The Australian dollar exchange rates have been on the up and up. If you are heading to Australia, get advice on how best to transfer your money.
Not that long ago, just at the beginning of the millennium, the Aussie dollar was about half what it is today against most major currencies.
Today the global environment is volatile and the Australian dollar swings a tad, but it still has a lot of wind in its wings.
With less to pay on imports, and with everyone saving rather than spending there's low inflation in the country and the forecasts are that it will remain low. And people expect a cut in interest rates to help with those mortgage payments.
Which is good.
But for Australian hotels and tour operators things dont look that good.
Unless those tour operators sell holidays overseas.
There are a lot of takers lately. Lots of Aussies are heading to Europe, Americas and Asia with the great Australian dollar exchange rates.
Back to our shores, Australian tourism is doing it tough.
International or exchange students at our universities need more money. From parents or loans or savings.
And Aussies who have money overseas, savings, incomes or pensions aren't happy either.
So what to do if you need to send money to Australia?
Want to know how to get the rate you expect? Ask our currency exchange specialist Peter Lavelle. Simply fill in the form below. He's looking forward to help with your foreign exchange requirements.
It looks to me like it'd take some kind of miracle to bring the AUDGBP exchange rate down right now! The Australian dollar hit its highest level against sterling since its April 2011 nadir last week, reaching 0.6767. (That makes an 11.46% increase since April, when the Australian dollar dropped to 0.671 following the Queensland floods.)
The main reasons for this increase meanwhile are the usual: concerns about UK economic prospects given its closeness to Europe, and Australian invulnerability to these problems given Chinese demand for its commodities.
Though it's true there have been signs of increasing weakness in China, including slowdowns in retail sales and manufacturing, it still expanded an incredible 8.9% last quarter. This puts it leagues ahead of the developed world.
In short, excepting some unknown disaster in China or Australia, expect AUDGBP strength to come!
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