Join our investing community

Currency

Discussion in 'General Investing Discussion' started by Meggsy, 28th Sep, 2007.

  1. Meggsy

    Meggsy Well-Known Member

    Joined:
    15th Feb, 2007
    Posts:
    61
    Location:
    Brisbane, QLD
    Anyone know where I could get data on the record highs, ie, when they say on the news, the $AUD reached an 18year high against the $US.

    Is there a site that anyone uses that lists what the year high for each of the major currencies since the $AUD was floated?
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,619
    Location:
    Sydney, Australia
    You can probably work it out based on the data provided at Yahoo Finance
     
  3. Rob G.

    Rob G. Well-Known Member

    Joined:
    6th Jun, 2007
    Posts:
    717
    Location:
    Melbourne, VIC
  4. DaveA

    DaveA Well-Known Member

    Joined:
    19th Feb, 2007
    Posts:
    617
    Location:
    Sydney, NSW
    On the RBA website it only goes back to 1983.

    The daily date can be downloaded from them to now from Here
     
  5. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    I've decided that I'm booking a holiday for my wife and I when the AUD/USD hits $1.00. Might be this year, probably next year or 2009.

    The sooner it happens, the happier my wife :)

    Cheers,

    Dan
     
  6. crc_error

    crc_error The Rule of 72

    Joined:
    1st May, 2007
    Posts:
    1,367
    Location:
    Melbourne, VIC
    I assume your going to USA? Cause this would be a waste of time if then you need to convert to Euro!
     
  7. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Lol.

    Sorry I forgot to say, booking my holiday to Hawaii :)

    Cheers,

    Dan
     
  8. Rob G.

    Rob G. Well-Known Member

    Joined:
    6th Jun, 2007
    Posts:
    717
    Location:
    Melbourne, VIC
    Not applicable in this case as the price is going the wrong way, but ...

    ... hoarding foreign currency makes it a capital asset and subject to CGT (not traders !!)

    See, the Taxman gets involved in your holidays as well.

    PS: How many people got hit with the Cemex/Rinker currency issues across financial years ? Lucky people get TWO CGT events in two different years for the pleasure of having their shares taken over. One event when they sign in June, one for when paid in US$ in July.

    Cheers,

    Rob
     
  9. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Rob,

    It looks like (and of course I could be wrong) that the Aussie will eventually get to $1USD. I figure I'll go to Hawaii as it will be cheaper for me to visit compared to a year or two ago when the exchange rate was 0.70. So if I wanted to buy a newspaper in Honolulu for say 1USD with my AUD I would have to shell out AUD1.42 (1/0.70). Now (this morning Sat 29th Sep 07) SMH - Markets Index is quoting 0.8867 for me to buy USD. So as long as the newspaper in Honolulu is still 1USD it will cost me AUD1.127 (1/0.8867). Hey presto it's 25.9% cheaper than at 0.70 (roughly 0.8867/0.70).

    A long time ago it used to be really good for US tourists coming to Australia when the rate was 0.50 and even less (quite a few years ago). For 1USD they could get at least 2AUD. So for them a can of coke costing 1AUD (ok, we know a can of coke isn't that cheap) would cost them roughly 0.50USD, as there USD0.50 would buy 1AUD. Now the exchange rate being 0.8867USD to the 1AUD our US tourists would have to pay 0.8867USD for the same can of coke. That's a whopping 77% extra than if they came here a few years back.

    I'm not collecting any USD I'd only do transactions when the rate is closer in line. I'm only going to spend it, not actually trade it to make a taxable profit.

    Though they'll still get those airport taxes and fuel levys...:(
     
  10. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
  11. crc_error

    crc_error The Rule of 72

    Joined:
    1st May, 2007
    Posts:
    1,367
    Location:
    Melbourne, VIC
    how is it a good thing? It makes our exports expensive and imports cheap.. that isn't a good thing for the country..
     
  12. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi CRC,

    Like you said it makes our exports more expensive (bad thing) and imports cheaper (good thing) hence why they say fx is a zero sum game.

    It balances out in the end, just in between somebody gets burnt...

    Cheers,

    Dan