Rare TLCOhio Posted July 24, 2016 #1 Share Posted July 24, 2016 Currently, one Australian Dollar costs just 75 cents. When we were there 18 months ago, that currency cost was about 88-90 cents. Two or three years ago, the cost for an Aussie dollar was up to about $1.05. Today one New Zealand Dollar costs about 70 cents. Below are detailed charts that give that history over the past five and ten years. Interesting trends and shifts. Clearly based on these rates, it offers another very good reason to be visiting these two wonderful nations. Any predictions as to the future trends and directions on currency values? Appreciate those who have dropped by and visited my live/blog for our exploring down under. Yesterday, this live/blog went over 150,000 views. Glad to know there is so much interest in both Australia and New Zealand. They get the credit for being so wonderful, amazing and scenic. Plus, both countries having nice, fun people there. Don't be shy in asking any questions, sharing your background and experiences there, etc. THANKS! Enjoy! Terry in Ohio Enjoyed a 14-day, Jan. 20-Feb. 3, 2014, Sydney to Auckland adventure, getting a big sampling for the wonders of "down under” before and after this cruise. Go to: http://boards.cruisecritic.com/showthread.php?t=1974139 for more info and many pictures of these amazing sights in this great part of the world. Now at 150,242 views for this posting. Per http://www.xe.com, below are the five- and ten-year trend charts of the value of the Aussie Dollar versus the U.S. Dollar. Interesting shifts and opportunities?: Per http://www.xe.com, below are the five- and ten-year trend charts of the value of the NZ Dollar versus the U.S. Dollar.: Link to comment Share on other sites More sharing options...
Karennella Posted July 24, 2016 #2 Share Posted July 24, 2016 Of course WE all hope our dollar will strengthen! It is a complex question as the Aussie dollar is a speculative currency which moves according to conditions overseas, outside the control of our government. When the financial crisis hit in 2008, even though the US was very much affected, money flowed into the US as a safe haven. We did not have a recession and have not had one for twenty-five years. Yet our dollar plunged. I think it is likely to stay around the current level if one must make a guess. It is at the level preferred by the government, not that they can do too much to influence it. It is also probably at an average historical level. I tend to buy US cash when the level is good and keep it for another trip. Link to comment Share on other sites More sharing options...
Rare TLCOhio Posted July 25, 2016 Author #3 Share Posted July 25, 2016 Of course WE all hope our dollar will strengthen! It is a complex question as the Aussie dollar is a speculative currency which moves according to conditions overseas, outside the control of our government. When the financial crisis hit in 2008, even though the US was very much affected, money flowed into the US as a safe haven. We did not have a recession and have not had one for twenty-five years. Yet our dollar plunged. I think it is likely to stay around the current level if one must make a guess. It is at the level preferred by the government, not that they can do too much to influence it. It is also probably at an average historical level. I tend to buy US cash when the level is good and keep it for another trip. Appreciate this good and insightful background on the values for the Aussie dollar. Lots of factors involved. Always hard to guess and figure out these future trends. BUT, interesting to know more history on these varied shifts. THANKS! Enjoy! Terry in Ohio AFRICA?!!?: Lots of interesting and dramatic pictures can be seen from my latest live/blog at: http://www.boards.cruisecritic.com/showthread.php?t=2310337 Now at 17,814 views for this reporting and visual sharing that includes Cape Town, all along the South Africa coast, Mozambique, Victoria Falls/Zambia and Botswana's famed Okavango Delta area. Link to comment Share on other sites More sharing options...
Globaliser Posted July 30, 2016 #4 Share Posted July 30, 2016 Of course WE all hope our dollar will strengthen!Really? You shouldn't. The period of strength of the Australian dollar that shows clearly in the charts (2009-2015) was a period of pain for a large part of the Australian economy. On a nationwide basis, it was concealed by the strength of the resources sector which was the main driver of the high value of the Aussie. But much of the rest of the economy was at risk of withering precisely because of the overvalued currency. The phenomenon actually has a name coined by economists: "Dutch disease" (the link is to the Wikipedia article on it), and it is dangerous because when the resources boom ends and the currency falls, the country concerned can find that the remainder of the economy is now too weak to grow quickly, yet vital imports that still have to paid for now cost a lot more than they used to because the currency has fallen. I rather suspect that a sustained period of the Aussie being somewhere at its current levels would do the Australian economy some good. Link to comment Share on other sites More sharing options...
Karennella Posted July 31, 2016 #5 Share Posted July 31, 2016 Yes I agree, mostly, but on the selfish personal level it is nice to be able to spend more freely when travelling. I know what you are saying but I actually think the economy is not too bad and is transiting satisfactorily. I may be biased as I am in NSW. As inflation is now below the desired level, consumers are finding most things other than Sydney real estate to be cheaper than ever. In any case, if the dollar does get much above 75 I will be buying currency. Link to comment Share on other sites More sharing options...
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