almost at 1.02 USD now. time to load up the paypal accounts?
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almost at 1.02 USD now. time to load up the paypal accounts?
As of 18th October, according to xe.com, these are the current rates for AU$1
- US$ - 1.0192 (way up)
- GB£ - 0.6457 (up)
- JP¥ - 78.303 (way up)
- EU€ - 0.7404 (up)
- NZ$ - 1.2854 (up)
Bounced back today on Euro news. back up to about 1.03
It managed to hit $1.05 today. Not a bad recovery at all.
Back to ebay I go... :p
As of November 11th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0151 (went up, but now back down to what it was a month ago)
- GB£ - 0.6369 (went up, but now back down to what it was a month ago)
- JP¥ - 78.707 (went up, but now back down to what it was a month ago)
- EU€ - 0.7451 (went up, but now back down to what it was a month ago)
- NZ$ - 1.3045 (up a fair bit)
gah i just went to buy something from RK and the $AU has dropped to $0.97US :(
anyone know why? just curious.
Yeah, it's called everywhere except for Asia is in absolute 'We've F#$%ed Up' mode. :(
Europe is in a state of Financial crisis as is the U.S. which is causing the fluctuation in the value of our Dollar but what grinds me the most is how pathetically easy Aussie investors are spooked! :mad:, seriously, a Greek politician farts and Aussie investors run for the bloody hills!?! :confused:
As of November 24th, according to xe.com, these are the current rates for AU$1
- US$ - 0.9718 (way down)
- GB£ - 0.6252 (down
- JP¥ - 74.900 (way down)
- EU€ - 0.7271 (down)
- NZ$ - 1.3109 (up)
The short answer is that China is about to go belly up (Chinese economists have privately come out and said that "every province in China is Greece") and that the only thing keeping this country afloat thanks to the deregulation of the 80s (when our manufacturing section got thoroughly gutted) is the mining boom. That's what's meant by a "2-speed economy"; the mining sector is in boom, but the rest of the economy is in tatters, because we produce next to nothing anymore in this country- making our dollar next to worthless.
Expect more to follow as we proceed on a road to Weimar Germany level inflation and an equally worthless dollar.
Back up to over $1 USD as of 30/11/2011
And yet it's sadly accurate (I suspect this is "preaching to the choir" in your case as the old saying goes, but it's worth mentioning in terms of currency values). The problem we have across the world is that we've devalued currencies and invested in debt. Last I checked the financial system was in debt globally to the tune of $1.4Q (quadrillion); $15 trillion in the case of our own banks.
This has been due to the currencies of the world being based less and less on physical production and more and more on speculation. The problem is that a currency is only worth what it physically produces. The more you physically produce goods and productive services (which either facilitate or contribute to the production of goods); the more your currency is worth. The same is true of your infrastructure, which directly impacts on your productivity.
Conversely, the less you produce and the more you invest in speculation and debt; the more worthless your currency becomes.
It's no coincidence that those booths buying up gold jewelry have shown up in shopping centres.
Unfortunately the investment bank who run the show (and in some cases, literally own half the country here and in other countries to varying degrees) aren't going to fix the problem, because the only thing that will fix the problem is a bankruptcy reorganisation which would result in them losing everything.
At this stage, it's only a matter of time before the whole financial system comes crashing down like a deck of cards and things like parity with the US dollar (let alone affordability of things), become a distant memory.
Monetary and market value can be influenced by perception alone. I am pretty sure that if you go to the stock exchange and scream really loud 'CHINA'S ECONOMY IS SLOWING DOWN!!' you will probably wipe several cents from the $AU currency.
I also believe that the global economy is screwed up and we are currently running on fumes but those fumes may not even exist at all as perception still has a role in how this works.
Last time the $AU went under parity, there were similar news of China slowing down. Then the Chinese government came out and said 'No it's ok' and the AU$ went into surplus fairly quickly and I suspect the same thing has happened now.
you can always slow all of em down by yelling " there's a bomb" in the stcok exchange room, that'll halt all transactions for the day. Of course you wont be able to enjoy the chaos you'll ensue coz by then youd either be trampled or beaten down by security:p:p:p
Call me small minded, but Im just happy we are at parity....
The problem with that theory (which in all fairness is the economic theory perpetuated by the media) is that the financial aggregates and monetary aggregates are not the whole of the economy but a section of it.
When you look at those sections of the economy in terms of the physical aggregates, things become very clear. That's why the physical economists have been able to predict every single financial depression and collapse since the 1960s, including the GFC that all of the liars in the parliament claim that "noone saw coming".
Think of it like a house with structural problems. Which builder is going to more accurately predict when a house is likely to collapse- the one who factors in the state of the foundations, or the one who ignores them completely?
Funny you bring that up. Recently a Chinese economist has unofficially (purely because of what happens in China to those who are deemed dissidents) come out and said that "every province in China is Greece.
