Foreign Currency

[dave44]

Hi all,

 

I'm definitely moving back to UK after being in Perth for 18 months.

My wife never settled as she tried her best to find a job in Learning Disability but not been lucky. We've been constantly comparing lifestyle and cost of living and concluded Uk is the most preferred.

 

We had quite a good deposit and we have not been able to own our own house here.

Now the difficult decision is when to move our house deposit money back since the rate has changed a lot. From £1 = $1.55 to £1 = $1.80.

 

How are you all doing on this one?

 

Cheers

Dave

[scuffythetugboat]

Hi Dave,

 

It is what it is as they say here so change your money and get on with your life is my advice. When people come out here to live it's very often the first time they experience changing money on an industrial scale as opposed to holiday cash. Waiting for the exchange rate to improve which may not happen and it could get worse from your perspective may cost you more money. 67p for the dollar was a good rate a while ago and 54p is not too bad either at the moment. There's always a possibility that it could fall further if the UK puts up interest rates soon. Best of luck with the move.

[wakeboard1980]

Change it now, it's only gone one way in the past 2 years.

[pilotg2]

No one has a crystal ball, so ultimately it's your decision, but the pound is very likely to get stronger as interest rates rise and positive news continues to flow. I believe in Aus they still think the dollar is too high, huge amount of debt so I doubt interest rates will rise before UK rates do.