Guest Brissiebound Posted October 3, 2006 Share Posted October 3, 2006 I have been keeping an eye on the exchange rates and they are absolutely terrific at the moment. I unfortunately have not sold my house yet and it is incredibly frustrating. I have calculated that the difference between todays rate (just over 2.5 and what seems to be the average rate of 2.4 equates to $14k AUD! enough to buy a car!!!! If the rate gets better I may just take the plunge and take a forward contract and stump up the 10%. Anyone out there think the rate is going to get better? Steve Link to comment Share on other sites More sharing options...
Guest Tim Posted October 3, 2006 Share Posted October 3, 2006 Looking at the rate over the last year this is the ighest I've seen it so far, when i came over last sept I got $2.39 to the £ and it went as lowas $2.29 earlier this year...so to me it looks favourable. I hope its this good when my house in Glasgow completes later this month andI think I will take the$2.50 on offer...Thankyou :wink: Link to comment Share on other sites More sharing options...
Guest Poppy Posted October 6, 2006 Share Posted October 6, 2006 I have done a forward contract and was quite annoyed because the guy said I could pay 5% deposit which we borrowed and he did a limit order for us, which meant that when the exchange rate hit 2.50 our currency was brought and I did keep asking but what if it goes higher and he said well with the trend of the last 18 months, its not likely! it then went up to around 2.4 and we lost out on over $10,000! In my eyes, it is their job to spot imminent rises and when the computer looked liked it would trigger, I feel he should have called me to say that it would trigger, but do you want me to move it higher as it looks like its moving up! but he didn't, thing is, if they can't spot it with all the info they have access to, then surely anybody can do that job! The whole reason these companies are used is for their knowledge on how to spot factors which effect the strengthening and weakening of currencies! Anyway, what I am saying is be careful, cos at the end of the day I think they used my money to get the highest rate and then just gave me the 2.5 that they persuaded me to do a limit order on! Sorry, I might sound greedy, its not that its just the principal. Of course they have to make money, but they reckon they only make 1% by not giving you the rate published, but 1% less. I might be wrong, but you can't help but wonder! Good luck Link to comment Share on other sites More sharing options...
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