Hi everyone Kind've a bit weird and personal... but just thought I'd get some opinions anyway. In a couple of weeks, I'll be moving to the US for 2 years. In order to get my visa, I had to demonstrate I could support myself for the full 2 year period without needing to work. This was easily passed with my financial documents presented at an exchange rate of $1AUD = .96USD. However, drops down to say, 1AUD=.80USD could seriously mess things up. If you were in my position, what would you do? Convert all funds to USD now? go 50/50? or just convert as I needed need it? the last option seems the riskiest to me... It's doing my head in a bit because at the moment. Rent on a room in an apartment is $650/month when we're at parity. However, at 1AUD=0.80USD, it works out to $812.50 AUD. It could swing the other way as well... but I'm seeing this as less likely. Advice please! Thank you kindly
If the AUD appreciates against the USD then you gain and it's happy times for dimmy1985 However if the AUD goes down against the USD then you could be in a spot of bother. Hell, my old man was in Hawaii. Thought about changing his spending money over to USD but the US Army boys said "No, do it tomorrow. Our shout tonight". The next day the Aussie dollar went from parity to 0.55cents. That was in the 80's
I would probably go 50/50 if I were determined I would be staying the 2 years. That way if the AUD$ goes up more over the next year then buy more U.S. If the AUD goes down, hold it and use what US$ you have stashed. A bit like buying the dips and holding.
Sorry for some of the bad grammar - I wrote that when I had just woken up from a nap. Had a bit more of a think about it. Converting my expectant costs for the next 6 months now, and then the remaining amount at 50/50 (even 60US/40AUD) probably seems like a good way to go. just never know what the Aussie dollar is gonna do :\
Dimmy. I think Chilli is on the money with a fifty/fifty call. Play one against the other! Thats the safe way. However, if I was taking a gamble I would think that the US$ will get stronger in the short term but when will this term end, I have no idea. You are a game person going to the USA in times like these. Best of luck! Regards Errol 43
When I budget, I like certainty. In this case I'd convert it all to USD for peace of mind. Better safe than sorry and all that
Yep. Go 100% USD. Which is more likely? AUD to go to USD1.10 or AUD to go to USD0.70? If oz dollar holds or firms you've lost nicks, if it tanks, well then ..... The AUD is NOT a safe haven currency
