Aussie Dollar drops dramatically
A quick alert bulletin on the Australian Dollar
One of the major currencies saw substantial movement yesterday and you may wish to take advantage of this.
The Aussie dollar has had a rough ride on the currency markets for around a month. But the AUD dipped substantially yesterday against the US Dollar, Pound and the Euro.
Now could be a good time make your move as this slide has taken a very dramatic turn.
Yesterday:
- The Aussie dollar lost around 2 cents against the US Dollar.
- The Euro gained around 4.5 cents.
- The Pound gained around 4.4 cents
Just a month ago, the Aussie dollar was at 0.92 against the USD. It’s dipped today to 0.8356.
If you’d like to discuss how we can help you to buy, or sell Australian Dollars, please get back in touch soon. If you don’t have the full amount to trade now, but would like to buy straight away, we can do this by using a 10% deposit.
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Latest Currency Exchange rates news
pm, May 18th 2010. Latest Currency exchange rates movements.
Now that the UK Election has been decided, the markets have settled into slightly more predictable fluctuations. Yesterday was a fairly quiet day for currency rates, with the Euro consolidating a little after its rapid descent. Don’t expect this to be the end of the euro slide though. The markets show large numbers of speculators don’t have much faith in the Euro at present.
GBP to USD: The latest news from the USA suggests that they now have a robust economic performance, relative to the UK and Europe. This has led to the Pound sliding against the Dollar. It wasn’t so long ago, that we saw $1.63 to every £1. We are now seeing around $1.44. It would seem that everyone has run for the safety of the dollar.. and Gold.
EUR to USD: The Euro has taken a battering from the US Dollar. It was only towards the end of last year when you could get a rate of 1.50. It’s now heading down, very close to 1.20. That’s a drop of 20%! Predictions are that the markets still don’t like the overall weakness of the economies in the Eurozone and this rate may drop further over the next few days.
GBP to EUR: The costly and hastily “cobbled together” aid package for Eurozone economies hasn’t convinced the markets, and the Pound has strengthened slightly against the euro. If economists are to be believed, we may see the Pound strengthening even more, as we approach the forthcoming emergency budget. However, don’t be overconfident about the strength of the pound against the Euro. As we get closer to the budget annoncements, we may see the pound value start to fluctuate wildly. Let us know what rate you would like here, and we will contact you.
AED to AUD: The Australian Dollar (Aud) has been riding a high against the UAE Dirham. In the last year, we have seen the Dirham dip from around 0.3005 aud right up to around 0.3037. That’s around 10% in a year! Is this the time to consider selling Australian dollars and buying AED? Maybe buy forward with just 10% deposit though us?
With currency rates fluctuating as much as they are at the moment, now may be a good time to buy your currency ahead of time buy using our “forward currency contract” mechanism. This only requires a 10% deposit initially from you.
If you would like to discuss any aspect of currency conversion with one of our experienced currency dealers, please contact us here and we will get back to you.
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Latest Currency Rates update
pm, May 11th 2010. Latest Currency exchange rates movements.
With the result of the British Leadership election still undecided, Germany’s Chancellor Merkel’s unwillingness to provide further “bailout” funds for the weaker EU states and better-than-predicted US non-farm payrioll news, it seems that we are in for turbulent times in the currency market.
In the UK, the markets haven’t liked the uncertainty surrounding the continuing debate on who will take over as the leading political party.
GBP to USD: The latest news from the USA suggests that they now have a robust economic performance, relative to the UK and Europe. This has led to the Pound sliding against the Dollar. It wasn’t so long ago, that we saw $1.63 to every £1. We are now seeing around 1.47.
EUR to USD: The Euro has taken a battering from the US Dollar. It was only towards the end of last year when you could get a rate of 1.50. It’s now heading down, very close to 1.25. Predictions are that the markets still don’t like the overall weakness of the economies in the Eurozone and this rate may drop further over the next few days.
GBP to EUR: The costly and hastily “cobbled together” aid package for Eurozone economies hasn’t convinced the markets, and the Pound has strengthened slightly against the euro. If economists are to be believed, we may see the Pound strengthening even more, once the political leadership has been decided.
AED to AUD: The AUD has been riding a high against the UAE Dirham. In the last year, we have seen the aussie dollar rise from around 0.3005 aud right up to around 0.3037. That’s around 10% in a year! Is this the time to consider selling Australian Dollars and buying UAE Dirhams? Maybe buy forward with just 10% deposit though us?
With currency rates fluctuating as much as they are at the moment, now may be a good time to buy your currency ahead of time buy using our “forward currency contract” mechanism. This only requires a 10% deposit initially from you.
If you would like to discuss any aspect of currency conversion with one of our experienced currency dealers, please contact us here and we will get back to you.
Good time to Sell Euros and Buy Pounds?
Some of you may recall my article on the 27th of January.. “Is this a good time to buy euros with pounds?” Well, it transpires that it was. Now the situation has reversed.
The Pound value has dropped against the euro, since that article. We had a case, this week, where a customer may not have been able to complete on his house purchase as the exchange rate had dropped so much that there was a shortfall of a few thousand euros on completion day.
This could have been overcome if the client had bought a Forward contract at the exchange rate that existed on the 27th of January. If he had done this, he would have been sure that he would have had sufficient funds for his property purchase.
So,…. Is it a good time to sell euros and buy pounds? Probably. No-one can say for sure, but it would appear that the pound is as weak as the euro, when compared to the US Dollar and the Yen. The eurozone is still dragging the Greek finance problem around and the Pound is still suffering from a wave of poor economic results. So, some would say that the Euro and the Pound have levelled off. Experience shows that this staus quo rarely remains for long.
The easiest way to look at this is; if you need to change your money at some point and you need to achieve a certain amount, then you have these options:
- Exchange all of your Pounds for euros at today’s rate. This is called a SPOT Contract. It ensures that you fix the rate today and you get your money transferred, to where it needs to be, in good time.
- Exhange some of your Pounds for Euros and risk the exchange rates going in your favour by the time you need to have the rest of the money changed. This is HEDGING in its simplest form. It does mean you can sleep at night, safe in the knowledge that you’ve made sure you don’t lose too much if the rates don’t go your way.
- Exchange your Pounds for Euros, at today’s exchange rate with just 10% deposit. Then pay the balance when you need the money in the future. This is called a FORWARD Contract. This is the way that most of my clients are now exchanging their money. By paying just a 10% deposit, our clients can relax, safe in the knowledge that they have the right amount of money for their property purchase.
Of course, this doesn’t just apply to Pounds and Euros. It applies to any tradeable currencies. It also applies to much smaller amounts than usually needed for property purchases.
Contact me here, for some free advice on how to get the best currency exchange rates to suit your circumstances.
