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Aus dollar V Euro..advice needed

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  • 04-11-2017 10:21pm
    #1
    Lara_Croft.ie
    Registered Users Posts: 80 ✭✭


    Hi Guys...

    I have moved back to Ireland after working in Australia. I have a savings account still active and i am now deciding i should close it and transfer the money back home. I am just wondering about:

    1. Will the Aus Dollar get stronger or weaker against the Euro in the next few months? Currently it is 1 AUD = .66 Cents EUR

    2. What is the best way to transfer my money home to Ireland? I have looked into Currency Fair but i am finding it difficult to register with them as i have two home addresses and they need alot of proof of just one address...i.e. my passport would be a different address to the address my bills are sent too....

    Hope to hear from you soon! Thanks


Comments

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    #2
    Buttons1916
    Registered Users Posts: 1 ✭Buttons1916


    Need some advice on this also...Doesn't seem like AUD dollar will be getting sronger anytime soon??


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    #3
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    OP if you can't prove your address then you won't be able to use any official currency broker. Of course you could resort to "alternative" options but these may lack in consumer protection.


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    #4
    Neon_Lights
    Registered Users Posts: 1,426 ✭✭✭Neon_Lights


    I would speculate that there will be a financial crisis in Europe sometime in the near future


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    #5
    Heres Johnny
    Closed Accounts Posts: 2,738 ✭✭✭Heres Johnny


    Nobody will know the future FX rate really. All available information is, in theory, reflected in the current rate. Unless someone knows something that market traders the world over don't know, you would be as well off just transferring it now.
    You can of course speculate either way but that's all it Is, blind speculation.
    Depends on how badly you need all the money. 2 reasonably solid currencies though I can't see massive swings either way.


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    #6
    peter05
    Registered Users Posts: 334 ✭✭peter05


    Last four years it has fallen. It tends to pickup for a couple of months every year. It's value has dipped recently........


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    #7
    Peregrinus
    Registered Users Posts: 26,511 ✭✭✭✭Peregrinus


    People who can reliably predict future exchange rate movements do not post on Boards. They are far too busy managing their squillions and squillions of dollars from their tax haven paradise.

    If you expect eventually to spend the money in Ireland, in euros, but you keep your savings in Australian dollars, you're taking a risk. It's a risk that could work out well for you, or badly. No-one can reliably tell you which way it will work out, so do not make this decision on the basis that you know, or can know, whether you will gain or lose by it. Instead you should make this decision on the basis that the possibility of a gain is sufficiently attractive to you that you will also accept the possibility of a loss.


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