Quote:
Originally Posted by spock
Thanks for your help everyone. Isn't it the case that the poor exchange rate is to do with Britain's economic troubles, including the housing market, and when that picks up the rate will improve again?
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The sad fact is and it's bad timing for anyone exchanging money at the moment is that not only is our economy in a dip (understatment of the year) and our property market is in turmoil. But to make things extra difficult is the fact that the Australian economy is absolutely booming and is at an 11 year high! Ironically emigration is one factor that is helping the Oz economy but another is the fact that Oz is very rich in minerals and other commodities that a developing China is buying from them.
There is however light at the end of the tunnel (I'm ever the optimist) as surely the Oz boom can't continue forever as we all know how that story could end!?
Sit tight if you can and ride this one out for a wee bit longer me thinks.
Steve.