$US Australian $ conversion

[Aussie Cruisers]

How true - Our TA had a special promotion last April offerring a $100 OBC if we paid our cruise in full early - SO glad we went for it. We saved a bundle especially since the Cdn dollar was even above the US dollar then.

 

Stop rubbing it in.... :( When the Canadian dollar is at 0.66 cents then I will have some empathy.

[MMDown Under]

Kia ora,

Spare a thought for New Zealand , where current exchange rate for NZ$ is around 60cents!!

Aquarians

 

I do and it's God's Own Country. Hopefully you'll be inundated with grateful tourists.

[Kiwi Kruzer]

Its still a lot better than the days when we got .39c.

I cant believe how quickly it changes. On our HAL cruise earlier this year we got .80c

[mochuck]

I guess I was one of the lucky ones. I paid for our cruise when our $ was worth 97c, $2499 x 2 at today's rate means we saved about $2000.

 

I don't want to gloat though, I would rather that our dollar stayed higher. Its very hard to predict with the volatility of the market at the moment but theoretically our dollar should be stronger because our economy is much stronger and more regulated. But who can predict how speculators will operate.

[SelectSys]

I do and it's God's Own Country. Hopefully you'll be inundated with grateful tourists.

 

I am starting to think about it again - especially if airfares drop. It is just crazy how fast things have changed.

[Napi's Mom]

Do you think it would be wise for me to "buy" both AU & NZ $$$ right now for our trip in Jan., I noticed that the exchange rate today IS up .4 since yesterday? (Not to "not have sympathy" for your rate problem, but we are living on Fixed retirement income, modest pension & Social Security, and every advantage helps...this cruise is already very much over our budget!):confused:

[MMDown Under]

Do you think it would be wise for me to "buy" both AU & NZ $$$ right now for our trip in Jan.' date=' I noticed that the exchange rate today IS up .4 since yesterday? (Not to "not have sympathy" for your rate problem, but we are living on Fixed retirement income, modest pension & Social Security, and every advantage helps...this cruise is already very much over our budget!):confused:[/quote']

 

I would. If you're not sure, you could consider buying half. It wasn't long ago when Aussie was almost at parity with US$.

[MMDown Under]

I am starting to think about it again - especially if airfares drop. It is just crazy how fast things have changed.

 

Certainly worth considering, if you locked in the current currency rates. Even if the US$ dollar got stronger, current currency rates are a good deal.

 

The more I travel, the less I understand currency rates, especially the current volatility. I suspect there is a lot of currency speculation going on.

[sayaguru]

theoretically our dollar should be stronger because our economy is much stronger and more regulated.

 

 

Not necessarily. Our dollar was way over valued at 98c. A drop was on the cards but it has gone lower and faster than I would have thought.

 

Our dollar is worth about 70c based on the current economy and has been for quite a while.

 

I think we are unlikely to see any big changes in the foreseeable future.

I wish I had bought more US$ than I did when the rate was higher.

[Globaliser]

... theoretically our dollar should be stronger because our economy is much stronger and more regulated. But who can predict how speculators will operate.

I don't think that it's the speculators who are to blame for this.

 

The US dollar has had a period of (probably overdone) weakness because of many things dragging it down. Although it's recovered a bit at the moment, I don't think it'll last, personally. What the US government is having to do to the US financial system, coupled with the pre-existing factors which are still there, seems likely to lead to downside for the US dollar.

 

But looking at the Australian economy as a whole, there is still a large reliance on resources. And with the world economy going into recession, there is a good chance that the Aussie dollar will go down with it as demand for Australian resources declines.

 

There have been some seismic shifts in market sentiment, sure - but the fundamental drivers of the moves seem to me to be, well, fundamental.

[moojar]

I don't think that it's the speculators who are to blame for this.

 

The US dollar has had a period of (probably overdone) weakness because of many things dragging it down. Although it's recovered a bit at the moment, I don't think it'll last, personally. What the US government is having to do to the US financial system, coupled with the pre-existing factors which are still there, seems likely to lead to downside for the US dollar.

