# Converting my USD



## Indie (6 October 2008)

Hi All

I bought $300k USD a couple of weeks ago at .82 by moving the funds from my CBA account (AUD) into a USD CBA account I set up. Anyway, I've made a small gain and would like to convert about USD$150k back to AUD. Can anyone give me some advice on where I can get the best rate? CBA are quoting around 1.28 (USD-AUD) which seems a bit light considering AUD is .74 or so. I don't have much experience trading currency and any advice would be appreciated.


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## tayser (7 October 2008)

You're only looking at the retail rates - they intentionally give really ****house spreads because this is the market the average joe is exposed to when they go overseas and need to convert a couple of thousand dollars for travel money... the volumes you're looking at are more akin to the real interbank FX market...  $100,000 is a standard lot so ring CBA up themselves and say you want to convert back but don't want to pay the retail spreads.


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## Indie (7 October 2008)

Thanks Tayser.


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