Aussie Dollar

[Farma]

Now’s the time to find a hotel with exchange facilities that aren’t on the ball.

Going back to early 85 when the $Oz was about 18 Baht I changed some into Baht at Betong for 22. The money exchange booth took a couple of hundred dollars off me and would have changed more if I had it. Their exchange rate board hadn't been changed in years.

Apart from a small bank branch in Oz that gave me 10x the going rate when I bought Malay Ringgit years ago it was the only time I’ve made money out of currency exchange.

[Farma]

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???

In some ways there is method in madness for currencies tied to the US$. This is one method I’ve used to my advantage in the past.

Change Saudi Riyals into dollars then change into baht on arrival in Thailand.

375 Saudi riyals x 7.31 = 2741.25 Baht

Or

375 SAR = US$100

US$100 x 34 = 3,400 Baht

I haven’t figured out a way to do it with Oz$ yet.

[foxxx]

$1k AUD is down to 22,500 THB, after bank fees getting it here you're only getting around 21,000THB for the $1k AUD now.

as an aussie with 70% of his income from Aus, it clearly sucks, when is this crazy freefall going to stop. and what's really causing it...

sure the aus dollar was overvalued and what not, but there's got to be something else at play, something big.

not may other countries are falling as hard as Aus against the USD.

http://www.exchange-rates.org/history/THB/AUD/G/180

http://www.exchange-rates.org/history/USD/AUD/G/180

[lannarebirth]

$1k AUD is down to 22,500 THB, after bank fees getting it here you're only getting around 21,000THB for the $1k AUD now.

as an aussie with 70% of his income from Aus, it clearly sucks, when is this crazy freefall going to stop. and what's really causing it...

sure the aus dollar was overvalued and what not, but there's got to be something else at play, something big.

not may other countries are falling as hard as Aus against the USD.

http://www.exchange-rates.org/history/THB/AUD/G/180

http://www.exchange-rates.org/history/USD/AUD/G/180

There is something else at play, and it is something big. It is called the carry trade. that was the mechaism that took the $AUD up over time, with leverage. It' is a forced unwind and what's been done is being undone, rapidly, without the benefit of choosing optimum sell points.

Edited October 8, 2008 by lannarebirth

[foxxx]

yeah, i wish the thai baht would crash as well though. :|

[Mighty Mouse]

Our struggling Aussie dollar took another battering overnight (Wed) falling well into the danger zone. Currently there is very little to support its current level and it may well fall further.

On the bright side (if there is one in this financial market mess) the US bond market was down big time Wednesday whilst gold shares rose.

The bond market usually looks way ahead of the stock market so the big drop in bonds suggests that the worst may soon be over.

[0Mix1up]

its pathetic

the aud should be supported by the reserve bank

NOW

<deleted> are they doing sitting on their hands

you would think the australian economy had gone belly up based on the dollars rate against most others

Edited October 8, 2008 by 0Mix1up

[GungaDin]

its pathetic

the aud should be supported by the reserve bank

NOW

<deleted> are they doing sitting on their hands

you would think the australian economy had gone belly up based on the dollars rate against most others

Krudd will tell us not to worry....

[harrry]

I am beginning to think Australia may be better off than many other places. At least a large percentage of our exports are denominated in other currencies. It may be we have taken a big hit now and maybe a few more to come but have some chance of getting through it not like the new Russian state of Iceland.

[patongster]

Well this is really pathetic now, back in July I was getting 20,000 baht for around $650 aud, now it would cost me just over $900 for the same amount. I feel for you aussies in Thailand at the moment. The SINGAPORE DOLLAR is getting more than the aussie at the moment.

Edited October 9, 2008 by patongster

[samuibeachcomber]

Now's the time to find a hotel with exchange facilities that aren't on the ball.

Going back to early 85 when the $Oz was about 18 Baht I changed some into Baht at Betong for 22. The money exchange booth took a couple of hundred dollars off me and would have changed more if I had it. Their exchange rate board hadn't been changed in years.

