I know if you knew you would be a very rich person, but does anyone know what is happening with the A$ exchange rate?

Last week it went back up to $2.50, now it is back down to the low $2.40's and there is now talk that the Aussie housing market is about to go pop, upsetting the whole Aussie economy. Do we keep our pennies here and wait for the dollar to weaken or will we be waiting for years to come, for it to go back to the $2.60's???

Any educated guess or stabs in the dark?


Takes a long time this visa processing!

We have the same frustration Paul. When we first visited Oz the rate was 3 dollars to the pound!! Doesn't look like we'll get anything like that now. We've decided to exchange a little at a time in the hope that it goes up slightly. But we've also been told that you pay tax on the value of any increase on you pot of money. Technically you should exchange it all as you enter Oz, if you don't and you later get a better exchange rate then the pay tax on the difference - great hey!

The rise and rise of the oz $!!
With Ausie base rates out of kilter with the rest of the world it is no wonder the A$ is increasing in value.
At 4.75% it is way above all the major currencies.
The US$ RATE IS 1% Japan 01% UK 3.5% and the EU 2% (I belive).
The reserve bank of OZ has maintained the 4.75% because of the unsustainable boom in house prices which clearly cannot go on.
The current situation represents a TRIPLE WHAMMY for all us would be POMS of whatever visa persuasion. - A STRONG DOLLAR, BOOMING AUSSIE HOUSE PRICES AND STAGNANT OR BARELY RISING UK HOUSE PRICES
The best we can hope for is a soft landing for the housing market followed by the Reserve Bank reducing interest rates (thus steming the inflow of US and Japanese capital) followed by a weakening of the A$. - DON'T HOLD YOUR BREATH!!

Excellent answers, thank you!
I guess at the end of the day it is out of my control so I will just have to take what happens.
Its only money!!

[This message was edited by Paul on 12-08-03 at 09:40 PM.]