Muz

Anyone else been watching our plummeting dollar?

3 months ago it was worth $0.80c against the greenback and now it's down to $0.70c.

This is great news for exporters (like me) of course but must be a bit of a bummer for people importing their S2000 goodies into Australia from overseas.

tothemaxx

Yes you can say that again...should of changed the money over at that time. I knew that 80 cent would be too good to be true for that long.

AusS2000

Yes, but 6 months ago it was 55

Muz

[QUOTE]Originally posted by AusS2000
Yes, but 6 months ago it was 55

AusS2000

OH well it's been a lot lower than it currently is.

Then again I remember having a few USD when I was at school and getting $AUD1.40 for each of them.

naishou

I watch the currency markets every day. The Australian dollar overshot on the back of very high resources prices and because we started raising interest rates before the US and Europe. Now resource prices are coming off and the European central bank raised rates already with the US to follow, while our rates may not rise again for a long time or even go down. However, I don't think we'll see the US46c level (I think this was the all time low) again for a long time. I have a feeling resource prices are not going to fall far (even if China's rate of growth falls) and the US rates will stay at historically low levels for a long time yet. This, with the the US's huge budget and trade deficits, should mean that the US dollar continues to weaken in the long term. That said, the Australian dollar still may weaken to its previous lows against other currencies as long as our rate of inflation is higher than our major trading partners.

Did you get all that?

AusS2000

You need to get out more.

cashout

I am with Muz. It is good news for me, not because I am exporter thought.... (personal reasons).

I wish it went back to $55c (two years and a big ago)... not indefenetely... just long enough to benefit me :-)

naishou

[QUOTE]Originally posted by AusS2000