Guest earlswood Posted October 7, 2008 Posted October 7, 2008 What is going on in the world:no:first the dollar gains against the pound....then I read this.....can anyone explain? THE Australian dollar yesterday collapsed to a 2 1/2-year low, suffering one of the worst falls since it was floated on international currency markets in the early 1980s, as fears grew that a global recession would end the commodities boom. The Reserve Bank's surprising move to slash the official interest rate by one percentage point did little to reverse the negative sentiment towards the currency. The rate cut spurred short-term momentum in the stock market, leaving the S&P/ASX200 78.3 points higher at 4618.6. Fear of recession forces down Australian dollar | The Australian
Guest erinfay Posted October 7, 2008 Posted October 7, 2008 In a word no.....:cute: but I am interested too to know what this means Erinfay
amandak Posted October 7, 2008 Posted October 7, 2008 erinfay I had a phone from a money exchange today and hetold me what a good day to change your money. eg. if I had £100,000 and exchanged today I would have gotten $247,000. As I decided to start the visa process I was offered $2.00 to the £1.00. so today Iwould have made $47,000 extra. God I wish I could have got hold of my money today. Lets hope it stays like this, and does not drop too much. Amanda
Guest GoodersGang Posted October 7, 2008 Posted October 7, 2008 erinfayI had a phone from a money exchange today and hetold me what a good day to change your money. eg. if I had £100,000 and exchanged today I would have gotten $247,000. As I decided to start the visa process I was offered $2.00 to the £1.00. so today Iwould have made $47,000 extra. God I wish I could have got hold of my money today. Lets hope it stays like this, and does not drop too much. Amanda Wow 2.47 who are you using sounds vgood???:jiggy: Regards, Steve
Guest Scamp1976 Posted October 7, 2008 Posted October 7, 2008 It's got to do with the RBA lowering interest rates by 100 basis points. Also , it's got to do with the commodity industry collapsing ( mining etc ) Also, it's got to do with recession looming in Australia and the overpriced houseprices. And some more minor things like hedgefunds and the european problems and the asian markets crashing.
joetrac Posted October 7, 2008 Posted October 7, 2008 :arghh: Just as Im about to exchange my Dollars to pounds...ah well if you never had it it was never really yours.
Guest Guest9973 Posted October 7, 2008 Posted October 7, 2008 What is going on in the world:no:first the dollar gains against the pound....then I read this.....can anyone explain? THE Australian dollar yesterday collapsed to a 2 1/2-year low, suffering one of the worst falls since it was floated on international currency markets in the early 1980s, as fears grew that a global recession would end the commodities boom. The Reserve Bank's surprising move to slash the official interest rate by one percentage point did little to reverse the negative sentiment towards the currency. The rate cut spurred short-term momentum in the stock market, leaving the S&P/ASX200 78.3 points higher at 4618.6. Fear of recession forces down Australian dollar | The Australian Great for those settling here,bad for you going back:biglaugh:
Recommended Posts
Archived
This topic is now archived and is closed to further replies.