 

But looking at the Australian economy as a whole, there is still a large reliance on resources. And with the world economy going into recession, there is a good chance that the Aussie dollar will go down with it as demand for Australian resources declines.

 

There have been some seismic shifts in market sentiment, sure - but the fundamental drivers of the moves seem to me to be, well, fundamental.

 

Yes, agree with this. The AUD gained largely because the USD fell, and now the USD is on the rise again.

 

What the Oz electorate should be asking is, why are we still so heavily dependent on digging raw materials out of the ground after all these boom years? Why did we record, what, 60 consecutive months of trade deficits thru the latter Howard years? In the midst of a resources boom!! I'd wager that there are fewer non-resource related jobs out there now than there were, oh, 12 years ago.

 

LOL, don't tell me you fell for the lying rodent's BS?? ROFL!!

[MMDown Under]

Yes, agree with this. The AUD gained largely because the USD fell, and now the USD is on the rise again.

 

What the Oz electorate should be asking is, why are we still so heavily dependent on digging raw materials out of the ground after all these boom years? Why did we record, what, 60 consecutive months of trade deficits thru the latter Howard years? In the midst of a resources boom!! I'd wager that there are fewer non-resource related jobs out there now than there were, oh, 12 years ago.

 

LOL, don't tell me you fell for the lying rodent's BS?? ROFL!!

 

The unanswered question is "Why is the US$ on the rise again?"

 

I always felt Australians consumed too much, but I was pleased to hear today that Australian spending is 1/3rd, whilst USA is 2/3rds. Assuming that is true, what is going to happen to the US$ when people slow spending in a recession.

 

No wonder our PM says these are troubling times, with more to come.

[SelectSys]

... The US dollar has had a period of (probably overdone) weakness because of many things dragging it down. Although it's recovered a bit at the moment, I don't think it'll last, personally. What the US government is having to do to the US financial system, coupled with the pre-existing factors which are still there, seems likely to lead to downside for the US dollar.

 

Do you really think that the US is likely to be any more hamstrung than other countries? Consider France, an economy 1/6 the size of the US is injecting almost $500 billion to save its banks which is getting close to the $700 billion passd in the US.

http://www.eubusiness.com/news-eu/1223911022.19/

 

Merkel is also adding $640 billion in an economy about 1/5 the size of the US.

http://www.eubusiness.com/news-eu/1223899330.35/

 

... There have been some seismic shifts in market sentiment, sure - but the fundamental drivers of the moves seem to me to be, well, fundamental.

 

Once the insanity gets driven out of the market.

 

...What the Oz electorate should be asking is, why are we still so heavily dependent on digging raw materials out of the ground after all these boom years? Why did we record, what, 60 consecutive months of trade deficits thru the latter Howard years? In the midst of a resources boom!! I'd wager that there are fewer non-resource related jobs out there now than there were, oh, 12 years ago.

...

 

Because it was likely one heck of a party while it lasted. I would expect that Australia, like the US, has driven away many jobs in manufacturing and even services through a combination of government stupidity and short sighted business behavior.

 

...I always felt Australians consumed too much, but I was pleased to hear today that Australian spending is 1/3rd, whilst USA is 2/3rds. Assuming that is true, what is going to happen to the US$ when people slow spending in a recession.

 

No wonder our PM says these are troubling times, with more to come.

 

At least your PM is being honest. I do not envy our next president and the mess he will need to clean up. I am confused by your 1/3 to 2/3 comparison. I do think that our recession will be longer due to the fact that the US consumer is tapped out.

[Donaldm]

With one US dollar bringing AUD$1.60 today, I found that I could save 50-75% on cruise ship tours by booking equivalent tours myself. With this kind of savings it is worth doing the extra internet research. The CC boards are very helpful with suggestions for private tours and websites.

[Napi's Mom]

With one US dollar bringing AUD$1.60 today, I found that I could save 50-75% on cruise ship tours by booking equivalent tours myself. With this kind of savings it is worth doing the extra internet research. The CC boards are very helpful with suggestions for private tours and websites.

