|
|
Post by zorro1 on Dec 14, 2013 8:16:41 GMT 7
This is not good news for Dsp travelers or those sending money overseas Reserve Bank Governor Glenn Stevens believes the dollar will continue to slide. What this guy is doing is talking the dollar down and the effect was immediate with oz dollar getting dumped to US 89c. The problem I see is that if it does hit 85c it will then be in a solid down trend causing further dumping in the currency market "He said with the falling terms of trade, he expects the Australian dollar's natural level to be lower than its current rate, which was US90.24¢ on Thursday. "I thought [US]85 cents would be closer to the mark than [US]95 cents . . .but really, I don't think we can be that precise" www.smh.com.au/business/the-economy/glenn-stevens-says-aussie-dollar-needs-to-fall-further-20131213-2zapf.html |
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 14, 2013 8:30:08 GMT 7
Yes
I was shocked yesterday too.
Will be interesting over the next 12 months to see how far it falls.
To be stable again
|
|
|
|
Post by Banjo on Dec 14, 2013 10:18:44 GMT 7
I've seen the dollar crash before, I've lived in Thailand when it was 24 baht and the Philippines when it was 28 pesos.
First time I went to Bangkok it was 17.
No big deal, just tighten the belts a little.
|
|
|
|
Post by zorro1 on Dec 14, 2013 10:45:12 GMT 7
I've seen the dollar crash before, I've lived in Thailand when it was 24 baht and the Philippines when it was 28 pesos. First time I went to Bangkok it was 17. No big deal, just tighten the belts a little. Easy for you to say being a single smooth talking ,lay down my hat and its my home type Casanova who has a bed in each port, or village as would be the case in Thailand  However for the rest who may have a commitment or 2, it will cause problems, depending of course how far it falls or even if it falls at all If anyone is thinking of transferring a descent amount of cash, probably a good idea to transfer 50% now to hedge. |
|
|
|
Post by Banjo on Dec 14, 2013 11:09:25 GMT 7
Fair enough Zorro, I dare say I'd have to readjust the finances, maybe cut back on the imported bratwurst and make do with TGM.  I didn't mean to sound flippant about the sliding dollar, I suppose what we have to consider is if life overseas on a lesser income is still better than life in Australia with it's regular price increases. |
|
|
|
Post by zorro1 on Dec 14, 2013 11:23:18 GMT 7
Fair enough Zorro, I dare say I'd have to readjust the finances, maybe cut back on the imported bratwurst and make do with TGM. I didn't mean to sound flippant about the sliding dollar, I suppose what we have to consider is if life overseas on a lesser income is still better than life in Australia with it's regular price increases. I would rather eat a 10 chilli som tam and fermented fish than anything from TGM  |
|
|
|
Post by Banjo on Dec 14, 2013 11:52:27 GMT 7
The bacon crisps up nicely if you cook it long enough.....  When I was in Vientiane there was a guy used to come around the pavement bars in the evening with a little charcoal grill on his push bike. He would heat up what we called road kill squid (dry as leather and squashed flat)and serve it up with som tan that was absolutely delicious. Of course the taste buds may have been easily duped after 4 or 5 bottles of Beer Lao. |
|
|
|
Post by itsmylife08 on Dec 14, 2013 12:38:00 GMT 7
Live rates at present are 39.55 pesos per Au$1 4-38pm Aet  If it stays at that we're all ok. |
|
|
|
Post by Banjo on Dec 14, 2013 14:40:11 GMT 7
It's about 28.5 baht here, it was lower than that last year and climbed back.
|
|
|
|
Post by zingzingzing on Dec 14, 2013 16:12:09 GMT 7
Think this is What Abbott and Hockey wanted if I remember correctly.
|
|
|
|
Post by Banjo on Dec 14, 2013 17:20:17 GMT 7
A weaker dollar has a positive effect on a number of economic issues.
It makes exports cheaper and imports more expensive so Australians buy local goods.
I would go as far as to say that Holden's wouldn't have pulled the pin if the dollar was weaker.
|
|
|
|
Post by Denis-NFA on Dec 15, 2013 1:12:09 GMT 7
|
|
|
|
Post by Banjo on Dec 15, 2013 7:29:25 GMT 7
A useful tool NFA, I have used others but that is very simple to search currency trends with. A 5 year graph of the baht/AUD  |
|
|
|
Post by Banjo on Dec 15, 2013 7:32:46 GMT 7
Almost identical to the USD.  |
|
|
|
Post by zorro1 on Dec 15, 2013 11:14:51 GMT 7
Thanks NFA, looks likes oz dollar about to test 27.5
22.5 looks ugly and may have been attached to a recession or something
|
|
If it stays at that we're all ok.
