AUD on the decline... Should I exchange now or wait? - Page 2 - TravelPUNK Backpacker College Student Budget Travel Message Boards!



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Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?

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Old 09-03-2008, 10:09 PM   #21
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mermaidnz - i think i'll be in japan just before you go... or maybe some of our dates overlap... so we're pretty much gonna have the same problems with the stupid aussie dollar...

are you going to change it over to yen soon? i was thinking of doing it through westpac bank because they have 0% commission and their exchange rate is better than travelex... do you have any suggestions?
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Old 09-03-2008, 10:13 PM   #22
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iv got not freaking idea!! lol its making me wanna pull my hair out tho. im seriously kicking myself for not changing it back when it was dollar for dollar.

i only have 3K to change so i might do half now, and wait a bit?

as for the USD? no idea there too....
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Old 09-03-2008, 10:20 PM   #23
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on a happy note, the euro has gotten weaker against the dollar its at 1.44 now and the last time i looked it was at 1.49...economic gods pleeeeese make it decline more
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Old 09-03-2008, 10:43 PM   #24
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oh. now im really kicking myself!!


we could have got an ANZ travel card and locked in the rates a few months back when it was good, and still be on that amount right now BLAH!


http://www.anz.com/aus/ind/banking/t...travelcard.asp
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Old 09-03-2008, 10:50 PM   #25
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bahaha wanna see something really depressing? http://www.x-rates.com/d/USD/AUD/graph120.html

its a graph of the last 120 days... should changed money on july 15th!!
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Old 09-04-2008, 05:49 AM   #26
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For the Aussies...

I would go to your bank, see what exchange rate they'll give you. See what service charges they'll charge you. Usually if they don't charge a service rate, they'll just take a penny or two per dollar off of each dollar. If its only going to be that much(so 1-2% total), then I would suggest maybe converting.

At the same time though, do you really want to carry around $1500 worth of Yen or American? So its up to you. I really want to do it myself, but i don't know where I could put safely a bunch of Australian other than I suppose my moms safe deposit box. It's all I risk I suppose, because it could go back the other way(good for you, bad for me).
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Old 09-04-2008, 06:53 PM   #27
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omg. even the yen dropped below .90 today i want to cry! my whole budget has been thrown out the window now, i worked it on almost dollar for dollar with the USD and now, since its declined so much, im going to have to add 20% to each country and 10% to japan BOO!
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Old 09-04-2008, 07:42 PM   #28
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Could be worse. You could still be working in NZ
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Old 09-04-2008, 08:28 PM   #29
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hahahaha good point!
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Old 09-09-2008, 04:52 PM   #30
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Quote:
Originally Posted by mermaidnz View Post
iv got not freaking idea!! lol its making me wanna pull my hair out tho. im seriously kicking myself for not changing it back when it was dollar for dollar.

i only have 3K to change so i might do half now, and wait a bit?

as for the USD? no idea there too....
According to this, it's going back up... ever so slightly... I'm gonna check this every day and see if it keeps going up.

http://money.ninemsn.com.au/news-and...Japanese%20Yen
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Old 09-09-2008, 05:31 PM   #31
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"The AUDJPY decline from near 104 consists of 2 equal legs. Although the longer term trend is likely down, a larger correction from 85 is very much possible. A triangle or flat could be unfolding from there."
I tried to understand the AUDUSD one but it made no sense to me... :
"Continued divergence with oscillators suggests that the low today was a B wave low in what will probably be an expanded flat. Risk is to the upside."

Source: Dailyfx.com

What does all that mean?
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Old 09-09-2008, 05:39 PM   #32
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so, i may have been obsessing over this a bit much and the other day wrote out the stats for the last 5 years of yen and usd.lol


Yen: 2008- high of 102 in july, low of 88 currently.
2007 high of 105 in july, low of 93 jan,feb,march
2006 high of 92 in dec, low of 84 in mar and june

ok, not gonna type it all out, beacuse there didnt seem to be much of a pattern tbh. i was looking tho, and almost every single currency DROPPED dramatically in august. no idea why, but i wish i had noticed it happening earlier. i think ill change my money into pounds instead, its more stable.
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Old 09-09-2008, 06:22 PM   #33
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Maybe instead of changing your money you could just hedge it. I'm not sure how you actually do that. Some kind of currency options I guess?
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Old 09-10-2008, 12:07 AM   #34
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the pound isnt so great at the moment - theres a recession working its way in the UK and maybe in the short term your money is better in pounds but we're not sure when the recession will hit us fully so id be very careful about switching money around ATM. my pound is getting me shite exchange rates in asia at the moment, and although i still get 6 Malaysian Ringgit per pound, im losing out on RM1 per pound exchanged based on the rates i usually got before the recession. Thai Baht and Indonesian Rupiah is also lower this year, from pound, only the Sinapore Dollar seems to get a strong rate still but I'm not going there this year so its no good

I'm not entirely sure how all this economic stuff works but I'm sure the recession and the crap exchange rates are connected somehow. The Euro vs. Pound is also bad for us brits; when i was in Holland last year the rate was very favourable around 1.5Euro to each pound. now its hovering around 1.25. im off to belgium when im back from asia so the euro is a big worry!
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Old 09-10-2008, 12:32 AM   #35
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so, would you say it might be better to exchange to euro?

basically, im heading to japan (no probs ill have that cash already on me for the 3 weeks)china, HK, nepal, india and egypt- for those countries ill need to have my money on a card of some sort, what they offer us here is a card which holds a few currencies. either euro, pounds, or usd. i guess aud as well? i need to put money on it soon, and *was* going to use USD, but with the rates so shit im considering my other options... then again i guess it depends what currency is most easily accpeted in each country too.

gah. this sucks.

it would have been so much easier if id just brought the house hahaha
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Old 09-10-2008, 12:40 AM   #36
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hmmm im no expert but id warrant a guess that you should convert to euro. its been a lot more consistent than the pound, but then again you will want to look at individual conversion rates between each of those currencies vs. the pound and the euro. take into account that the pound will problably decline more in the next year, but im not entirley sure how its connected to places like nepal/egypt

also is it worth coverting from aud-pound/euro-other currency? if its better, maybe keep it in aud if its usable in each country? id think the fees would be less and would be less legwork for you. a gamble perhaps, but the pound is a ig gamble at the moment and who knows what could happen to the euro!

even then...the aud might fix itself...
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Old 09-10-2008, 08:32 PM   #37
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BOO! the Euro dropped over night here.

i think im going to try not to stress about it, and leave my money changing until the last day possible. ill take a gamble that it might go back up by then, or drop even further!! haha deal or no deal styles, ill take whats in my case at the very end i think
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Old 09-11-2008, 07:04 AM   #38
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According to my cousin through an article he read... Something about the banks of England are going to devalue the cuurency because they can't export anything for profit at the moment(seems like an American problem).

I think he said it would go down to 1.50 to 1 american dollar.

So I wouldn't put my trust in the GBP right now.
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Old 09-11-2008, 10:58 PM   #39
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So how does the whole Freddie Mac and Fannie Mae stuff affect the USD? Is it good or bad for the USD?

And the hurricane? These things have affected it somehow.. but I'm not 100% sure how...
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Old 09-12-2008, 03:47 AM   #40
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I would speculate that its bad. However it does give investors relief in that with the U.S. government taking it over, there is little chance of them collapsing unless our economy 'depresses' overnight.

Kind of scary for our free trade, capitalist driven ideology. Seems like its dying with moves like this.
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