Exchange rate in Australia (converting back to Sterling)

(7 Posts)
Shnickyshnackers Mon 16-Dec-13 10:43:18

We have just looked at sending some money back to the UK to overpay our mortgage a bit before the end of the year, but WOW!! The exchange rate is rubbish!! I am used to it being much better, I am wondering is the dollar weak or the pound strong?? whats going on??!!

itsonlyapapermoon Mon 16-Dec-13 11:02:04

The dollar is weak I think-about 90c US or something. Was a lot stronger awhile backsmile

Shnickyshnackers Mon 16-Dec-13 21:49:44

Well I'm glad we realised it was so bad before we sent the money, we would have wasted an extra $1000!!??

TerrorAustralis Tue 17-Dec-13 05:05:21

The exchange rate now is actually good, compared to what it was for many years. I remember at one stage $AU1 only bought about 33p!

Don't assume it will automatically go back up. The Aussie dollar has been considered over valued for some time.

imip Tue 17-Dec-13 05:26:32

Dollar strong, pound week...

Dollar has recently dropped a bit, you would have done better to exchange the money a few months ago, but I still think you've done well.

I remember how hard it was when we first arrived in the uk 11 years ago. Dollar was worth nothing, we lived in a grotty bedsit that cost us a fortune!

Shnickyshnackers Tue 17-Dec-13 06:42:11

Well back in March the exchange rate was pretty good for us (sending dollars back to the uk to pay off credit cards etc) but just now it's not so good at all.

Trixybelle Tue 17-Dec-13 17:34:08

we have the same problem!! no longer in Oz but some of our money is sad
fingers crossed it will be over valued some time again soon!

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