Aussie Dollar

[lannarebirth]

So thoeorticly. If I had 25 mill Baht..transferd to a AU account. let it sit there for 2 year or so collection interest and hoping the dollar shall rise back to around 30 baht I made a sweet profit eh???? – tax and all that crap I guess to right??

RJT,

There's a lot of blame to go around for this global finacial mess. From the government regulators to the greedy bankers, to the largely ignorant public. Don't be one of that latter group. Learn what's going on and why, to the best of your ability. Check what "guarantees are in place to preserve your capital. Know the "trend" of the currency your savings are denominated in. These aren't passbook savings accounts at the First Bank Of Commerce anymore.

[Naam]

So thoeorticly. If I had 25 mill Baht..transferd to a AU account. let it sit there for 2 year or so collection interest and hoping the dollar shall rise back to around 30 baht I made a sweet profit eh???? – tax and all that crap I guess to right??

i'd like to answer your question but i don't master the language you use (except the two question marks).

[RakJungTorlae]

So thoeorticly. If I had 25 mill Baht..transferd to a AU account. let it sit there for 2 year or so collection interest and hoping the dollar shall rise back to around 30 baht I made a sweet profit eh???? – tax and all that crap I guess to right??

i'd like to answer your question but i don't master the language you use (except the two question marks).

Its ok naam.

Being a German must be tough, I hear you bro.

[MiG16]

yes the Aus reserve bank has cut interest rate by 1%, but this comes after 7 consecutive rate rises in recent days (4 within this year itself I think...)

i thought the fall in super-funds and pensioners retirement is more tied to the crash of stock market?

by the way those that mentioned needing to transfer investment funds elsewhere...... I thought the interest rate in Aus is quite high - at least for an OECD country?

are rates higher elsewhere in stable low political risk countries?

[Mighty Mouse]

There is speculation now that America will be next to cut interest rates. This speculation has held the Aussie dollar from sinking lower. With any luck (for Aussie travelers) the Thai baht will follow the greenback down.

Apart from all that, the Aussie economy is still quite strong. The mining boom is obviously over and China has cut way back on importing Aussie ore which hasn't helped the Aussie surplus, but in comparison to other Western countries, we are still doing well.

With the world falling into recession and the DOW in crash mode, gold is glittering. Anytime that gold glitters, the Aussie dollar rises.

[Naam]

There is speculation now that America will be next to cut interest rates. This speculation has held the Aussie dollar from sinking lower. With any luck (for Aussie travelers) the Thai baht will follow the greenback down.

minus 1.52% vs US-Dollar, minus 4.02% vs Thai Baht yesterday (tuesday).

[Naam]

yes the Aus reserve bank has cut interest rate by 1%, but this comes after 7 consecutive rate rises in recent days (4 within this year itself I think...)

i thought the fall in super-funds and pensioners retirement is more tied to the crash of stock market?

by the way those that mentioned needing to transfer investment funds elsewhere...... I thought the interest rate in Aus is quite high - at least for an OECD country?

are rates higher elsewhere in stable low political risk countries?

yes, New Zealand.

[lioness]

samuibeachcomber

You passed the comment you needed to transfer funds to meet visa requirements, I am assuming funds for a retirement visa. You don't have to have the funds here, they can stay at home but you will need supporting paperwork.

[harrry]

samuibeachcomber

You passed the comment you needed to transfer funds to meet visa requirements, I am assuming funds for a retirement visa. You don't have to have the funds here, they can stay at home but you will need supporting paperwork.

Check this I strongly believe it is not true. Funds must be in a Thai baht account in a THai bank.

[Mighty Mouse]

There is speculation now that America will be next to cut interest rates. This speculation has held the Aussie dollar from sinking lower. With any luck (for Aussie travelers) the Thai baht will follow the greenback down.

minus 1.52% vs US-Dollar, minus 4.02% vs Thai Baht yesterday (tuesday).

Yes, the Aussie dollar fell yesterday but it could have fallen a lot further. It currently is $AU 0.7147 to the greenback. The danger zone is between $AU 0.68 and 0.70 to the greenback.

I believe that the speculation for an interest rate cut in the US is all that is holding it at the current level.

The Reserve has just about run out of options to save the financial industry from imploding. (What it has done thus far won't save them anyway. The bail out package was designed mainly to restore some confidence in the system. Recent market action indicates that this idea was a failure. )

The next step could be to reduce US interest rates further. The greatest fear of doing this is that other Western countries might finally dump their dollar holdings. The greenback would then be in danger of losing its world reserve status.

Edited October 8, 2008 by Mighty Mouse

[zorro1]

time to tighten the belt,what else can you do

Yes mate that's all we can do and hopefully the commodity prices will rise as long as there is demand for iron ore in China and India. It seems the central bank of Thailand keeps a rein on the baht as it is tied to the US $ so it can control the volatility. Anyway mate hang in there by the way the C.B.A has cut the rate by 100 basis point's (1%) and at last look the aussie has risen a little bit but the Baht has stayed steady.

I have done my bit to help the OZ dollar today and purchased shares in BHP. Today's opening was to good to refuse

[lannarebirth]

What just happened to $AUD?

[Farma]

I don't know.....but at this rate it could be 1 for 1 to the baht next week.

[think_too_mut]

Working and being paid in Japan, it's nice to see my salary going up 35% since may this year.

If I only had anything to spend the money on in Australia.

If I did not have to xfer A$ funds to pay my daughter's school yesterday. What was 25K A$ on Monday went up to 27.6K yesterday.

3 Minutes ago it's 31K A$. What a banana republic money it has become. Or has always been?

[GungaDin]

A$1 = us 67 cents.

