Booking a Holiday - Ausiie dollar?

[WHITEDUDE]

Im trying to save up for a holiday in thailand. But the dollar keeps going down, my mate told me to give him some money and he will send it to his thai GFs account now the exhcnage rate is $24.5, he reckons it can drop to $21 by xmas. He said it was $30 a 2 years ago and a few month:grimace: ago was $28.

I was wanting to wait til November hoping it will go up. Is there any experts that can give me some advice?

[Alpha11]

The AUD is destined to drop against the USD, IMO. However the THB is incredibly volatile so trying to predict the exchange in several months is pretty much impossible.

You don't need to send money overseas to lock in an exchange rate. Several banks, including Qantas, have multi-currency caards which you can load up with whatever currency you choose. You simply purchase the THB at any time and deposit it into the card.

Enjoy the trip.

[loaded]

Given where the economy is heading, the AUD will continue to depreciate. It will only remain stable or appreciate against currencies where the equivalent economy is doing worse than Australia's.

[Sextus]

The dollar will tank when the US starts to put up interest rates - which they say may happen in September. Pre-purchase the currency now I'd say.

[rooter]

Australia is the poor European cousin, and the rich Asian cousin.
As long as you travel in Asia (especially SE Asia) with Aussie Dollars you will be OK.
It's not as good as when the Aussie Dollar was on parity with the US Dollar but it's still very good value.

[wilisno]

Just got off the plane from an overseas trip, 100 Aussies only gave 72 U.S. ! Bummer !

[harmony]

"Australia is the poor European cousin, and the rich Asian cousin"

Well done

Oh, it wasnt that long ago when the Aussie dollar was valued higher than the US dollar !!

Great memories, how short lived that time was

Never trust the Aussie dollar to rise above the US dollar for very long !
When it happens, life like there is no tomorrow

Haha, we can dream !

[birch]

As for the Aussie tanking when the U.S. finally raise rates. I doubt it. Sure there will be wobble but the next rise or two has been priced into the market for months. Ultimately we're at above 2% and they are coming off 0%. That's around four rises to reach rate parity and that will take some time. Potentially time enough for our services, tourism and farming sectors to ramp up with the favourable exchange rates.

My bet it that the AUD will most likely hover around its current ~70cents to the USD for several years.

[AHLUNGOR]

Australia is the poor European cousin, and the rich Asian cousin.
As long as you travel in Asia (especially SE Asia) with Aussie Dollars you will be OK.
It's not as good as when the Aussie Dollar was on parity with the US Dollar but it's still very good value.


Last time I was in Hong Kong, AUD$1,000 could get me HKD$7,999 or something like that, not any more !