USD AUD future exchange rate

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Created by

Harrow > 9 months ago, 15 Sep 2018

Cambodge

VIC

851 posts

20 Sep 2018 2:45pm

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FormulaNova said..

Harrow said..

Little Jon said..
Avoid risk of currency loss and get paid AUD. If you want to play the market, do it after you get paid.

I'm always surprised by the people that tell me I should obviously choose USD. I ask them if they hold USD or AUD in their savings and their tune changes very quickly. They're effectively telling me to buy hundreds of thousands of USD futures, but won't even hold USD in a bank account for themselves. Ha, so far the money has never been where the mouth is.

Its not that easy. I have held about $1000 USD in a CBA travel card. I.e. it gets no interest and they screw you over a tiny bit on the exchange rate and then hit you with fees if you use it the wrong way. In my case, a cash advance even though its already your own cash, they hit you with a fee.

So, don't assume that your case is the same. Most people have to convert to USD first and then back to AUD for spending, which isn't easy in Australia as far as I can tell.

Transferwise.com

JulianRoss

544 posts

20 Sep 2018 4:41pm

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Harrow said..

myusernam said..
why would you when the USD is 30% more and likely to be for the forseeable future? especially if our economy tanks from the property squeeze. surely any conversion costs are minimal.

Haha. yeah I wish I was being offered the same number of dollars in USD. Nope, I am being offered the equivalent value in USD, calculated on today's exchange rate. Then I would win or lose if the AUD goes up or down over the next couple of years. Or I have the option of just locking in AUD now.

OK Harrow, no one else will bite.
You've described some fairly flexible work conditions over various sea breeze pages.... what is it that you actually do?
Also, I have no idea about getting paid in USD.....

Harrow

NSW

4521 posts

21 Sep 2018 1:20pm

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JulianRoss said..
OK Harrow, no one else will bite.
You've described some fairly flexible work conditions over various sea breeze pages.... what is it that you actually do?
Also, I have no idea about getting paid in USD.....

No great mystery, most here already know I'm an electrical engineer. Now I'm consulting to a silicon valley company, being paid a regular monthly retainer. During the summer It's 8pm in San Francisco when it's 3pm here. At long last I get the sailing life of a tradie!!

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