# A good time to exchange from GBP to AUD



## kaz101 (Nov 29, 2007)

The Australian currency has been weakening and with the 1% cut in interest rates yesterday as well, it's a good time to exchange GBP to AUD. 

I have a business GBP currency account out here in Australia since I get paid in GBP and then I choose when to transfer it over to the AUD business account and today was a good day. The other day I would have got 2.20 AUD to 1 GBP but today I received 2.43 AUD to 1 GBP and that was a banks rate (a currency exchange would probably be even better). 

For those of us with mortgages in Australia we should see an interest rate cut of 0.8% since not all of the interest rate will be passed on to consumers due to the credit crisis. 

Those with high interest savings accounts will see the interest rate fall there too (unless they are fixed rate term deposits). 

Regards,
Karen


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## Dolly (Feb 17, 2008)

Geez,

That's fantastic!!!! I looked at the exchange rates every single minute whilst we were buying the house...trying to find the right time to 'do the deal'. At that stage (August) it had plummeted to 2.04. It then rose to 2.14 at which time we had no choice but to jump. I won't tell the other half....he wouldn't take the news too well! But that's just it, we knew the rate would rise up again (it always does) but just not in time for us and you just have to take it on the chin and not dwell on what money you've lost (who am I kidding....  ).

Dolly


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## tony carroll (Jun 9, 2008)

*make a few dollors more*



Dolly said:


> Geez,
> 
> That's fantastic!!!! I looked at the exchange rates every single minute whilst we were buying the house...trying to find the right time to 'do the deal'. At that stage (August) it had plummeted to 2.04. It then rose to 2.14 at which time we had no choice but to jump. I won't tell the other half....he wouldn't take the news too well! But that's just it, we knew the rate would rise up again (it always does) but just not in time for us and you just have to take it on the chin and not dwell on what money you've lost (who am I kidding....  ).
> 
> Dolly


HI dolly 


Just looking at 

British Pound to Australian Dollar Exchange Rate - Yahoo! Finance
and wow,
Great time to get a few aus dols in the hand $254.25 ( 7`30 am ) Befor charges of course but that is the best is has been in years 
first time I went to aus in 1990 and i got $2.52. to the £1 and have not seen such a good exchange since .
So jump on the band wagon and cash in rather Sharpe



Tony C


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## Dolly (Feb 17, 2008)

tony carroll said:


> HI dolly
> 
> 
> Just looking at
> ...


You're breaking my heart.........

Dolly


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## northern mover (May 30, 2008)

Just bought some $$$$$$$ at 2.57!!!

But; bought some last week at 2.28

If i had the nerve, i'd have held on; C'est la Vie!!
Made enough to pay for the flights next month, so bonus; but if i had been Tony, maybe i could have made a killing, and retired!!

J


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## tony carroll (Jun 9, 2008)

northern mover said:


> Just bought some $$$$$$$ at 2.57!!!
> 
> But; bought some last week at 2.28
> 
> ...


Yeah good money to have been made 
only got £250k'S worth tho
should tie me over till xmas 
Must go old bean champers getting warm wot wot wot


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## tony carroll (Jun 9, 2008)

*Not really*



tony carroll said:


> Yeah good money to have been made
> only got £250k'S worth tho
> should tie me over till xmas
> Must go old bean champers getting warm wot wot wot


I WISH 
Too much of our money is tied up in house and untill it's sold 
Can't risk upsetting the better half
have droped afew pound in tho
£250k would have given all most $50 k profit on this time last month against $ to the £
if only


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## northern mover (May 30, 2008)

ROFL, Tone........

only spent 75k so far, but made enuff to pay for your flight; still need a bag handler.................you are in the garage btw; cant get 4 beds till i rent a mansh..........


XXXX


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## jockopaul (Aug 30, 2008)

tony carroll said:


> I WISH
> Too much of our money is tied up in house and untill it's sold
> Can't risk upsetting the better half
> have droped afew pound in tho
> ...


howdy guys
had a look after reading this post and it was a bit of good news,, and i did a bit of investigating but it seems that some banks building soc;s arent offering these good rates, on line was better but im a bit unsure about that kind of transaction,, the companies i recognised travelex, american express, etc were not offering anything like that, more like 220$ for best rates and some even lower it was a wait of 10-14 days for your money for some sites to get good rates not sure about that.. ive only ever bought money for holiday at usial outlets and usially use my bank debit card abroad now, although the charges are shocking..
so if anyone knows were to get these good rates in the uk id be happy to know we wouldnt mind buying some.. to pay for visas vetasses etc.. that would be a bonus... thanks helena


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## tony carroll (Jun 9, 2008)

northern mover said:


> ROFL, Tone........
> 
> only spent 75k so far, but made enuff to pay for your flight; still need a bag handler.................you are in the garage btw; cant get 4 beds till i rent a mansh..........
> 
> ...


