Just noticed the exchange rate today for AU vs US.
it's risen .1 from .86 to .87 since yesterday....
let's hope it goes on till we are back at .92 at least...
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Just noticed the exchange rate today for AU vs US.
it's risen .1 from .86 to .87 since yesterday....
let's hope it goes on till we are back at .92 at least...
Come onnnnn dollar!
You know you wanna help me get that Green Unicron... :)
Our currency at the moment is pegged to resources, and in the last few months Gold and Oil (as the most significant two) have lost about 30%. On top of that, the speculation that we could have 1-3 interest rate cuts by the end of this year (drop in oil price is expected to ease inflation slightly) means that investing in the AU$ would be a bad idea, until rates are expected to plateau or go back up (because the investment in the currency or any AUS asset by foreign sources won't be worth as much by the end of the year).
Our currency has dropped by against most major currencys in the last few weeks, including the yen, Euro and Pound.
My opinion is that we will stabilise when the oil and gold rate stabilises, and I doubt we would reach parity with the US$ unless a major disaster drives oil up again, our our inflation rate blows out (driving up our interest rates).
Yea, it should be about 88cents average until the end of the year.
And don't worry about interest rates, sounds good, but the banks don't listen to the RBA anymore (unless it goes up), and set their own, so don't expect cuts there.
carn on aussie!
hmm tried to pay one of my transaction at paypal..but seems like they are still lowering the rate today...how "dirty" can that be...
The rates actually down to 0.86 right now so u'd be looking to pay at around 0.8350. I've been rather saddened by the decline too myself. It's meant I can't bid as high on auctions I want too any more.