It's so difficult talking about this subject on here. There's so much I could go into here, but doing so would get into very political territory considering the history involved (including a nearly averted paramillitary coup in NSW). There is just so much to this, in terms of corruption, oligarchical agendas and fascism (East India Company style), that the question when discussing it is one of how far down the rabbit hole you look.
The best analogy is literally a gambling addict heavily in debt. They keep finding new ways of getting money and borrowing money they don't have, until eventually something gives and their mansion of debt comes crashing down around them.
and back under $1 USD again
We are back above Parity (just).
It almost seems like a game. I still believe that this ups and downs are mostly due to perception rather than anything economically solid. People are afraid about the European situation and when the news are pumping you with it, the dollar goes down. The news slow down regarding the Euro (or people get used to it) and the dollar creeps back up again..
As of January 10th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0281 (way up)
- GB£ - 0.6649 (up)
- JP¥ - 78.982 (up)
- EU€ - 0.8051 (way up)
- NZ$ - 1.2978 (down)
The AU dollar seems to be going up every 20 minutes.
It's at US$1.067 at the moment. It was just bellow 1.06 at around 7pm.
I bought some US dollars (cash) this afternoon but they only sold them to me at 1.02 :(
See first post as to why the posted rate is not the actual cash-conversion rate.
I was just confused because I got it converted at Australia Post who claim to not take any commission. I don't really mind, as long as I'm not getting less money I don't really care.
As of February 7th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0780 (way up, by 5c)
- GB£ - 0.6817 (up)
- JP¥ - 82.596 (way up, by 4y)
- EU€ - 0.8222 (up)
- NZ$ - 1.2915 (slightly down)
It's interesting to look back to the start of this topic almost 3 years ago now, and see how much more our AU$ buys against the US$, GB£ and Euro - almost 50% more on each... But, the other two currencies have gone up and down during that time, but are currently about the same.
The rates in the first post, of 7th May 2009 (with AU$ value increase since then)
- US$ - 0.7528 (43% better now)
- GB£ - 0.4979 (37% better now)
- JP¥ - 75.18 (10% better now - half of that was in the last month)
- EU€ - 0.5666 (45% better now)
- NZ$ - 1.28 (1% better now)
As of March 28th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0434 (way down)
- GB£ - 0.6540 (way down)
- JP¥ - 86.609 (way up)
- EU€ - 0.7829 (way up)
- NZ$ - 1.2740 (down)
As of April 23th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0285 (down)
- GB£ - 0.6387 (down)
- JP¥ - 83.399 (down)
- EU€ - 0.7830 (steady)
- NZ$ - 1.2693 (down)
We have dropped a lot in the last week (from a high of around $1.04). US$1 is now AU$1.014 as of 7th of May.
We are now bellow par at $US 0.998!
Will this be it or will we once again rise above parity?
My dad told me tonight that I should buy a bunch of US dollars now before my trip in June/July because he seems to think it's going to get worse.
The thing is that one never knows. The Australian economy is so dependent on external factors that it could go either way.
I think that the last 20 or so years of Government has set up Australia to possibly become a 3rd world country over night if there is a real global financial collapse that includes Europe and China.
As of June 3rd, according to xe.com, these are the current rates for AU$1
- US$ - 0.9697 (way down)
- GB£ - 0.6312 (steady)
- JP¥ - 75.680 (way down)
- EU€ - 0.7802 (slightly down)
- NZ$ - 1.2856 (up)
We have gone up to near parity and we were 'lucky' during the week as the US also went down with us not affecting much in the US/AU exchange. However I believe that this is the calm before the storm as things are looking pretty bad in Europe and soon the media is going to start focusing even more on it.
As of June 19th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0088 (way up)
- GB£ - 0.6436 (up)
- JP¥ - 79.594 (way up)
- EU€ - 0.8005 (up)
- NZ$ - 1.2739 (down)
As of July 6th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0267 (way up)
- GB£ - 0.6607 (way up)
- JP¥ - 82.012 (way up)
- EU€ - 0.8294 (way up)
- NZ$ - 1.2801 (up)
A good couple of weeks, with the Aussie rising against all the major currencies... and apparently it is a record high for the Euro (no surprise really) during its young life.
As of July 30th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0491 (way up)
- GB£ - 0.6690 (slightly up)
- JP¥ - 81.980 (very slightly down)
- EU€ - 0.8573 (way up)
- NZ$ - 1.2967 (up)
As of September 11th, according to xe.com, these are the current rates for AU$1
- US$ - 1.0334 (slightly down - hasn't moved much in the last 6 weeks)
- GB£ - 0.6463 (down)
- JP¥ - 80.924 (slightly down)
- EU€ - 0.8099 (way down - readjusting after sharp weakening 2 months ago)
- NZ$ - 1.2779 (slightly up)
As of November 3rd, according to xe.com, these are the current rates for AU$1
- US$ - 1.0338 (same as 8 weeks ago - hasn't moved much in the last 14 weeks)
- GB£ - 0.6451 (same as 8 weeks ago)
- JP¥ - 83.170 (up)
- EU€ - 0.8054 (same as 8 weeks ago)
- NZ$ - 1.2528 (down)