Currency exchange rate

[call of the wild]

The dollar is dropping like a brick against the Euro and is also dropping against the Australian andNew Zealand Dollar. From what I've read, the dollar is expected to continue to drop for at least the next two years.

 

It might be a good idea to exchange your dollars now for Australian and New Zealand dollars rather than wait for your Australian/New Zealand cruises.

You will save some money. How much one saves depend on how fast the dollar values decline in the next five months.

 

What do you fellow cruisers think?

[mochuck]

The Aussie dollar just jumped 2c against the greenback to 85c, but that was in direct response to US Treasury dropping their interest rate.

[newfarmers]

Yes, our dollar (the oz) has risen against the greenback over the last year but just in the last month also went down very rapidly. It's back up today to nearly 85 as muchuck has said due to the drop in US interest rates.

 

Info here says the AUD may eventually get up to 90 but will then stabilise and drop back under 85. We've hedged our cruise, making final payment early when the dollar went up but it still went another four cents higher. Compared to the 76 when we first booked the 84 we got was fantastic. We also bought USD2000 onboard credit at the same time.

 

Currency hedging is very much a lottery though.

[aussiedisneyfan]

We are tossing up whether to pay the balance of our cruise now or see it the dollar is better for us Aussies in a few more weeks.

[newfarmers]

We are tossing up whether to pay the balance of our cruise now or see it the dollar is better for us Aussies in a few more weeks.

 

 

Suppose you have to do your sums. We thought (and still think) we hedged pretty well. Even paid out onboard credit in advance.

 

We paid before final payment was due but just about due date the AUD went up again, maybe a couple of cents. We would have save maybe another 50, neither here nor there though when the whole holiday is costing us 20k+.

 

If the dollar gets to 90 I think it'll just about be out of puff (and I'll wish I'd hung off on that pre-paid OBC) but twelve months ago no-one saw it breaking 80!

 

It's all good for us Aussies though!:)