Currency Help

[Fraser]

Hi,

I will be leaving to America for about half a year in about a month. Should I exchange all my money now to USD? Will the AUS dollar weaking in say about 3 months? Any help will be much appreciated!!

thanks

 

[Qsaint]

Hi,

I will be leaving to America for about half a year in about a month. Should I exchange all my money now to USD? Will the AUS dollar weaking in say about 3 months? Any help will be much appreciated!!

thanks

Comsec were predicting the AUssie to hit 85 cents later in the year, I have my doubts I think it will stay around 80 cents or fall. Given the US banks fess and international fund transfer and exchange rates. You would be better focussing on the cost side. Aussie banks fees and rates vary alot and if you are moving anywhere over 10K shop arround. If you are going to work over there and only need to take under 10 K exchange it now. There are private exchanges in SYdney that out do banks, Last year the CBA was by far the best rate and lowest fees.

 

[Fraser]

Thanks. I'll look into exchanging some of it through CBA if they're reasonable. I'm just a bit nervous that our dollar will weakin to around 70c.

 

[Kurt Angle ©]

If you suspect a move in Currency, buy some currency futures.

 

[jim boy]

The Aussie dollar slipped today.

The Australian dollar may strengthen, because the Indian and Chinese economies are booming meaning they have an increased need for raw commodities, which Australia has plenty of, but then the increase in oil prices may mean prohibitive transport costs push down raw commodity prices.

The American dollar may strengthen as because it has dropped so much in value over the past 4 years, American manufacturing may surge ahead as their products are no much more affordable. Or it may continue to decline, again because of oil prices, and also because it's apparent that Bush has not the faintest idea about how to run the economy.

Really though, if people knew that the dollar was going to dip or rise significantly, then they would invest in currency trading and make a packet.