The $

[aussietravellers]

That would be me We go in 19 days. I told my DH a couple of months ago that we should change our money but he wanted to hold off. Now we're stuck with a crappy exchange rate

Anyway, we went to ANZ yesterday and they offered us 77c. I argued with her that it was 81c and she gave me the blah blah blah about the bank rate always being less. We ended up only changing $1000 just to get the travel card started and decide to wait and see what happens in the next few days. Out of interest we went to CBA and their rate was 80.5! I was so pissed off at ANZ! Anyway, we ended up putting the rest of our money on a CBA travel card there and then. If it goes up, oh well but we couldn't really pass up 80.5 especially as ANZ was offering a lower rate.

Gosh, what a naughty ANZ. It certainly pays to shop around! I hope the rate goes up for you

Thanks for the info on the different banks too by the way, I was probably going to go to the CBA or NAB so I will avoid the ANZ as I am not getting a travel card, just travellers cheques

 

[PrincessInOz]

When we went in 08 it was .95 and in December 09 it was .93, we have lucked out with a great rate for the last couple of years. I guess .83 is still ok in the grand scheme of things, when I consider that everything is paid for in the way or airfares and accommodation. Just have to pay for meals and shopping, still hoping will go up a little.

I think I will change some next week (Thanks to Queenie and PrincessInOz I am going to dabble in Traveller Cheques once again after a long exit from their use ) and just see how it goes, if it starts to drop again I'll get more and if it goes up, I'll just keep watching then jump in again.

FYI - If buying TCs, I've found that the worst denomination will be the $100 TC for most shops. If I take $100's, I spend these when I'm shopping and have definitely spent more than $75. These days, I just take $50's. Mostly everyone is happy to break and provide change for $50.

 

[PrincessInOz]

That would be me We go in 19 days. I told my DH a couple of months ago that we should change our money but he wanted to hold off. Now we're stuck with a crappy exchange rate

Anyway, we went to ANZ yesterday and they offered us 77c. I argued with her that it was 81c and she gave me the blah blah blah about the bank rate always being less. We ended up only changing $1000 just to get the travel card started and decide to wait and see what happens in the next few days. Out of interest we went to CBA and their rate was 80.5! I was so pissed off at ANZ! Anyway, we ended up putting the rest of our money on a CBA travel card there and then. If it goes up, oh well but we couldn't really pass up 80.5 especially as ANZ was offering a lower rate.

OUCH! I bank with CBA and my friendly manager has always waived the $8 charge if I'm changing money in cash and for amounts less than $500. Every saving helps!

 

[aussietravellers]

That would be me We go in 19 days. I told my DH a couple of months ago that we should change our money but he wanted to hold off. Now we're stuck with a crappy exchange rate

Anyway, we went to ANZ yesterday and they offered us 77c. I argued with her that it was 81c and she gave me the blah blah blah about the bank rate always being less. We ended up only changing $1000 just to get the travel card started and decide to wait and see what happens in the next few days. Out of interest we went to CBA and their rate was 80.5! I was so pissed off at ANZ! Anyway, we ended up putting the rest of our money on a CBA travel card there and then. If it goes up, oh well but we couldn't really pass up 80.5 especially as ANZ was offering a lower rate.

I just looked at the NAB site and their rate at this exact moment is .79c

Just did a conversion on the CBA site and I got $3 less than I would have with the NAB, so their rate today is very similar to the NAB

 

[aussietravellers]

FYI - If buying TCs, I've found that the worst denomination will be the $100 TC for most shops. If I take $100's, I spend these when I'm shopping and have definitely spent more than $75. These days, I just take $50's. Mostly everyone is happy to break and provide change for $50.

Thats great to know thanks! I'll just get 50's

 

[Sugarglider]

In all of my travels over the last 5 years I have found that the best rate is from the bank when doing a direct debit off the card. Also the debit card has no fees (either account keeping or exchange) so I get the highest payout.
The rate they show on TV is the gross rate through the RBA. It costs the banks a bit more so the rate a customer is always 2 or 3c lower.

 

[PrincessInOz]

Anyone else watching the rise and rise of the dollar today?

Rally on mining stocks has helped the dollar. If this continues overnight on the NYSE and European markets, it may climb back above 84 cents...

Once there, it will likely hover between 83.5 - 85.5 cents.

