• Moneycorp currency Transfers
  • Results 1 to 2 of 2
    1. #1
      HIFX plc

      Latest Aussie update

      July Sees Rollercoaster Ride For Australian Dollar

      The Australian Dollar (AUD) and Sterling (GBP) went on a rollercoaster ride in the last week of July where we witnessed a four cent shift in currency in just one day.

      With the start of the world wide unwind of carry trades- where off shore investors have invested heavily in high yielding currency such as the AUD financed by selling low-interest rate currencies like the yen or Swiss franc, and the worst two day loss on the U.S Stock Markets since 2003 what this produced was four volatile days on the currency markets.

      On Wednesday (25th July) the Pound against Australian Dollar (GBP/AUD) was sitting at 2.3143, by that afternoon it had moved to 2.3602. The following Monday (30th July) GBP/AUD was sitting at 2.3924 this being a 7 cent movement. To put all of this in context if you were migrating and transferred GBP100,000 on the 25th of July you would of achieved AUD231,430. If you had transferred the same GBP100,000 on the 30th of July you would of achieved AUD239,2400 a difference of AUD7810. If we go back 12 months the same GBP100,000 would of gained you AUD251,135 a difference of AUD19,705. All of a sudden currency becomes a major part of you migration plan.

      As a new migrant heading to Australia, it is critical to start monitoring the rates of exchange as soon as possible and consider the impact the currency markets will have on your new life. HIFX, the migration currency specialists, are market leaders at protecting their clients from the risks associated with fluctuating exchange rates.

      But how can you protect your future wealth if your funds are tied up in other assets or have not yet been agreed? Even if you do not have all the funds available to you at this stage, you can buy currency with a forward contract. This is when you fix the rate of exchange at the time with a 10% deposit, but do not have to pay the remaining 90% until you need or have the money available.

      Rates can be fixed for up to 2 years and a forward contract is flexible to allow for changing time scales. By locking into an exchange rate, you are guaranteeing your future wealth or securing the cost of any purchases in both dollars and sterling.

      There is no need to put your self under pressure to change your money in one transaction and many people chose to spread the risk of volatile exchange rates by changing their money in tranches. With our office in Sydney, you can trade your currency on your arrival in your local time zone.
      Last edited by dglamoore; 10-08-2007 at 10:07 PM. Reason: advertising guidelines

    2. #2

      Senior Member
      Join Date
      Oct 2006
      Hallett Cove
      27 times
      Have to say we have registered with HIFX but we don't seem to be getting any telephone calls from them !! I am quite disappointed given the headlines above !!??

      I think I need to be speaking to someone URGENTLY !!

      Angela (43), Ashley (45), Bradley (17), Thomas (13) & Max our Spoodle (6) Visa Process 23/10/06 - granted 27/04/07. Now permanent residents as of Sept 09.
      Arrived 6th Sept 07 Living in Onkaparinga Hills. Building a new home 2014 Hallett Cove with Rivergum 2 Story & views back / front :D
      AGS Painting & Decorating PM me or email agspainting@adam.com.au


    Copyright 2006 - 2015 Australia Migration Forums