Guest Tom the Pom Posted October 30, 2007 Share Posted October 30, 2007 I've been watching the GBP - AUD exchange rates for a while now and thigs seem to be going from bad to worse! Check out the graph on here!!! Exchange Rates Graph (British Pound, Australian Dollar) When will it all end??? Link to comment Share on other sites More sharing options...
Guest Working to fish Posted October 30, 2007 Share Posted October 30, 2007 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: Link to comment Share on other sites More sharing options...
Guest Tom the Pom Posted October 30, 2007 Share Posted October 30, 2007 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. Link to comment Share on other sites More sharing options...
Guest Liam Posted October 30, 2007 Share Posted October 30, 2007 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 Link to comment Share on other sites More sharing options...
Guest kazzy01 Posted October 30, 2007 Share Posted October 30, 2007 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 $2.35 to the pound on most trips, just seems to have dipped at the moment. Link to comment Share on other sites More sharing options...
Guest Tom the Pom Posted October 31, 2007 Share Posted October 31, 2007 the AS$: 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 $2.35 to the pound on most trips, just seems to have dipped at the moment. I beg to differ - it was at 2.52 mid August Link to comment Share on other sites More sharing options...
The Broughtons Posted October 31, 2007 Share Posted October 31, 2007 the AS$: 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! Link to comment Share on other sites More sharing options...
calNgary Posted October 31, 2007 Share Posted October 31, 2007 We also exchanged at top 2.40's to 2.50 when we transferred last year ,,just waiting and hoping for it to creep up before i bring my last bit !!!! Cal x Link to comment Share on other sites More sharing options...
Guest The Greens Posted October 31, 2007 Share Posted October 31, 2007 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: Link to comment Share on other sites More sharing options...
Guest Tom the Pom Posted October 31, 2007 Share Posted October 31, 2007 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. Link to comment Share on other sites More sharing options...
buckbuchanan Posted October 31, 2007 Share Posted October 31, 2007 We have setup something with the Commercial Bank where we can tell them only to transfer the cash when the rate hits a certain amount. Would it be safe to ask them to set that amount to 2.50? Is that likely to come around in the next 12 months? Link to comment Share on other sites More sharing options...
Guest maxxangel Posted October 31, 2007 Share Posted October 31, 2007 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. Link to comment Share on other sites More sharing options...
keily Posted October 31, 2007 Share Posted October 31, 2007 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 !!! Link to comment Share on other sites More sharing options...
Guest Graham&kym Posted November 5, 2007 Share Posted November 5, 2007 Yep 2.59 at the end of aug thro Hifx, it will bounce back (I hope) give it time... Link to comment Share on other sites More sharing options...
Guest Tom the Pom Posted November 29, 2007 Share Posted November 29, 2007 Still holding steady!!! Link to comment Share on other sites More sharing options...
Guest Tom the Pom Posted December 23, 2007 Share Posted December 23, 2007 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. Link to comment Share on other sites More sharing options...
Guest Working to fish Posted December 23, 2007 Share Posted December 23, 2007 It got to 2.36 on tuesday ,then went down yet again . Hope your right .:jiggy: Eddie:yes: Link to comment Share on other sites More sharing options...
Guest Tom the Pom Posted December 23, 2007 Share Posted December 23, 2007 It got to 2.36 on tuesday ,then went down yet again .Hope your right .:jiggy: Eddie:yes: WATCH THIS SPACE!!!!!!!!!!:cute: Link to comment Share on other sites More sharing options...
Guest Working to fish Posted December 24, 2007 Share Posted December 24, 2007 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: Link to comment Share on other sites More sharing options...
Guest The Greens Posted December 24, 2007 Share Posted December 24, 2007 If my predictions are correct Jan/Feb shpuld be a good time to exchange. Hopefully around 2.4 - 2.5 AUD/GBPThere 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. Promise. Cheers, EMMY Link to comment Share on other sites More sharing options...
Life on easy street Posted December 25, 2007 Share Posted December 25, 2007 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. 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. Link to comment Share on other sites More sharing options...
Guest tomo Posted December 28, 2007 Share Posted December 28, 2007 Hi guysToday 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 Link to comment Share on other sites More sharing options...
Guest Tom the Pom Posted December 28, 2007 Share Posted December 28, 2007 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!!! Link to comment Share on other sites More sharing options...
Guest Working to fish Posted December 29, 2007 Share Posted December 29, 2007 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. Link to comment Share on other sites More sharing options...
Guest windsor Posted December 29, 2007 Share Posted December 29, 2007 Not only is that bad but news say's that house prices have dropped again.. ARGH!!!!:arghh: Link to comment Share on other sites More sharing options...
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