Sunday 22 January 2012

Exchange rate

With the exchange rate between the Aussie dollar and the British pound hitting a 27 year high we're hoping it holds out until we can get going!  The exchange rate is hovering around the 67p mark - that is one Australian dollar will buy 67 pence.  The other day it reached 68p before easing back again.

I remember thinking how lucky Ray and Diane were to be able to take advantage of the good exchange rate in mid 2010 and go and buy their boat before they were actually ready to start their life aboard.  Now Paul and Elaine are doing the same.  In mid 2010 the exchange rate was 55p and that seemed absolutely fantastic compared to the 40p we got on our trip in 2007 but here we are now with it at 67p.

I read an article that suggested the dollar would continue to strengthen against the pound.  It would be one positive thing about not having been able to sell our house so far!


Paul and El said...

We got just over 65p and I thought that was good, when you are transferring thousands of dollars it makes a big differance. The best the banks offered was 61p. I used OZFOREX. Beacause we sent enough money for the boat plus some money to live off for a few months when we get there it made a difference of over $8000

Tom and Jan said...

Hi Elle, I remember our 2001 holiday when A$1 bought 36p.

Elly and Mick said...

Paul & Elaine, you did really well! I had a look at the website for Ozforex after you mentioned it. We'll use them too I think.

Tom & Jan, doesn't it make it all more affordable now.


Jennifer and Peter said...

Hi Elly & Mick, Jennifer and Peter here in Tassie, we are just in the process of finalising our canalboat buy. We are also using Ozforex.

Tom and Jan said...

It would have been nice if we had been able to transfer the funds at the current rate. Hopefully it will revert back to 38p in four years :-)

Elly and Mick said...

Jennifer & Peter, it's good to hear another recommendation for Ozforex. Hope it all goes well for you.

Tom & Jan, we've been saying the same thing! Wouldn't it be great to buy your boat when the rate is high and sell it low. It could almost pay for your entire living costs.