oz dollar exchange rate

WOGGET

so i've noticed that the $ has come down a bit over the last week. it used to be $1.98 to the euro and now its $1.93. im going to be in oz for the year from december 18th onwards so i was wondering if there is any way that i can change my savings to dollars now instead of waiting until then when the exchange rate might not be as good. any ideas?

brendansmith

WOGGET wrote: »

so i've noticed that the $ has come down a bit over the last week. it used to be $1.98 to the euro and now its $1.93. im going to be in oz for the year from december 18th onwards so i was wondering if there is any way that i can change my savings to dollars now instead of waiting until then when the exchange rate might not be as good. any ideas?

Ive been monitoring it over the last while because im in the oposite situation as you (goin home from oz to eire for chrimbo)

It was 1$ = .60euro until the world economy began acting the bollix
its has been fluctuating between .48 and .52 ever since however it is currently as i write this 0.518179 EUR and that is its highest more or less in the lest few days.

Monitor it yourself and if it gets to .53 and rising may you should buy then.

PS i have no knowledge of market forces etc etc!

Xavi6

Open your Oz bank account now and transfer the money over?

The_B_Man

tranfer your cash into my irish account tomorrow. I'll take it out of a bank machine over here and ya wont be subject to any bank charges. Then when ya come over, i'll give ya the cash and ya can deposit it in your own account*.

*may be subject to my own 99.9% handling fee.

justfortherecor

I've also been watching the currency pretty closely. Transferred over half my savings two days ago and got a decent rate of $2.02 to the Euro. The dollar has recovered recently and is around $1.92 now but I'm still going to hold off transferring the rest until next week to try and gauge where it will go next

It rebounded this week due to the Japanese yen finally falling against the American dollar and their government saying it would consider dropping the interest rate and also intervene in the market to ensure the Yen didnt appreciate more. This led to a resumption of the 'carry trade' where investors borrow in Japanese Yen and invest in a high yielding currency like the AUS Dollar. Due to market volatility, Aus rate cuts and the appreciating yen though, this carry trade slowed down and led to a major depreciation in the AUS Dollar. (not so much demand for it anymore simply enough).

Anyways, I'm gonna wait til next week to decide whether to transfer over the funds immediately or wait another bit for the AUS dollar to fall. Will have to see whether the latest market rise is just another case of a 'dead cat bounce'.

Australian Reserve Bank is still in a tough spot; whereas the Bank of Japan could theoretically print off all the yen it wanted to try and ensure a yen depreciation, the Australians only have another $31bn of reserves to intervene in the market to try and stop any further rapid falls like we saw in the last few weeks.

So really, its up to you what path you want to choose.

WOGGET

justfortherecor wrote: »

I've also been watching the currency pretty closely. Transferred over half my savings two days ago and got a decent rate of $2.02 to the Euro. The dollar has recovered recently and is around $1.92 now but I'm still going to hold off transferring the rest until next week to try and gauge where it will go next

interesting cheers for that. so how did you transfer your money from euro in dollars? is there an irish bank that will do this for you before you go to oz??

brendansmith

Visa first will set up a bank account for you and giuv you a sim card etc etc, the dollar is making a come back so you might wanna hurry.

The_B_Man

i never got me sim card actually. all i got was the bank account and VISA itself. backstards!

WOGGET

i already have my oz visa though got it through the government website. i presume that there is a fee for opening an account through visa first yes?? are there any australian banks operating in dublin that i could go to directly about opening an account? cheers for the hel everyone!

brendansmith

Oh their sim card for me was the jam in my jelly donut tbh!

They taught me how to unlock my phone also, by unlocking my phone they unlocked my heart!:)

The_B_Man

lol nah i just landed in cairns and bought a sim in the vodafone shop there. had a cheapy phone from thailand that was already unlocked. think i paid them 25euro and all for the sim! I paid them 25 for something anyway, maybe for my TFN.

brendansmith

1.00 AUD

=

0.531087 EUR


Up ya get there ya beaut!

justfortherecor

Reserve Bank of Australia is probably going to announce a rate cut tomorrow of around .5% so that should check the recent strengthening of the Aussie Dollar. These wild fluctuations on markets and currencies are trademarks of bear markets. Pretty much hedge funds and traders covering positions etc.

