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Exchange rates


Guest Tom the Pom

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Guest Working to fish

Hi guys

Today i phoned hifx to see what the best exchange rate they would give me on exchanging 30 grand, just for a hypothetical number. The best exchange rate he could give me was 2.250/2.3.

I then walked into the HSBC and they offered me 2.180.

So, yeah, very disappointed. If anyone has a magic wand can i borrow it for 10 minutes. Cheers.

 

eddie,tina:no::realmad::sad::sad:

 

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Guest Tom the Pom

It can't stay down for ever - can it???

 

I'm counting on a minimum exchange of 2.5 dollars to the pound - or I won't be able to afford to buy a house/land when I get there.

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As a Financial Planner I get a lot of research and forecasts from a large number of sources and at the moment they all expect the rate against US$ and GBP to get worse before it gets better.

 

Long term the PPP or Purchasing Power of Parity is showing the Aussie Dolar is overvalued by up to 20% or more at the moment. But as long as the US$ and GBP remain weak and the resources boom continues to support the Aussie Economy, the need in Australia will be to increase interest rates to dampen spending (hence making the Aussie Dollar an attractive currency to save in) and this further strenghtened by possible rate cuts in the US tonight.

 

This is just general advice as I am no expert on Currencies and you should get personal advice on your own situation but do not be surprised if the AUD risies another 10% in current markets but be certain that IT WILL NOT STAY THERE...everything returns to its Equilibrium!

 

Don't be afraid to phone the guys at Hifx etc and ask them for opinions but no one can predict with any certainty the future rates. I always err on the side of caution and drip feed money month by month..at least that way you get an average.

 

best of luck

 

Liam

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Guest kazzy01

the AS$: GBP rate has been nowhere near 2.5 for years now, so really don't bank on the rate being anywhere near that. I've travelled to Oz three times in the last few years and the rate has been around $2.35 to the pound on most trips, just seems to have dipped at the moment.

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Guest Tom the Pom
the AS$: GBP rate has been nowhere near 2.5 for years now, so really don't bank on the rate being anywhere near that. I've travelled to Oz three times in the last few years and the rate has been around $2.35 to the pound on most trips, just seems to have dipped at the moment.

 

I beg to differ - it was at 2.52 mid August

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the AS$: GBP rate has been nowhere near 2.5 for years now, so really don't bank on the rate being anywhere near that. I've travelled to Oz three times in the last few years and the rate has been around $2.35 to the pound on most trips, just seems to have dipped at the moment.

 

We secured a rate of $2.47 and another of $2.53 in August!

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Guest The Greens

I leave all the finance to my OH, but check this out. He showed me today just using a calculator and the rate shown on XE.com - The World's Favorite Currency and Foreign Exchange Site that the type of property we are after, in Australia, (nothing grand I assure you) would on todays rate cost us £15,000 more than in August of this year. Just comparing the price unchange in Australia, against the change in the rate of the pound against the Aussie dollar.

 

This has really put the frightners on me, and got me worrying like mad. Tony as usual is unconcened saying it will go back up, but knowing our luck it will drop even further. Anyone got any advice on the best thing to do here.

 

EMMY:skeptical:

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Guest Tom the Pom

If everyone keeps their nerve and don't jump the gun I am sure they will get the rate they desire.

 

It's just a waiting came - it's not tlike the stock exchange where it can go from boom to bust.

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Guest maxxangel

That another thing to put on the list of concerns. I never really thought about how much the exchange rate will affect large conversions. I was expecting to make a smallish exchange to set up an account and then a large one once tha house was sold.

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the AS$: GBP rate has been nowhere near 2.5 for years now, so really don't bank on the rate being anywhere near that. I've travelled to Oz three times in the last few years and the rate has been around $2.35 to the pound on most trips, just seems to have dipped at the moment.

 

WE GOT $2.46 IN FEB !!!

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Guest Tom the Pom

If my predictions are correct Jan/Feb shpuld be a good time to exchange. Hopefully around 2.4 - 2.5 AUD/GBP

There seems to be a 'pattern' that revolves around that time of year - don't shout at me if it doesnt!!!

Like I said it's only a prediction.

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Guest Tom the Pom
It got to 2.36 on tuesday ,then went down yet again .

