Ausvisitor Posted March 8, 2022 Share Posted March 8, 2022 Well the pound has lost 10c against the dollar in the time I've been here (1.89 when I got here 3 weeks ago, 1.79 today) I changed over £15k on arrival but was waiting until bank accounts and rental setup (all done now) before changing anymore. Anyone got any inkling as to why it dropped so fast (I guess war, but that affects everyone) Quote Link to comment Share on other sites More sharing options...
ramot Posted March 8, 2022 Share Posted March 8, 2022 14 minutes ago, Ausvisitor said: Well the pound has lost 10c against the dollar in the time I've been here (1.89 when I got here 3 weeks ago, 1.79 today) I changed over £15k on arrival but was waiting until bank accounts and rental setup (all done now) before changing anymore. Anyone got any inkling as to why it dropped so fast (I guess war, but that affects everyone) I Can’t answer, but when we arrived in January 2003 the exchange rate was about $3 to the pound, I can’t remember how much or why , but there was a fair drop before we wanted to transfer funds to buy our house in late March, it certainly made an unexpected/unwelcome difference to the amount we received transferring a large amount. Quote Link to comment Share on other sites More sharing options...
DIG85 Posted March 8, 2022 Share Posted March 8, 2022 Demand for commodities has driven up demand for the Aussie dollar, leading to it strengthening. 1 Quote Link to comment Share on other sites More sharing options...
Ausvisitor Posted March 8, 2022 Author Share Posted March 8, 2022 Thanks Quote Link to comment Share on other sites More sharing options...
Parley Posted March 8, 2022 Share Posted March 8, 2022 (edited) I think the underlying cause or trigger for the recent moves is the Russian invasion of Ukraine. If it is over quickly in a week or two then oil should drop and things may revert towards where they were. If it keeps going or gets bigger and worse, who knows. A recession in Europe and to a lesser extent the US may eventuate. Also we could be paying $3 a litre for petrol by the middle of the year. Edited March 8, 2022 by Parley Quote Link to comment Share on other sites More sharing options...
Bobj Posted March 8, 2022 Share Posted March 8, 2022 Yesterday's quote was $1Aus = 56P Cheers, Bobj. Quote Link to comment Share on other sites More sharing options...
can1983 Posted March 8, 2022 Share Posted March 8, 2022 The rate is what the rate was my philosophy. When we moved our life savings were moved at 1.70, a year afterwards we could have got 2.00. we missed out on over $50k But it allowed us to buy a house to make a home and with silly house prices that 'loss' has been offset a few times over since. The long term average is 1.70 so id move what you need when you need it. Quote Link to comment Share on other sites More sharing options...
DrDougster Posted March 9, 2022 Share Posted March 9, 2022 Because we've got the best coal in the world! (Puts head in hands) Almost certain to keep going I'd have thought as there are lots of things that will no longer be bought from Russia that may be bought from Australia. Quote Link to comment Share on other sites More sharing options...
Ken Posted March 10, 2022 Share Posted March 10, 2022 On 09/03/2022 at 12:08, DrDougster said: Because we've got the best coal in the world! (Puts head in hands) Almost certain to keep going I'd have thought as there are lots of things that will no longer be bought from Russia that may be bought from Australia. Yes, it's not just the mineral exports, Australian wheat farmers are going to do well out of this. 1 Quote Link to comment Share on other sites More sharing options...
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