Exchange rate - 68p !!

Why oh why can't we sell our house.  The exchange rate between the Aussie dollar and the British pound is over 68p!  We'd never have thought it.  I remember reading an article when it was in the high 50's that predicted it could reach 70p.  That seemed pretty unbelievable at the time.  But, we're not far off right now.

Fingers crossed it holds out long enough for us to sell up and have money to exchange.

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!

Exchange rates.... and pick of the week - nb Rainbow Lorikeet

When we first looked at narrowboats for sale during our holiday in 2007, we were looking at what we could get for $100,000 (Australian dollars that is).  At the time it was equivalent to about £40,000.  What a difference the exchange rate fluctuations can make.  Now, in 2010, we were looking at £60,000 boats!

We have our fingers crossed that the rate won't drop back before we get to buy a boat of our own.  A lot can happen over a period of couple of years.  Look at the difference between 2007 and 2010.

This is a problem that doesn't affect most narrowboaters.  But, for those of us planning from the other side of the world it is a very important factor.  So much so that fellow Aussies Ray and Diane (coming to visit us on Sunday!), new owners of Gypsy Rover, brought forward their plans to take advantage of the favourable exchange rates.  We only wish we were in a position to do the same. It works both ways though.  For Derek and Dot, previous owners of Gypsy Rover, the huge difference in the exchange rate has worked against them. 

So every night we watch the news and check out how the Australian dollar is faring against the British Pound.  Lately it as been consistently over the .60 mark - that is 60 pence for one Aussie dollar.  We keep wishing we had money spare to buy a boat right now.  I guess we'll just have to keep buying Tattslotto tickets.

Here is our pick of the week from ABNB brokerage (wonder if Aussies named this boat.... we have Rainbow Lorikeets in our garden sometimes).  It's seems a bit expensive for its age though.

RAINBOW LORIKEET
Length: 59ft 8in  
Builder: Burton Narrowboats  
Fitter-out: Severn Valley Boat Centre  
Year registered: 2004  
Style: Trad  
Safety Certificate: 2012
Engine: Shire 45hp diesel  
Bowthruster: Tube only Plating: 10/6/5/4 
Last blacked: 2009
Fit-out materials: Cabin sides, hull sides & headling in oak faced ply with oak trim  
Insulation: Spray foam
Headroom: 6ft 5in  
Berths: 2+2 
Berth sizes: 6ft 4in x 4ft 0in permanent double, 6ft 4in x 4ft 0in double on L-shape dinette

Mains Power: Landline,1800W Sterling inverter, 3.5kW Travelpower 230V alternator
Cabin heating: Eberspacher diesel c/heating > rads, diesel stove with back boiler > rads Water Heating: C/heating + stove + engine + 230V immersion > calorifier  
Water tank: 150gall stainless steel
Cooker: Spinflo Midi Prima oven & grill - gas, 800W microwave  
Fridge: LEC 4cu ft 12V  
Washer/dryer: Zanussi Aquacycle compact automatic washer  
WC: Thetford swivel seat cassette wc  
Shower: over bath with curtain
Other: Cratch & cover. One private owner from new who sells to move abroad.
Price: £59,950