• Moneycorp currency Transfers
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    1. #1

      Senior Member
      Join Date
      Oct 2008
      south east, adelaide
      40 times

      Question not very clever at working out best exchange rate - please help!

      I have been looking at exchange rates recently (wanting to transfer GBP/AUD) through ozforex.

      I cannot work out for the life of me if the interest is moe AUD at say 0.63 (as advertised today) or 0.65. Can someone please advise, its probably really simple, but not as simple as me (clearly). I want the most AUD for my GBP, and need to keep checking daily for this.

      Any help much appreciated.:v_SPIN:

    2. #2

      Senior Member
      Join Date
      Jun 2008
      Highbury, SA
      4221 times
      65pence is what one aussie dollar is worth, so if you are changing your aussie dollars into pounds, then the more pence you get the better (so 65 is better than 63), but if you're doing it the other way round - i.e. changing your pounds into dollars, then you want one dollar to cost as few pence as possible - so 63 would be better than 65! Any help?

      Wanting the most aussie dollars for your pounds is the same as wanting to pay as few pounds (or pence in this case) as possible for each dollar you buy.

      I always think of it like something less confusing than money - I want to buy bananas (aussie dollars) with my pounds/pennies, so the cheaper the bananas are (i.e. the least amount of pennies), the more I get!
      Sometimes the grass will appear greener on the other side because it has been fertilised by bull****



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