After noticing many independant tour operator asking fo cash, I decided to take advantage of the very favorable exchange rate right now...(which has already started upward in the last week) and purchased enough Au & NZ $$$ to pay for these tours. I know 6 mo ago when I first signed up for this upcoming cruise, the Au$ was .97 to US1$...Now it's more like .63-.69 depending on which day you check. It was low when I purchased it, and I sincerly hope it goes no lower, as that would not bode well for the whole worldwide economy!! So instead of waiting to see what it would be in Jan., for Credit Cd. payments etc, did the purchase (small fee for handling, around $30 for all). The ships tours cost far more and thats really more as they are charging in US$$, and are still way higher than local tour operators (Example...Great Ocean RD Melbourne, Ships tour $179US...can get local operators (if you can get them to pick you up after 8am, most leave earlier) at 120$ or so Au pp which is about $80US. NZ $ is even lower!:eek:

[Kinkacruiser]

What are your guesstimates re the likely movement of the Aussie dollar over the next month...stable at 66c, up or down? I shudder to think what a beer will cost us on the Tahitian Princess as the shipboard account is chalked up in USD.

Kinka

[The_Big_M]

My personal take is that I don't see a lot of chance for an increase in the AUD in the near future, so would think it's likely to be fairly stable or maybe fall slightly further. I've therefore locked in most of my US costs when the rate picked up last week. Nobody can say for sure, but I thought it better to lock a level I was comfortable with than risk further falls.

[Kinkacruiser]

Thanks Big M...Just a bit nervous about the shipboard account. Perhaps you or others can help with this query. We'd like to buy duty free Sydney (at AUD prices) on our way to Tahiti, hopefully get it through customs there and onto the cruiseliner (Tahitian Princess). Is this possible? We would like to stock up on tobacco and maybe spirit. I realise the ship would hold the spirits until the end of the cruise, but would they take DH's ciggies too?

Being new to o'seas travel, can you buy duty free exiting Aus and bring in more when returning?

Cheers,

Kinka

[The_Big_M]

Being new to o'seas travel, can you buy duty free exiting Aus and bring in more when returning?

 

I can't answer for the cruise side (although I think you're fine there), but on the duty free side, you can do the above - subject to some considerations. The Duty free retailers loved it, so they provide for that on both sides, but with the 'terrorist' related restrictions the governments have introduced limitations.

 

You can definitely take alcohol out of the country, as long as you're not connecting flights elsewhere (from another post you're getting off at your first destination so will be fine).

 

On the way back, you also have an option of purchasing on arrivals at Sydney airport if you haven't purchased already. Before you get to customs, there's a (smaller than departures) store with alcohol, tobacco and a few other things. Prices there are the same as those in departures, and they are the same chain.

 

Note in addition to purchasing at your origin and destination airports, airlines also sell duty free stock, although pricing varies depending on carrier.

 

As long as your domestic flights in Australia aren't part of an international flight, the liquid restrictions do not apply.

 

This is all subject to duty free allowances as well of course :-)

[Kinkacruiser]

Thanks Big M, good to know we can buy with AUD's here.

Cheers,

Kinka

[sayaguru]

Some speculators are predicting 43cUS for $1AUD next year.

 

Let's pray that doesn't happen.

 

I'm going to be broke by the end of 2009.

[moojar]

Some speculators are predicting 43cUS for $1AUD next year.

 

Let's pray that doesn't happen.

 

I'm going to be broke by the end of 2009.

 

Yes, I've read that - but I also read back in August that it might be down to 83c by the end of 2008! :D I wish.

 

Economists are right up there with psychics and astrologers, aren't they? :p

 

Never mind though, before long we'll be eligible to work on a cruise ship! Bow and scrape before the rich people for their spare (US) dollars! :eek:;)

[aussiedisneyfan]

And other economists we also predicting that the dollar was going to be even at some stage.

[The_Big_M]

And other economists we also predicting that the dollar was going to be even at some stage.

 

Were they economists or just market speculators? There's a lot more of the latter and a lot look at momentum rather than fundamentals. At that stage, politicians and others were also expecting better things economically.

[sayaguru]

Well it did come pretty close to being even.

Until they started talking about interest rate cuts then. WAMMO!!!