Apart from a small bank branch in Oz that gave me 10x the going rate when I bought Malay Ringgit years ago it was the only time I've made money out of currency exchange.

where is this hotel,where is this bank.............mayday mayday!!!!!!!!!!!!!!!!!!1

[samuibeachcomber]

its pathetic

the aud should be supported by the reserve bank

NOW

<deleted> are they doing sitting on their hands

you would think the australian economy had gone belly up based on the dollars rate against most others

Krudd will tell us not to worry....

according to the "australian" thats exactly what he's just said.It does seem an extraordinary collapse against the USdollar,just wish the thai baht was allowed to float against other currencies just like the aussie dollar.Will be camping outside 711 very soon.

[zorro1]

Spare a thought for those transferring for condo purchase. OUCH

[Farma]

I’m a little worried about who Krudd works for. It was only the other day he said china would save us.

[GungaDin]

Has Costello had anything to say?

edit: apart from "buy my book"

Edited October 9, 2008 by GungaDin

[Farma]

Bangkok bank shows it's moved into the 23 Baht range now. Fingers crossed it keeps heading up.

[Naam]

its pathetic

the aud should be supported by the reserve bank

NOW

<deleted> are they doing sitting on their hands

you would think the australian economy had gone belly up based on the dollars rate against most others

-the only one who sounds pathetic is you

-Oz central bank did the opposite of supporting by lowering interest rates

-perhaps they like sitting on their hands. people do have different sexual preferences

-exchange rates do not necessarily reflect the status of an economy

do not send any money. any advice given by me is free of charge.

[harrry]

[

-Oz central bank did the opposite of supporting by lowering interest rates

-perhaps they like sitting on their hands. people do have different sexual preferences

-exchange rates do not necessarily reflect the status of an economy

do not send any money. any advice given by me is free of charge.

Wasn't the lowering of it rate in order to ease local mortgage stress unlike the lowering that about 6 major players have done since.

Edited October 9, 2008 by harrry

[midas]

If this is exchange rate when there are scenes

of tear gas cylinders being fired on the street and

riot police walking down the street at night,

I wonder what it would be right now

if there was perfect political stability in Thailand ?

[Livinginexile]

Bangkok bank shows it's moved into the 23 Baht range now. Fingers crossed it keeps heading up.

At 22c today, geez whats going on?

I bought a condo @ 30.5 bht early this year. Imagine transfering money now!!

It's pretty scary whats going on out there at the moment.

[zorro1]

Bangkok bank shows it's moved into the 23 Baht range now. Fingers crossed it keeps heading up.

At 22c today, geez whats going on?

I bought a condo @ 30.5 bht early this year. Imagine transfering money now!!

It's pretty scary whats going on out there at the moment.

You did better than me I got 29.5 but now thinking of selling. 1000 bht in OZ is 42 dollars now!!!!

http://webapps.stgeorge.com.au/foreign-exc...ubmit=submitted

Edited October 11, 2008 by zorro1

[naklang]

Why is the US dollar so strong at present,when the UK pound is also in decline.

The old adage "He who has the biggest Navy wins." In times like these, not an insignificant thought. At the end of the day, firepower or the threat of it, gets oil to your shores and food to your people. North Sea production has been in decline for years and Britain is now in an increasing net import situation for the indefinite future with no significant military influence to guarantee energy supply. In 10 years, likely to be a slave to Russian energy. Not a good position to be in. Iceland just made a deal with the devil and will be a very different place from now on.

[GungaDin]

http://finance.google.com/finance?q=AUDUSD

Meet up with your ozmates outside a 7-11 from now on.

[0Mix1up]

its pathetic

the aud should be supported by the reserve bank

NOW

<deleted> are they doing sitting on their hands

you would think the australian economy had gone belly up based on the dollars rate against most others

-the only one who sounds pathetic is you

-Oz central bank did the opposite of supporting by lowering interest rates

-perhaps they like sitting on their hands. people do have different sexual preferences

-exchange rates do not necessarily reflect the status of an economy

do not send any money. any advice given by me is free of charge.

you gave no advice only making a pissweak comments

but anyone who thinks of the water in and around pattaya

will think of you

[zorro1]

http://finance.google.com/finance?q=AUDUSD

Meet up with your ozmates outside a 7-11 from now on.