Expect the Dollar to fall a bit more in the long term. Commodity currencies are being dumped and Australia will surely suffer. Also the number of short contracts on the dollar rose almost 30% last week, signalling speculators still forecast falls in the long term.

At least it better anyways! Got to transfer the rest of my savings over from Ireland for as good a rate as possible!

brendansmith

justfortherecor wrote: »

Reserve Bank of Australia is probably going to announce a rate cut tomorrow of around .5% so that should check the recent strengthening of the Aussie Dollar. These wild fluctuations on markets and currencies are trademarks of bear markets. Pretty much hedge funds and traders covering positions etc.

Expect the Dollar to fall a bit more in the long term. Commodity currencies are being dumped and Australia will surely suffer. Also the number of short contracts on the dollar rose almost 30% last week, signalling speculators still forecast falls in the long term.

At least it better anyways! Got to transfer the rest of my savings over from Ireland for as good a rate as possible!

Emmmm, could you dumb it down a shade for us there!

justfortherecor

Still expect the Dollar to fall a bit more. However, predictions in this market aren't worth a sh*t!

brendansmith

justfortherecor wrote: »

Still expect the Dollar to fall a bit more. However, predictions in this market aren't worth a sh*t!

Perfect!

Me n you are hoping for different thing good sir!
I hope i am the victor.

justfortherecor

May the best man win!

brendansmith

Youre goin down punk!:D

brendansmith

1.00 AUD

=

0.538265 EUR


Oh no, its falling fast!!!

mfield

Whatever you do, don't EVER exchange your cash in the airport. I flew out to Sydney on Monday and I couldn't believe the exchange that my girlfriend got ($1.819 to the Euro). Thankfully it wasn't the life savings . Dirty robbin fuppers!

brendansmith

mfield wrote: »

Whatever you do, don't EVER exchange your cash in the airport. I flew out to Sydney on Monday and I couldn't believe the exchange that my girlfriend got ($1.819 to the Euro). Thankfully it wasn't the life savings . Dirty robbin fuppers!

Shockin int it?

infacta

i changed money here yesterday and got only 1.83 for it now thats a rip fuppers couldnt give me an extra 5 cent to the dollar that would be two nice

WOGGET

right so its dropped to :

1 euro = 0.526 dollars

as of today. does anyone know any websites that can reliably predict the way the dollar's going to go? ive been lookin and i cant find anything!

brendansmith

WOGGET wrote: »

right so its dropped to :

1 euro = 0.526 dollars

as of today. does anyone know any websites that can reliably predict the way the dollar's going to go? ive been lookin and i cant find anything!

HA!

hussey

WOGGET wrote: »

does anyone know any websites that can reliably predict the way the dollar's going to go? ive been lookin and i cant find anything!

and if anyone knows of this website, can you also tell me, which website tells how to turn tin into gold?

Coileach dearg

hussey wrote: »

and if anyone knows of this website, can you also tell me, which website tells how to turn tin into gold?

ooh, I know a good one. http://www.amway.com

Xavi6

hussey wrote: »

and if anyone knows of this website, can you also tell me, which website tells how to turn tin into gold?

I have next week's lotto numbers if you're interested.

WOGGET

ha you'se are all hilarious :rolleyes:

what i meant was are the australian government taking action to try and get the dollar stronger or is it expected to keep falling??

hussey

WOGGET wrote: »

ha you'se are all hilarious :rolleyes:

what i meant was are the australian government taking action to try and get the dollar stronger or is it expected to keep falling??

Now isn't that a lot clearer than
"does anyone know any websites that can reliably predict the way the dollar's going to go?"

The Australian government has actually gone a few things to try to ease the pain, the two big ones is a big interest rate drop and increased (I think doubled) the first home owners grant
http://www.smh.com.au/news/national/24000-for-first-home-buyers/2008/11/07/1225561135936.html

best thing to do is keep reading the business section
http://business.smh.com.au/

I'm not really up on finance but when I compared the Australian plan to Irelands (tax, tax, tax) I am happy to be here

brendansmith

It has really been getting on my boobies lately.
Ive been checking throughout the day and more than once its been at 1 dollar = .535 euro and then the next day gone back down to .525 euro.

Thats all for now folks!

Panda

from xe.com:

1 AUD = 0.518469 EUR

crikey!