Australian Dollar drops below 40 peso.

[Hy H 1,987]

Not looking good for the future.

 Will AUD fall to US 80 cents in 2014?

“...Forecasters more divided about what's ahead for the Aussie dollar than for any other major currency....

"

 

 

According to Bloomberg - "The gap between the highest and lowest estimates of where the Aussie dollar will land by mid 2014 is the widest of forecasts for16 global currencies".

 

Estimates range between 80 cents and parity against the US Dollar.

[panther 845]

well i,m getting more for the english pound so i,m happy lol 71.00 never been this good for 3 years keep on climbing baby

[Hy H 1,987]

well i,m getting more for the english pound so i,m happy lol 71.00 never been this good for 3 years keep on climbing baby

 

Good for you.  Doing better than you cricketers then?  :moon:

 

Ozzie $ has been above 40 for a while. Maybe too long.

 

No good for my plans but I guess new boss there would like to see dollar drop even further against all majors to give exporters and tourist a chance to enjoy the fruits of the country as well.    Hopefully they will keep bank interest rates low for a year or two as well to get construction happening again. 

[Paul 55,113]

For my Aussie mates' sake, I hope it holds against the Piso. But, I hope it drops quite a bit against the US soon. That would help me out quite a bit, here soon.

 

Yeah, I know. Can't have one without the other.

Edited November 26, 2013 by Paul

[broden 57,115]

Paul you're like one of those big time illuminati currency manipulators 

[Monsoon 28,940]

Depends on a lot of factors, but for the most part the economy there is pretty predictable. 

[smidsy 265]

Strange with rates, people always think the opposite of whats the currency movement actually means, ie....

 

Aus Dollar lowers to US Dollar - good, as Aus exports are cheaper & Aus companies can increase sale, jobs etc, but imported LCD TV's & BMW's are more expensive

 

Aus Dollar highers to US Dollar - bad, as Aus exports are too expensive & uncompetitive to the world market, sales decrease, jobs are lost, but imported LCD TV's & BMW's are cheaper

 

There was a strange sense of pride in Aus when the Aus dollar was worth US $1.10

 

Yet they got sad when it was worth US $0.90

 

There's a bigger picture to be considered !

[Laurence 670]

I'm not an economist but I have often heard of governments devaluing their currency to give their economy a boost as smidsy says in his post. It may be good for the economy but bad for some of their citizens who earn money in that economy or have savings in that currency but spend it outside that country. 

Exchange rate fluctuation is just another problem that most expats have to deal with.

[smidsy 265]

I'm not an economist but I have often heard of governments devaluing their currency to give their economy a boost as smidsy says in his post. It may be good for the economy but bad for some of their citizens who earn money in that economy or have savings in that currency but spend it outside that country. 

Exchange rate fluctuation is just another problem that most expats have to deal with.

 

 

Yes, governments often manipulate their currencies. In fact its one of the reasons Ireland had such economic trouble, cause it handed over the control to Europe, so they couldnt control the boom, and everyone went a bit silly, and it crashed. Overall though, the Euro is a good thing.

 

Anyway, whats good for the economy is good for the entire country & its people as a whole ! With respect to those in Phils, the country doesnt care, and shouldnt either, whats most important is the country itself is whats important, not a few blokes in Phils(sorry!).

 

So personally, as I have been unemployed for 6 months in Perth, I would prefer a lower valued currency. And i'll drive a Honda(not buying the dodgy crap Ford & Holden make !   )

[Monsoon 28,940]

 I have often heard of governments devaluing their currency to give their economy a boost 

 

Let us hope the Philippines takes this approach. Very doubtful now with the recent turn of events though. 

[Laurence 670]

Smidsy, I hope you are not unemployed because of all those Irish expats (or damned Irish immigrants as some may call them!).