Guest al&nic Posted September 9, 2008 Share Posted September 9, 2008 Hi all, Just had a rate alert to say the GBP/AUD rate opened today at a 5-month high of 2.1900. In volatile trade this morning, it briefly touched 2.2000! That's a 7.5% increase on 7 weeks ago. Link to comment Share on other sites More sharing options...
Lynandsean Posted September 10, 2008 Share Posted September 10, 2008 If this helps, this is the text of an email I received this morning from a currency transfer company Just a short note to let you know that the GBP/AUD rate opened today at a 5-month high of 2.1900. In volatile trade this morning, it briefly touched 2.2000. This represents an appreciation of 7.5 per cent compared to just seven weeks ago on July 23, 2008 when it was trading at 2.0470. The recent low was 2.0298 on June 4, 2008. The Australian Dollar has weakened significantly due to a strong U.S. Dollar and an end to the tightening cycle in official interest rates. Last Tuesday, The Reserve Bank of Australia cut interest rates for the first time in 7 years by 25 basis points to 7.00 per cent and has more than hinted at lower rates in a recent statement saying “with domestic demand slowing, the Board’s view is that scope to move towards a less restrictive stance of monetary policy in the period ahead is increasing”. Financial markets have taken the view that further moves down in interest rates are imminent. The Pound could gain more strength against the Aussie from here but there is significant volatility and renewed weakness cannot be discounted. Lyn Link to comment Share on other sites More sharing options...
Guest alan_blue Posted September 10, 2008 Share Posted September 10, 2008 bad or good news? guess it depends on your situation whether you are taking money with you or sending it back reguallary. i will have to send money back monthly to the uk and the higher the dollar the more it will cost me Link to comment Share on other sites More sharing options...
Guest jewels1356 Posted September 10, 2008 Share Posted September 10, 2008 well i got my fingers xrossed for us all may we hope it goes up up and up lets go back to 2.98 au$ please this would help a lot of people julie xx Link to comment Share on other sites More sharing options...
Guest kdal Posted September 10, 2008 Share Posted September 10, 2008 Things a looking better lets hope it stays there or increases even !! For those that are going to Australia that is. Thanks for the news as havent checked it in a while Link to comment Share on other sites More sharing options...
Guest alan_blue Posted September 11, 2008 Share Posted September 11, 2008 surely its better to be lower if you are sending cash back to the uk? am i wrong? Link to comment Share on other sites More sharing options...
Guest tony and sheena Posted September 11, 2008 Share Posted September 11, 2008 A bit of good news, at last. Let's hope it keeps up! Sheena Link to comment Share on other sites More sharing options...
Guest Zagg Posted September 11, 2008 Share Posted September 11, 2008 I rang OzForex and HiFX to get some rates to transfer some money today and got a rate of 2.1879 for exchanging £7000. Link to comment Share on other sites More sharing options...
Jo&Rich Posted September 11, 2008 Share Posted September 11, 2008 Need to change my sterling over too; been at $2.2132 to the pound at one stage tonight:jiggy:Be keeping an eye on it tomorrow! Link to comment Share on other sites More sharing options...
Guest alan_blue Posted September 11, 2008 Share Posted September 11, 2008 bump to my question? Link to comment Share on other sites More sharing options...
Jo&Rich Posted September 11, 2008 Share Posted September 11, 2008 surely its better to be lower if you are sending cash back to the uk? am i wrong? Yes, if you are sending money to the UK, it is better for the pound to be lower against the dollar for that purpose. Link to comment Share on other sites More sharing options...
Guest chris_mac Posted September 11, 2008 Share Posted September 11, 2008 Hi guys, great thread, looking to open a bank account and transfer some money... Which is the best bank and what rate would be good to exchange... am i being greedy holding out for it to go higher.. Chris General Electrician Applied TRA Aug 07 TRA Retuned Oct (Skill path D removed) Re-applied Vetassess 01.01.08 Vetassess Paper Assess Passed 10.04.08 House up for sale 28.03.08 sold 14.04.08 (3 weeks, crikey) Vetassess Practical 15.07.08 Practical Passed 11.08.08 176 Visa Application submitted 11.09.08 Link to comment Share on other sites More sharing options...
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