Hi 
FANTASTIC NEWS
In a garage ' and i thought I would have been in the dunny (aus bog) or the wheelie bin
As I'm normally in the dog house , It looks like I'm going up in the world 
Glad you have made the air fares , Every penny/cent wot ever .. Will go a long way at the moment to help start out 
PS
can I have a bunk bed 
and buzz light year bed sheets please
and is the garage door remote controlled as us blokes like gadgets

Your room m8

tony 
xx


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## zoeburrell (Oct 13, 2007)

jockopaul said:


> howdy guys
> had a look after reading this post and it was a bit of good news,, and i did a bit of investigating but it seems that some banks building soc;s arent offering these good rates, on line was better but im a bit unsure about that kind of transaction,, the companies i recognised travelex, american express, etc were not offering anything like that, more like 220$ for best rates and some even lower it was a wait of 10-14 days for your money for some sites to get good rates not sure about that.. ive only ever bought money for holiday at usial outlets and usially use my bank debit card abroad now, although the charges are shocking..
> so if anyone knows were to get these good rates in the uk id be happy to know we wouldnt mind buying some.. to pay for visas vetasses etc.. that would be a bonus... thanks helena


From another thread 'currency exchange.Help!'....

Just thought I'd 'post' an update!

We registered with HiFX and thay've been great. The 'dealers' put everything into easy to understand language! Last week (when everything seemed to have levelled out at $2.25) we arranged a 'spot' transfer of £35,000. We got $78,750 and were pretty happy with that as we didn't forsee what was going to happen this week! Now the rate has shot up to $2.61 we decided to change another £45,000 but this time on a 'forward fixed rate'. This means that we could 'fix' the rate at $2.61 for us to have the total money with HiFX by 28th November (our fingers crossed we should have sold our house by then!) and just send them the 10% 
(£4500) today. We have just about scraped the £4500 together but it will be well worth it! If for some reason we have to extend the date past 28th November we can do this AT NO CHARGE as long as the AU percentage rates don't drop below the UK rates (this looks extremely unlikely!) and if this were to happen they just charge you the interest on the AU$'s. All in all for a total of £80,000 we achieved $196,200. So averaged anexchange of $2.45 per £1. We just need to hope the rate stays high until we actually have the ££s from our house sale in hand! Every penny (or cent!) helps, so they say 

So... Helena.... HiFX gave us $2.61 when it was at $2.67 today... not bad! You do have to have an account with them though - we opened it and sent everything online though so was a speedy process.

Tony - would it be worth you 'fixing' a rate? You juust have to give them 10% now - the rest when you've sold your house. We are in the same boat (although an offer on the house so maybe a little better off...) You canset a date for the final 'exchange' and if you don't achieve that just roll it forward? Up to 2 years at no extra charge.... may be worth looking at for you? 

All the best everyone!

Zoe xx


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## kaz101 (Nov 29, 2007)

jockopaul said:


> howdy guys
> had a look after reading this post and it was a bit of good news,, and i did a bit of investigating but it seems that some banks building soc;s arent offering these good rates, on line was better but im a bit unsure about that kind of transaction,, the companies i recognised travelex, american express, etc were not offering anything like that, more like 220$ for best rates and some even lower it was a wait of 10-14 days for your money for some sites to get good rates not sure about that.. ive only ever bought money for holiday at usial outlets and usially use my bank debit card abroad now, although the charges are shocking..
> so if anyone knows were to get these good rates in the uk id be happy to know we wouldnt mind buying some.. to pay for visas vetasses etc.. that would be a bonus... thanks helena


Have you tried the usual currency exchange companies? 

I don't tend to use banks usually it's just that I was moving it from one bank account at St George to another bank account at St George. The bank actually have dealers for the business accounts.

Companies I can think of at present are:
HIFX
Moneycorp
Travelex
Currencies direct

Don't be afraid to play one off against the other. I did this when I was moving over - I actually rang them and said I was looking for quotes for different companies so give me your best quote. Then I rang another company and did the same thing. Yes it took me a few minutes on the phone but I got a better exchange rate and all fees waived. For large amounts a little bit in the exchange rate can make a big difference!

Regards,
Karen


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## tony carroll (Jun 9, 2008)

*Good deal*



zoeburrell said:


> From another thread 'currency exchange.Help!'....
> 
> Just thought I'd 'post' an update!
> 
> ...


HI Zoe.

Thanks , I will give that a look in to tomorrow (Thursday) and if I can cut a deal 
I will take advantage of the good rates to be had.
Just had a look now at the exchange and it's gone mad today holding at $256 Was up to $261 + early on .
Lets hope a lot of people out there taken a few Dollars more with them to the land down under 

Thanks again

Tony C


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## northern mover (May 30, 2008)

Tone,


a bunk bed?????? Good Lord, d'ya think i'm made of money; make do with a matress.

Sounds like the girl is after taking my heart; if i had one; lol;


Gadgets???? thought all boys were used to manual function...........................whatever that means.


Good news on the exchange rate, how well off are we????


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## tony carroll (Jun 9, 2008)

*money money money must be funny in a rich mans world.... he he ...(tune from ABBA)*




northern mover said:


> Tone,
> 
> 
> a bunk bed?????? Good Lord, d'ya think i'm made of money; make do with a matress.
> ...


 OH YES YES YES ..... laughing all the way to the bank

I got a fivers worth  Wot about you ?


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## Bluecookie (Aug 28, 2008)

northern mover said:


> Just bought some $$$$$$$ at 2.57!!!
> 
> But; bought some last week at 2.28
> 
> ...


Hi 

Where did you find it best to buy from?

Hels


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