[harrry]

Bt23.79

Any lower and I am getting a yacht.

[LaoPo]

Australian Dollar Falls to Five-Year Low Against Greenback, Yen

By Jacob Greber and Candice Zachariahs

Oct. 8 (Bloomberg) -- The Australian dollar slumped to its lowest level in more than five years against the greenback and the yen as investors sold higher-yielding assets on concern frozen credit markets will stall the global economy.

The local dollar tumbled for the 11th day against the U.S. currency on speculation investors will reduce bets on Australian and New Zealand assets funded by loans in Japan, where borrowing costs are lower. Increased volatility in financial markets and a rout in stock markets is damping the appeal of the so-called carry trades.

Markets are ``are pricing for the apocalypse,'' said Peter Pontikis, an economist at Suncorp-Metway Ltd. in Brisbane. ``The fear factor is really out there. This isn't rational. We're in the zone between the authorization of the U.S. bailout package and when the actual liquification of the U.S. banking system comes into effect.''

The Australian dollar fell as low as 67.49 U.S. cents, the weakest level since September 2003, before trading at 68.33 cents as of 5:02 p.m. in Sydney, from 71.50 cents in late Asian trading yesterday. The so-called Aussie slid 6.2 percent to 68.36 yen, after touching 67.32, the lowest since January 2003.

New Zealand's dollar weakened 2.8 percent to 61.15 U.S. cents from 62.92 cents late in Asia yesterday. It slid 4.6 percent to 61.17 yen.

Bloomberg

related:

Australia's S&P/ASX 200 Drops, Extending 3-year Low; Banks Fall the indexes fell -5%

http://www.bloomberg.com/apps/news?pid=206...id=aaW8G3hpCeqI

LaoPo

[harrry]

Couldn't have come at a worse time for me. I have been looking forward to heading to CM and buying a place to retire at the start of November. Now it will take 6 months for the dollar to sort out and I don't know what to do.

[clausewitz]

why dont you just changed your aussies dollars to US then come to thailand and covert your US into baht......shouldn`t that work out better???

I think the most common method is to chnage to Fiji dollard, then buy Chinese stocks, convert those into bonds then to US dollars and finally to baht. Takes a while but the savings are well worth it.

[vegas]

Aussie dollar has a yo-yo history. I used to get 16 baht to the dollar early days. It will come back as it always has. Reckon I will send some baht home shortly.

[harrry]

Aussie dollar has a yo-yo history. I used to get 16 baht to the dollar early days. It will come back as it always has. Reckon I will send some baht home shortly.

give you one au dollar for every 30 thai baht

[samuibeachcomber]

samuibeachcomber

You passed the comment you needed to transfer funds to meet visa requirements, I am assuming funds for a retirement visa. You don't have to have the funds here, they can stay at home but you will need supporting paperwork.

thats true for the first year of your stay,but after, funds have to be here.come january i will be on my third year,but thanks for post.

[mark lamai]

hurts don't it... ouch

to all those cheap charlies you see sitting outside 7-11's drinking long neck beer chang....

move over!

[Naam]

samuibeachcomber

You passed the comment you needed to transfer funds to meet visa requirements, I am assuming funds for a retirement visa. You don't have to have the funds here, they can stay at home but you will need supporting paperwork.

= bullshit²

[Naam]

There is speculation now that America will be next to cut interest rates. This speculation has held the Aussie dollar from sinking lower. With any luck (for Aussie travelers) the Thai baht will follow the greenback down.

minus 1.52% vs US-Dollar, minus 4.02% vs Thai Baht yesterday (tuesday).

Yes, the Aussie dollar fell yesterday but it could have fallen a lot further. It currently is $AU 0.7147 to the greenback. The danger zone is between $AU 0.68 and 0.70 to the greenback.

I believe that the speculation for an interest rate cut in the US is all that is holding it at the current level.

The Reserve has just about run out of options to save the financial industry from imploding. (What it has done thus far won't save them anyway. The ,6bail out package was designed mainly to restore some confidence in the system. Recent market action indicates that this idea was a failure. )

The next step could be to reduce US interest rates further. The greatest fear of doing this is that other Western countries might finally dump their dollar holdings. The greenback would then be in danger of losing its world reserve status.

13.55 GMT AUD/USD 0.6647

[harrry]

[

= bullshit²

Well that may at least be worth something Naam.....can fertalise the survival food with that.

[Naam]

What just happened to $AUD?

the shit hit the fan. as simple as that

[Naam]

[

= bullshit²

Well that may at least be worth something Naam.....can fertalise the survival food with that.

right you are. bullshit is indeed an excellent fertilizer

[Naam]

why dont you just changed your aussies dollars to US then come to thailand and covert your US into baht......shouldn`t that work out better???

I think the most common method is to chnage to Fiji dollard, then buy Chinese stocks, convert those into bonds then to US dollars and finally to baht. Takes a while but the savings are well worth it.

shame on you Clausewitz! you forgot to mention the options on Angolan Kwanza leveraged 7.5 times vs. Kazakh Tenge, maturity 31. february 2009, proceeds to be paid by a certificate stating that you own 1.795% shares of my non existing silver mine in the Rocky Mountains. result = Baht galore.

[Naam]

So thoeorticly. If I had 25 mill Baht..transferd to a AU account. let it sit there for 2 year or so collection interest and hoping the dollar shall rise back to around 30 baht I made a sweet profit eh???? – tax and all that crap I guess to right??

i'd like to answer your question but i don't master the language you use (except the two question marks).

Its ok naam. Being a German must be tough, I hear you bro.

now you talk like my wife