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Currency Exchange

  • 14-12-2010 11:47pm
    #1
    dazgib
    Closed Accounts Posts: 27 ✭


    Not really sure if this is the right section for this but here goes,
    im headin off to Australia in early February 2011 and I have €4,500 now saved to go. I've noticed that the euro has weakened against the Austrailian dollar recently so I am unsure what to do.
    I was wondering what are your opinions on the following options:
    Changing € to Oz Dollar in the bank here now?
    Changing € to Oz Dollar in February 2011 here just before I go?
    Transfer it now into my Australian Bank A/C?

    Just wondering what peoples opinions are on this?


Comments

  • #2
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    € is currently at a 10 year low against the A$..
    I don't have a crystal ball


  • #3
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,806 ✭✭✭GerardKeating


    dazgib wrote: »
    Not really sure if this is the right section for this but here goes,
    im headin off to Australia in early February 2011 and I have €4,500 now saved to go. I've noticed that the euro has weakened against the Austrailian dollar recently so I am unsure what to do.
    I was wondering what are your opinions on the following options:
    Changing € to Oz Dollar in the bank here now?
    Changing € to Oz Dollar in February 2011 here just before I go?
    Transfer it now into my Australian Bank A/C?

    Just wondering what peoples opinions are on this?

    Only way to correct answer this, is to compare todays rates with the rate in February 2011, and if you knew that, we could turn your €4,500 into enough to clear the national debt overnight...


  • #4
    Jet Black
    Registered Users, Registered Users 2 Posts: 3,845 ✭✭✭Jet Black


    You'll have to contact the bank for the rate, both here and Australia. Ask about charges.

    You might be able to get a better rate on that amount. Go to your local branch you have an account with and see if they can do you a deal.
    Think it was two to one last year.

    My opinion is it shouldn't go much below what its at now (think 1.3?) This is based my opinion only.


  • #5
    dazgib
    Closed Accounts Posts: 27 ✭dazgib


    Thanks Jet Black, thats the answer/opinion I was looking for.I think I might hang on.The rate is terrible compared to what it was. Im hoping it wont go much lower :(

    One euro now gets you approx 1.34 australian dollars. It was 1.33 yesterday. I'll report back here in Feb to see how I got on :)


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