# AUD/USD exchange rate question



## EB10 (21 December 2009)

Hi
Im sorry if this is in the wrong area.

Im going overseas in january to study as an exchange student in the United States.

Our dollar was fairly strong and still is i guess, but i wanted a rate at say 90 cents +

Now it has dropped and im not sure if to wait a couple weeks to change my money across.

Commonwealth bank, who i am with offers a rate at 85cents i think, and another site OzForex offers 87cents

Im so confused if i should wait out a couple more weeks, and hope it gets to 90cents because then i will transfer

Any Advice would be greatly appreciated

Thank You
Daniel


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## akkopower (21 December 2009)

in my experience in exchanging yen to $A the best way to get a good rate is to stay away from the banks.

look in the yellow pages, search currency exchange, and ring them up and ask for quotes. put them up against each other till u have one offering u the best.

*Do not go to banks, Ring around till u get the best quote.*

The experts seem to think that our dollar will go to parity with the US over the next year. So if u trust them u should wait as long as possible


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## BradK (21 December 2009)

Post office


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## websman (21 December 2009)

Why would you carry a lot of cash?  We have plenty of ATM machines here in the U.S.


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## EB10 (22 December 2009)

Oh, well it was going to be only a couple hundred for when 1st get over there. 

Im going to use a commonweath bank card which acts as a debit card that has US dollars loaded onto it. the only fees that i receive are a loading fee and a withdraw fee of $2

The thing im confused about is, if i go through another place to exchange my cash, i dont know what my options are.

also anyone got any advice on whether or not i should wait or just exchange my cash now.


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## noirua (22 December 2009)

EB10 said:


> Oh, well it was going to be only a couple hundred for when 1st get over there.
> 
> Im going to use a commonweath bank card which acts as a debit card that has US dollars loaded onto it. the only fees that i receive are a loading fee and a withdraw fee of $2
> 
> ...




The USD is bouncing back against the Aussie and looks to have more legs yet. Perhaps the Australian mining story is just not quite good enough as banks scramble at years end for the greenback. I'm low on AUD for a while.


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## Temjin (23 December 2009)

If we all knew when it is the best time to exchange USD at a better rate than now, we would all be rich by playing the forex market.  

This is against the rules on this forum anyway.

But yes, if you do exchange, stay away from the banks. There are many other places that do currency exchange, check online too. Compare rates and save some $$$.


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