Hope your right .:jiggy:

 

Eddie:yes:

 

WATCH THIS SPACE!!!!!!!!!!:cute:

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Guest Working to fish
WATCH THIS SPACE!!!!!!!!!!:cute:

OK mate , i will be for sure ,fingers crossed your right .See you reply jan/feb.

eddie

No pressure by the way lol:biglaugh:

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Guest The Greens
If my predictions are correct Jan/Feb shpuld be a good time to exchange. Hopefully around 2.4 - 2.5 AUD/GBP

There seems to be a 'pattern' that revolves around that time of year - don't shout at me if it doesnt!!!

Like I said it's only a prediction.

 

Hi Tom, We are off January 30th, and the advice we have been given by a well clued in University Economics lecturer guy my sister knows is not to hold our breath on a favourable rate change any time before the Summer. We are looking for 2.45, (Currently 2.29).

 

Its all a real kick in the teath, because we planned all our move on buying an apartment based on an exchange of 2.45. We have mow decided to take a longer term rental for 12 months and if the rate gets to 2.45 we are going to transfer all our funds. We have even changed plans and are now selling our UK home, putting it up for sale in April. Its a real worry this low exchange rate, and our source say's that the Aussie $ will not weaken much because of the resource (mining boom) underwriting their economy as opposed to our economy which has been bolstered only by a housing boom, which is flattening out and even dropping. We should also get interest rate cuts in January and again after that throughout 2008 which will devalue our £ more. All this will have to stabalise before we see an improvement. So He says.:wacko:

 

Too complicated for me, I'm just fed up with it all, DON'T LIKE LOSING MONEY like this. But if we are wrong and you are right, I will come and find you personally and give you a Big Big Kiss Tom.bussi.gif Promise.

 

Cheers,

EMMY

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Hi Tom, We are off January 30th, and the advice we have been given by a well clued in University Economics lecturer guy my sister knows is not to hold our breath on a favourable rate change any time before the Summer. We are looking for 2.45, (Currently 2.29).

 

Its all a real kick in the teath, because we planned all our move on buying an apartment based on an exchange of 2.45. We have mow decided to take a longer term rental for 12 months and if the rate gets to 2.45 we are going to transfer all our funds. We have even changed plans and are now selling our UK home, putting it up for sale in April. Its a real worry this low exchange rate, and our source say's that the Aussie $ will not weaken much because of the resource (mining boom) underwriting their economy as opposed to our economy which has been bolstered only by a housing boom, which is flattening out and even dropping. We should also get interest rate cuts in January and again after that throughout 2008 which will devalue our £ more. All this will have to stabalise before we see an improvement. So He says.:wacko:

 

Too complicated for me, I'm just fed up with it all, DON'T LIKE LOSING MONEY like this. But if we are wrong and you are right, I will come and find you personally and give you a Big Big Kiss Tom.bussi.gif Promise.

 

Cheers,

EMMY

 

I agree with this Economics lecturer

 

The U.K always lowers intrest rates / devalues the pound when the economy starts to slow down.

 

 

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Hi guys

Today i phoned hifx to see what the best exchange rate they would give me on exchanging 30 grand, just for a hypothetical number. The best exchange rate he could give me was 2.250/2.3.

I then walked into the HSBC and they offered me 2.180.

So, yeah, very disappointed. If anyone has a magic wand can i borrow it for 10 minutes. Cheers.

 

eddie,tina:no::realmad::sad::sad:

 

HI EDD AND FAMILY YOU R FLYING OUT SOON ??? 29 TH ?

HOW HAVE U GONE ON EXCHANGEING CASH ,

ITS A BIT LIKE WAITING FOR A CAR CRASH !!!

SPEAK TO U SOON MATE

FROM TOMO

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Guest Tom the Pom

Hold steady everyone!!!

 

It's just about hit the bottom of the curve and the only way is up - Get New Year out of the way and watch it rise!!!

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Guest Working to fish
HI EDD AND FAMILY YOU R FLYING OUT SOON ??? 29 TH ?

HOW HAVE U GONE ON EXCHANGEING CASH ,

ITS A BIT LIKE WAITING FOR A CAR CRASH !!!

SPEAK TO U SOON MATE

FROM TOMO

 

 

Hi Tomo we are holding off at the mo, like tom said its going to go up i am sure of that ,but by how much if only i new .What with the way things are going at the moment here i dont think its looking good for us tho.

:nah::nah:

Eddie,tina

 

still holding tom.

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