What's your prediction on the Australian Dollar?

[RAM]

"Most expect a retreat in the Australian dollar form 76 US cents to around 72 US cents. Only one of the panel expects the dollar to move a long way above where it finished 2016 . . . who predicts 95 US cents.

Scope 2017 economic survey: Forecasting panel predicts steady rates in a slightly better year ahead

When everyone is lined up on the same side then the movement is mostly the opposite direction unfortunately for the crowd.

Just like all the experts predictions in mid/late Dec - 70 cents here we come...

They may well be right but not before we've visited 76...

 

[cove]

I will get some if AUD gets into the 0.77-0.78 range as it lowers my cost of living when we are in the US. My last purchase was 0.7644 so I would like to beat that by a little bit.

 

[whatmeworry]

I will get some if AUD gets into the 0.77-0.78 range as it lowers my cost of living when we are in the US. My last purchase was 0.7644 so I would like to beat that by a little bit.

Aussie Dollar 77c at the moment.

 

[Dr Ralph]

Aussie Dollar 77c at the moment.

I'd love to know where I can purchase at this rate.

Best I can see is just under .75.

 

[MEL_Traveller]

I'd love to know where I can purchase at this rate.

Best I can see is just under .75.

if you're in SYD/MEL somewhere like UAE currency exchange sells USD for between .5c-1c spread. So should be just above 76c ATM. No fees or commissions.

 

[amaroo]

Go you good thing! Have about US$15K in hotel deposits that need paying. These Mexican and CA resorts know how to stitch up a deal!

 

[RAM]

I'd love to know where I can purchase at this rate.

Best I can see is just under .75.

The absolute BEST way to do it is via one of the services such as the old OzForex etc. T&Cs though is you have to have a USD bank account to pay the money into.

If you find a 'helpful' branch it is possible (not quite needle in haystack but close) to open the account before you are in the US, transfer the money to it and finalise the ID when you land. Drawback - you will NOT be able to withdraw the money before you turn up in person with your passport. Way to explain why you want to do this is:

1. Concerned about carrying large amount of cash on your person
2. Wish to use their services which you have heard very good reports on and have a card to use across the US to withdraw from ATMs to avoid (1).
3. So that's why you need to set it up in advance so that the card can be sent to the branch and I pick it up when I arrive with my passport etc to finalise the required ID checks.

Use a very large shovel...

OR, the next time you visit the US, do a little research before hand and find a Bank, S&L or Credit Union that passes your 'due diligence' and go in and set up the account. I did this in 8 minutes, make sure you ask for the W88 form at the time (a declaration that you are a non-US based taxpayer in a treaty countries - Australia) saves having to mail it back. Then get your card for use at ATMs across the US (many have free network agreements) and then barter over what incentive will you offer if I take out a cc with you?

Amazing deals are available and makes it so much easier to get the US cash without having to carry large amounts on you.

 

[hummel]

if you're in SYD/MEL somewhere like UAE currency exchange sells USD for between .5c-1c spread. So should be just above 76c ATM. No fees or commissions.

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Are those the ones in the shopping centres? That's a pretty good rate.

My problem is I've got USD/Euro left over from my last trip and I want it in AUD!

 

[MEL_Traveller]

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Are those the ones in the shopping centres? That's a pretty good rate.

My problem is I've got USD/Euro left over from my last trip and I want it in AUD!

not sure! in Melbourne it's literally a hole in the wall in Elizabeth street with a stack of USD, two staff, and a weighing machine (when I was there a few weeks ago someone accepted $7500 just by looking at the weight on the scales... no counting!)

Often queues out the door.

 

[cove]

I bought at 0.7705 today and it will go off to the US on Friday for no charge.

 

[Danger]

The absolute BEST way to do it is via one of the services such as the old OzForex etc . . .

OR, the next time you visit the US, do a little research before hand and find a Bank, S&L or Credit Union that passes your 'due diligence' and go in and set up the account. I did this in 8 minutes, make sure you ask for the W88 form at the time (a declaration that you are a non-US based taxpayer in a treaty countries - Australia) saves having to mail it back. Then get your card for use at ATMs across the US (many have free network agreements) and then barter over what incentive will you offer if I take out a cc with you?

I have a Wells Fargo ATM account complete with a check (!) book and ATM card.

I bought at 0.7705 today and it will go off to the US on Friday for no charge.

Wonderful. But where did you get it at this rate?

 

[cove]

Bell FX 1800 003815 if you are wanting a contact.

 

[JohnK]

Up, up, up. I got THB26.5 the other day in Bangkok. Locked in some cash exchange for March trip.

 

[MEL_Traveller]

Up, up, up. I got THB26.5 the other day in Bangkok. Locked in some cash exchange for March trip.

you don't use a card like Citi? I got 26.47 through their ATM in bangkok in October (the rate on xe .com was 26.68) Citi delivers well in this respect.

 

[anat0l]

On the other hand, CHF 1.30 = AUD 1 now

Not that I have a lot to move over or anything, but it is giving me pause to try and work out if I can hold onto my Swiss bank account until I next get to Europe (which will not be any time soon)...

 

[MEL_Traveller]

On the other hand, CHF 1.30 = AUD 1 now

Other way around! CHF1 = AUD 1.30.

 

[anat0l]

Other way around! CHF1 = AUD 1.30.

Geez I need more sleep.....

The remains anyway.

 

[cove]

That Swiss franc value must be a crushing blow to so many traders who are right near but inside the border. We do business with a Swiss company thru their Italian division so we don't get body slammed by exchange rates. Meanwhile the Swiss are using high levels of robotics and automation together with super cheap bank loans to compete in the world markets.
My grandfather came to Perth from Zurich and I just cannot see how we could live and work there in this changing world.
I doubt this will happen in Australia as our country continues to run on foreign loans and we ignore the obvious risks of doing this.
I was happy with a buy at 0.7705 against the USD a week ago. There is no bell that rings to tell you when to buy.

 

[whatmeworry]

Suggestions the Aussie Dollar overvalued?

On Friday afternoon, the Australian dollar was up 6.7 per cent against the US dollar from its position at the start of the year. Against the Euro, it's up 5.0 per cent; against the Japanese yen, it's 3.6 per cent higher.
On a range of metrics, many warn the dollar's current valuation is unsustainable.

"Based on the latest CPI-based PPPs, the Australian dollar is about 8 per cent overvalued against the US dollar. Only the NZ dollar and the Swiss franc are currently more overvalued against the US dollar," Mr Tuck said.

Inside the Aussie dollar's global domination

 

[Awesom Andy]

Suggestions the Aussie Dollar overvalued?

It wasn't all that long ago when the same price was considered to be undervalued...