australian dollar rate today!

[82rhoads]

Hi, are there many people on here like myself watching the exchange rate at the moment waiting to transfer money over to an oz account?

the rate is at $1.67 at the moment which gets me a rate around £1.64.

How do people feel it's going to move? i'm getting poised to change some....getting twitchy fingers!!

cheers,

Darren

[ROB T]

Hi, are there many people on here like myself watching the exchange rate at the moment waiting to transfer money over to an oz account?

the rate is at $1.67 at the moment which gets me a rate around £1.64.

How do people feel it's going to move? i'm getting poised to change some....getting twitchy fingers!!

cheers,

Darren

 

I shall wait for Australia's next interest rate decision to come through in approx 3 weeks time. A probable 0.25% cut could see rates push through $1.70 which hasn't been seen for some time.

 

I feel that rates could climb even higher as we head towards the back end of the year, or at least I hope so.

[Admin]

I shall wait for Australia's next interest rate decision to come through in approx 3 weeks time. A probable 0.25% cut could see rates push through $1.70 which hasn't been seen for some time.

 

Indeed, about Sept 2008 the last time it hit $1.70 by the looks of it.

 

[82rhoads]

that's a good point. i'm going in a couple of weeks so i'll need to transfer soon. the rate has climed quite fast in the last few days so i'll keep watching.cheers.

[John From Moneycorp]

It is worth exploring the different ways you can buy your currency. They can allow you to take advantage of any favourable exchange rate movements and also protect if the rate moves adversely.

 

More information can be found here - http://moneytransfer.pomsinoz.com/various-ways-to-buy-currency.html

 

Thanks

 

John

Edited July 15, 2013 by John From Moneycorp

[StraighttothePoint]

It is worth exploring the different ways you can buy your currency. They can allow you to take advantage of any favourable exchange rate movements and also protect if the rate moves adversely.

 

More information can be found here - http://moneytransfer.pomsinoz.com/various-ways-to-buy-currency.html

 

Thanks John

 

If Perth is the 11th most exspensive city in the world and the most expensive in Australia does it matter if the dollar drops a bit? Unless people are bringing over very large sums of money then by even getting a few more dollars will they notice a difference? With ever increasing house prices, rental costs, petrol prices, groceries, car costs, utility bills etc. does any extra dollars not just cover additional outgoings. In other words a higher exchange rate may only help people to stand still.

 

If somebody transfers say 40k gbp @ $1.65 = $66k. A few weeks ago it would have been say $1.45 so $58k. I know that is a potential extra of $8k but overall in the grand scheme of things, and thinking on how mush costs are rising, will it in real terms make any real difference? I think my point is that it will need to go a lot more in favour of the pound before it really makes a noticable impact here on the ground. I appreciate $8k seems a lot, especially to some more than others, but is it really?

 

Or am I just havering here John? I take your point folk need to really shop around.

[John From Moneycorp]

Thanks for your message.

 

In relation to money transfers, timing is an important factor – as you highlight, within a few weeks/months the difference in the exchange rate can affect the amount of Australian dollars you receive for your pounds.

 

Clearly it can be dependent on personal circumstances, however getting the best value for your money is an important area. Some are waiting for GBP to become stronger against the AUD and some have decided to buy a portion of their currency at the recent good levels.

Edited July 15, 2013 by John From Moneycorp

[Redsquare]

If somebody transfers say 40k gbp @ $1.65 = $66k. A few weeks ago it would have been say $1.45 so $58k. I know that is a potential extra of $8k but overall in the grand scheme of things, and thinking on how mush costs are rising, will it in real terms make any real difference? I think my point is that it will need to go a lot more in favour of the pound before it really makes a noticable impact here on the ground. I appreciate $8k seems a lot, especially to some more than others, but is it really?

 

 

For people already over there it may not make much difference.

 

I'll be coming over in the next few months and in one respect it will make a very big difference. The recent change in the exchange rate means I'll be able to come over with our planned level of dollars and keep a couple of extra grand in the UK for an emergency.

[StraighttothePoint]

For people already over there it may not make much difference.

 

I'll be coming over in the next few months and in one respect it will make a very big difference. The recent change in the exchange rate means I'll be able to come over with our planned level of dollars and keep a couple of extra grand in the UK for an emergency.

 

Yep good point about being able to leave some cash behind and that is always a good fallback for folk. However I still stand by my main point which is the rate will need to drop a lot more than it has in order to make that much of a difference to people due to the spiralling costs at the Perth end.

[Celts]

I don't think anyone would turn their noses up at getting an extra $8K I know I won't and want every cent I can for my pound

[StraighttothePoint]

Of course you do and of course they would not, but I will keep saying it on this thread that the spiralling costs at the Perth end, will near negate any benefit there is unless the gbp to aud exchange rate goes up and keeps going up to maybe over the $2 mark. Also not everyone will be transferring large sums of GBP's due to their circumstances so the advantage for those folk will be even less. The sums I did are only an example. Perhaps if people take a gamble and bring their entire stash over, and it is in the 100's gbps, then benefit may be noticeable. Is it perhaps that people reading this don't want to believe it?

[oz bound pom]

Here's to hoping that the $1.7 mark can be breached as looking at that graph it's been a bit of a glass ceiling for the last few months, hopefully once it's broken there could be some decent movement past it, at least long enough for me to transfer my money over :-)

 

As for people waiting, the comparison of 1.45 to 1.65 represents just under 14% increase in what someone would be bringing over. Having been over there in April when the rate was trully dire if someone had said would I like 14% extra i'd have bitten their hand off. You need a pretty amazing savings account to give you 14% in 3months.

 

I appreciate the point that is being made and that costs are going up etc, but currency fluctuations happen so quickly that even decent gains (and loses) can be made very quickly, a move from 1.65 to 1.75 would represent 6% increase and could (or may not) happen within a couple of weeks. Even on relatively modest sums this may represent the equivalent of a couple of extra months rent or the cost of flights etc to some people, so as long as we are talking short term speculation I'd be in fovour of it, but longer term I agree, rising costs in Oz would certainly eat into any gains made.

 

Regardless, there are two things i am sure of, trying to second guess the markets short term is a mugs game, and once you've 'clicked transfer' don't look at the rate until you next need to travel / move, you can guarantee it will only have moved against you!!

[Sarab]

I'd like to follow this thread as I am waiting to transfer some money over too.