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Thread: Currency rates (added every week or two).

  1. #291
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    Quote Originally Posted by DELTAprime View Post
    It's a sad sign of the times that I got excited when Commbank raised the US exchange rate from 69c to 71c for a little while the other day. Back down to 69c again.
    If you're buying currency, I've always found Westpac to offer the better rates (even though only slightly.) For example, they're selling USD for 70c at the moment.

    The Aussie dollar has really taken a hard hit the last few weeks. I fear we're heading for the 50/60's again in the not too distant future

  2. #292
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    The AU$ plunged against most currencies on Monday (up to 8% on some), as our investability rests largely on the backs of our largest trading partner's projected growth (China)... and that has been taking a bit of a slide lately, leading to a stock market plunge in Asia on Monday.


    As of today, according to xe.com, these are the current rates for AU$1...

    - US$ - 0.7125 (down 2 cents in the last month, after a fair bit of yoyo-ing in the last week)
    - GB£ - 0.4539 (down 2 pence in the last month)
    - JP¥ - 84.735 (a massive drop of 7 yen this week, after sitting at 90-95 yen since February)
    - EU€ - 0.6178 (another 6c lost, with most of it being this week)
    - NZ$ - 1.0998 (a drop of 3c in the last month)

    (bank and paypal rates are 2-3% less than the figures above)

  3. #293
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    I think we are starting to pay the price of putting all our eggs in one basket - Mining relying on china.

    We got rid of much of our national industries and neglected whatever remained in favour of mining and the global economy. Now we are tied to China like a dinghy to a huge tanker. If it goes down, it takes us with it.

    I hate to say it guys but the logical path seems to be down for the long term.

  4. #294
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    any economy experts know if we're gonna recover soon? or do i need to panic pay my preorders before we drop even further against the yen?

  5. #295
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    Buy your USD now people.

    It's only going to get worse...
    Dovie'andi se tovya sagain

  6. #296
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    Always wanted to buy USD when AU$ was higher but limitations imposed by banks prevented that. But for me I did want to convert everything I had to USD coz I was thinking that the US economy will bounce back.

    For AU$, I have no idea.

    Probably no online ordering from now till ?????

  7. #297
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    The AU$ dropped to 69 US cents today... it's seems to be in freefall now, averaging a loss of 1 cent every week.
    At this rate we could be looking at something in the 50s by the end of the year.

  8. #298
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    Quote Originally Posted by Trent View Post
    Buy your USD now people.

    It's only going to get worse...
    That article quotes a person saying that the AU$ would hit 68 US cents by the end of the year, but with it dropping 2 cents to 71 in the two weeks before that article was written and an average of 1 cent per fortnight in the year before that (by their own stats and graph), I think he was being very optimistic about it only dropping to 68 in the next 16 weeks.

    With no sign of China suddenly turning around and importing more from Australia, and with America likely to increase interest rates soon (while we are more likely to cut rates to stimulate our economy soon), there isn't really anything in the near future that could increase the value of the AU$.

  9. #299
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    As of today, 1 AUD is converted to:

    0.733300 USD
    0.478443 GBP
    88.1940 JPY
    0.645586 EUR
    1.09527 NZD

    (bank and paypal rates are 2-3% less than the figures above)

    The Aussie dollar is rising against the US dollar & Japanese Yen (& British Pound & Euro too).

    Source: xe.com

  10. #300
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    I saw that it had got above 73 us cents this morning on the news and was going to post it up (I forgot after posting up some news postings)... because it is rather surprising that it has been gaining for the last couple weeks despite the uncertainty of China and the US.

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