 

[kazbar]

85c this morning

http://www.forexdirectory.net/aud.html

 

[DizOz]

Hopefully the dollar is like that little red train climbing the hill,"I think I can, I think I can" as it heads back to 90 cents. If it gets there again first thing I am doing is paying for the the entire trip instead of waiting for the due date later in the year.

We were spoilt in Dec 07 when it was between 93 and 95 cents for our entire trip.

Anyway I will be keeping an eye on it.

 

[platypus67]

Noticed the dollar back up over .85 this morning. Will wait a little longer to put some cash on my travel card as we had the airfare expense this month.

 

[PrincessInOz]

There is usually support/resistance for the dollar around 85.5 cents. It may test this barrier over the next day or so. This support will hinge on the resources market.
If the bulls push it past this barrier, the next one is traditionally somewhere in the 87 cent mark.
If the bears win, we'll be back at the 82 - 83 cent mark.
If neither takes hold, then we'll be at 83 - 85 cents for a while.

My personal opinion - but I'd try and buy some before the next Reserve Bank meeting, which is the 1st Tuesday of every month - just in case. They have said that they are going to "pause"; but the market usually trades again after the meeting "on certainty". I don't believe that the market has factored any speculation of the interest rate rises in the Aussie dollar right now. But basing this on previous action, it's very likely that if the "certainty" result is no change to interest rates, the dollar is likely to drop a little bit.

 

[queenie82]

You sound like my brother discussing the resistance points
It is indeed speculation but it is all based on solid referencing of movements.

Just looking on my dashboard widget and it says 0.8519

I hope it gets to the 87 but the 85 point is tolerable for now.

 

[aussietravellers]

Gosh I almost changed some money on Tuesday. The commission free rate from Australia Post was .80. I was at the post office, then had to go to the bank to get the money and then go back to the post office and couldn't be bothered running around so I didn't go back.

I'm so glad I didn't change it now. Hopefully it will stay like this or go higher and I will definately return on Monday and change some, I know they offer a great rate compared to the banks, so I won't need to check their rate I'll just do it

Come on $$$$ do the right thing by we travellers to the USA.

 

[Sugarglider]

Gosh I almost changed some money on Tuesday. The commission free rate from Australia Post was .80. I was at the post office, then had to go to the bank to get the money and then go back to the post office and couldn't be bothered running around so I didn't go back.

I'm so glad I didn't change it now. Hopefully it will stay like this or go higher and I will definately return on Monday and change some, I know they offer a great rate compared to the banks, so I won't need to check their rate I'll just do it

Come on $$$$ do the right thing by we travellers to the USA.

how do you find out what the Aust Post exchange rate is? do you have to go to the branch to get the rate?

 

[aussietravellers]

how do you find out what the Aust Post exchange rate is? do you have to go to the branch to get the rate?

I got the rate when I went into a post office. I had called NAB, Comm, Westpac so I knew what their rates were that day and Australia was as good as the banks and they don't charge commission. But they may give you the rate over the phone, I just happened to be in the post office anyway so thought I would check.

 

[teskak]

How much do you guys change here vs using the atm over in usa? I was enjoying the aussiie being worth 95c. But still it is better than in the bottom of the banana republic when we were in Hawaii and it was 56c - that made even foodhalls expensive

 

[kazbar]

If you are changing quite a considerable amount of money it is worthwile checking out the rates at Arab Bank. Thier rates are usually a few cents above the banks, especially if you are changing $2000 or more

 

[zaccy]

If you are changing quite a considerable amount of money it is worthwile checking out the rates at Arab Bank. Thier rates are usually a few cents above the banks, especially if you are changing $2000 or more

Thanks for that tip - I'll have to check that out. I would not have thought to have looked there.

 

[aussietravellers]

If you are changing quite a considerable amount of money it is worthwile checking out the rates at Arab Bank. Thier rates are usually a few cents above the banks, especially if you are changing $2000 or more

Have never heard of Arab Bank. Just googled them and they are not in Queensland, that's why I have never heard of them. Pity i would have looked at them offering great exchange rates.

 

[aussietravellers]

Last week when the $ was at about .82 the rate to buy cash or travellers cheques at the banks and post office was .80.

Now the $ is at .84 and I checked their rates again thinking it would be about .82 and no.... it's .80 The rate has gone up, just a little, but the rate they will exchange has not changed Why is that?