Dont come to my 711 in soi 11. The steps there are small and crowded with oz and with the pound we are really scared the brits may start arriving soon

[Naam]

its pathetic

the aud should be supported by the reserve bank

NOW

<deleted> are they doing sitting on their hands

you would think the australian economy had gone belly up based on the dollars rate against most others

-the only one who sounds pathetic is you

-Oz central bank did the opposite of supporting by lowering interest rates

-perhaps they like sitting on their hands. people do have different sexual preferences

-exchange rates do not necessarily reflect the status of an economy

do not send any money. any advice given by me is free of charge.

you gave no advice only making a pissweak comments but anyone who thinks of the water in and around pattaya

will think of you

i don't give advice but state facts in order to place the pissweak comments of some ignorants into the right perspective

[ray08]

$1k AUD is down to 22,500 THB, after bank fees getting it here you're only getting around 21,000THB for the $1k AUD now.

as an aussie with 70% of his income from Aus, it clearly sucks, when is this crazy freefall going to stop. and what's really causing it...

sure the aus dollar was overvalued and what not, but there's got to be something else at play, something big.

not may other countries are falling as hard as Aus against the USD.

http://www.exchange-rates.org/history/THB/AUD/G/180

http://www.exchange-rates.org/history/USD/AUD/G/180

There is something else at play, and it is something big. It is called the carry trade. that was the mechaism that took the $AUD up over time, with leverage. It' is a forced unwind and what's been done is being undone, rapidly, without the benefit of choosing optimum sell points.

Carry trade plays , as funds unwind there position is part of the reason causing rate to fall ,and news about a slowdown in world economy and Australia being a commodity backed country has also added to the mixture, it is oversold right now ,but next week could be thb 20 or thb 25 to Aud ,market has no real fundamentals in play ,just panic trading

[roamer]

$1k AUD is down to 22,500 THB, after bank fees getting it here you're only getting around 21,000THB for the $1k AUD now.

as an aussie with 70% of his income from Aus, it clearly sucks, when is this crazy freefall going to stop. and what's really causing it...

sure the aus dollar was overvalued and what not, but there's got to be something else at play, something big.

not may other countries are falling as hard as Aus against the USD.

http://www.exchange-rates.org/history/THB/AUD/G/180

http://www.exchange-rates.org/history/USD/AUD/G/180

its pathetic

the aud should be supported by the reserve bank

NOW

<deleted> are they doing sitting on their hands

you would think the australian economy had gone belly up based on the dollars rate against most others

Lets face it, if the global economy is heading for a recession, if not depression, you don't need as much fuel for the boilers so no mystery there if the markets see the aussie economy as under threat

On the other point about supporting the aussie dollar it would simply be throwing money away at this point...keep it until next week when you might really need it !!

Its really only a matter of time before the baht takes a hit if that makes you feel any better

[KhaoDam]

Lannaman...Nice. Thanks for the Dennis Gartman insight. He is truly head and shoulders above all the other talking econ heads...even Rodgers is behind Gartman in my book.

[VegasVic]

Bangkok bank shows it's moved into the 23 Baht range now. Fingers crossed it keeps heading up.

At 22c today, geez whats going on?

I bought a condo @ 30.5 bht early this year. Imagine transfering money now!!

It's pretty scary whats going on out there at the moment.

The Aussie dollar got way way overvalued because of the massive bubble in worldwide commodity prices and the Yen carry trade, as commodoity prices continue to fall and the Yen carry trade continues to unwind the Asuie dollar will also continue to fall. Those Aussies living in Thailand, much the same as the Brits and many of the Europeans, will have double trouble because the BOT is in a battle to stop the baht from weakening further vs. the U.S. dollar, thereby basically peging the baht to the dollar for the foreseeable future. This creates the "double trouble" for those expats mentioned because as their currencies weaken vs. the Dollar they also weaken vs. the baht, since the baht is not allowed to weaken on its own (at least for now, the BOT will eventually run out of ammo to support the baht) thereby creating the large downward moves in the exchange rate for the Aussie dollar,Pound and Euro in Thailand!