks to withdraw the funds. Company kept asking me for ID , details, going to lose more than I anticipated. (price has gone up about 5 cents since I deposited)
 
Karl Pilkington said:
Good time to get on now, cracked 80 cents today
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... has bounced around there for a few days now. As someone who travels in SE Asia - with many currencies pegged, either formally or informally, to the US dollar - its been an interesting 12 months.

We were at 98 cents a year ago which got me about 32 Thai Baht, 3.00 Malaysian Ringgit and about $1.30 Singapore.

Then 6 months ago those rates (with the $A around 60 cents US) we were at 20 Thai Baht, 2.20 RM and 96 cents Singapore.

Right now its 80.5 cents US and 28 Baht, 2.80 RM and 1.16 Sing.

Its been an interesting ride.

Any of the currency guys out there can explain whats going on?
 
I have never been overseas before but am looking to maybe end of this year.

Can someone tell me sometimes I see 'Foreign Exchange' stores. Can we exchange money for Australian dollars? (Based on the current market exchange rate) And also is there a fee involved?
 
Subaru Impreza said:
I have never been overseas before but am looking to maybe end of this year.

Can someone tell me sometimes I see 'Foreign Exchange' stores. Can we exchange money for Australian dollars? (Based on the current market exchange rate) And also is there a fee involved?
Click to expand...

In my experience changing money in Australia is bloody expensive relative to the costs in other places, although Europe certainly isnt.

There are 2 ways in which the Foreign Currency dealers make money form you, they sell you money at different rates to what they buy it back AND they sometimes charge a flat fee per transaction as well - which can be a major percentage cost if you are changing small amounts.

The "buy" "sell" prices are often massively uncompetitive in Australia and just a fee gouge, they are generally bad in international airports wherever you are.

The current exchange rate between the $A and the $US is 81 cents. If I went in to buy US dollars at Travelex, I would currently (right this minute) pay 87 cents (Aussie) per dollar (travelexs US site)... and in reverse, I would get 78 cents for every US$.... thats how they make money.

In my experience, the rate I get is more competitive just by using cash advances on my Visa card but you need to check the bank fees attached.
 
Eagle87 said:
In my experience changing money in Australia is bloody expensive relative to the costs in other places, although Europe certainly isnt.

There are 2 ways in which the Foreign Currency dealers make money form you, they sell you money at different rates to what they buy it back AND they sometimes charge a flat fee per transaction as well - which can be a major percentage cost if you are changing small amounts.

The "buy" "sell" prices are often massively uncompetitive in Australia and just a fee gouge, they are generally bad in international airports wherever you are.

The current exchange rate between the $A and the $US is 81 cents. If I went in to buy US dollars at Travelex, I would currently (right this minute) pay 87 cents (Aussie) per dollar (travelexs US site)... and in reverse, I would get 78 cents for every US$.... thats how they make money.

In my experience, the rate I get is more competitive just by using cash advances on my Visa card but you need to check the bank fees attached.
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Someone advised me a cheap way, is to go to major banks in overseas countries to get the best rate. Agree with that? whats your advice
 
Gone up 15 cents since I got back from the US, ****! Same thing happened the time before, I returned at it went up to .98!

:mad:
 
I bought at 0.94 and went to the US for 6 weeks last year.

And I'm considering going back in October. 80-85c would be good.
 

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Thanks for the replies guys. Have held off (luckily), and as the direction for the dollar seems all positive at the moment I'll buy if it hits 83c, or just before I leave.
 

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DeadlyAkkuret said:
Gone up 15 cents since I got back from the US, ****! Same thing happened the time before, I returned at it went up to .98!

:mad:
Click to expand...

Looks like we both went over around the same time last year and this year. Plus...a few other similarities we have :p

Down to about $0.7845 now...a little unpredictable, but hopefully will hit 80 again soon and at least remain steady for awhile.
 
A little over 81c at the moment. I already have about USD 4500 and will probably head over in October for 3 weeks.

Wouldn't hurt if it got to 85c though, might get me some more benjamins.
 
Subaru Impreza said:
Someone advised me a cheap way, is to go to major banks in overseas countries to get the best rate. Agree with that? whats your advice
Click to expand...

Yeah I tried that in the US..had about AUD$1000 I wanted to swap over to USD. Each of the 5 or 6 banks I went in to told me I had to open a US bank account with them before they would swap it...very frustrating. Ended up finding a foreign exchange place - kinda like our typical Travelex and swapped it there. They are not easy to find like they are here...

The other option we had was do it in our hotel but that is an option of absolute last resort - very poor rates. I always just use my Debit Visa - always find the rates the best and my fees are not significant at all.
 
All over the shop the last few days. Down to 79.2

I've been reading a bit recently on it (as I'm about to convert a fair amount of AUD into GBP and USD) and it appears that we're driven by our resources sector. What's making it jump up and down so suddenly recently?


Also appears that most currency media representatives from the major banks change their mid/long term forecasts every second day.
 
Take it for what its worth as I dont think anyone really knows but the experts are saying that the highest it will get the rest of the year will be 85 cents and the lowest 71 cents but will mostly stick around 80, so as soon as it gets close to 85 cents I would buy up.
 

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