The Aussie Dollar!!!!!

AdrianZachary said:

I remember going to the States in 2001 and was only getting 0.47 in the dollar. Now that was an expensive trip!!!!!!!

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I was there in late 2008 just at the height of the GFC and when the $ went from the high 80c range to about 60c overnight.

siegeandspike said:

Is there any way to add US$'s to your paypal account??

ie can I put $500 aus dollars into my paypal account and then have it converted into US dollars and leave it in there till I need it??

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I think your primary account balance would have to be in USD

I have been buying buying buying !!!!! So much cheaper than 12 months ago. Again, I with some OCT member, the Aussie dollar would not hold at that level very much longer. If we are be lucky, we could be on parity with the US dollar but it would definitely spiral down back to the 70c or 80c per dollar. Buy while you still can. Over and out.

hey guys whether you remember it or not I am a stockbroker so this stuff is right up my alley. I'd expect the AUD to hit parity very soon and maybe go as far as the 1.05 mark. I have heard forecasts of 1.20 but i think thats too far. The reason our dollar is so strong is a number of factors. The biggest factor is weakness in the US dollar due to the fact the fed is about to print another $1.5 Trillion in cash to stimulate the economy. Another factor is what they call a carry trade. Where people borrow in US dollars as rates are so low there and then convert it to AUD and invest in high yielding accounts as our rates are so much higher. The final factor is China and their thirst for our resources. China is still running at 10%+ GDP and will continue to be strong for the forseeable future. I can't see the AUD maintaining this long term and we wouldn't want to as it would hurt our exports too much, but until the US economy picks up and their rates start rising you will not see a massive fall in the AUD.