Changing Money

[Guest JamesP]

Hi kids,

 

hoping to have a budget of between £6000 and £7000 when i fly out to Oz in May 2011. Going to change a small amount for when i first come over, then open a bank account to put most of the rest in. Anybody got any idea what the exchange rate is like now, and what it's likely to be over the coming months?

 

Help and advice always appreciated.

 

James P

[Guest Mark Xpnsit]

No-one can ever guess the exchange rate, its a game. I would say that it appears like it will not change drastically in the short-term but who knows. Do you need the money in the short-term?

 

You need to work out how much interest you could earn here (interest rates higher) v's how much you'll lose on the exchange rate.

 

Sorry I can't be more helpful!