Best Way to Buy $US Now for Next Years Trip??

Dave1 on 23/06/2016 - 15:01

Hi Everyone,

Planning a few weeks family trip to the US next year so just want to buy $$US now to lock in the current exchange rate.

what is the best way to do it?

Please help,

Thanks
Dave

Comments

SnoozeAndLose on 23/06/2016 - 15:09

I suggest you dont buy it now as Australia dollar may being strong by the end of year.

you could go with bank and see what is their best way, sometime they will waive the money exchange fee.
Dave1 on 23/06/2016 - 15:43

Thanks LoveBargain15,

I thought it was going be weaker?
- demiurge on 23/06/2016 - 16:49
  
  Who knows? With currency I don't think you should speculate, just exchange when you actually need it.
Cluster on 23/06/2016 - 17:01

+2

Guaranteed return: keep the money in an online savings account or your mortgage and only withdraw when you need it. 2 to 4%pa return after tax.

You could speculate on the value of the AUD$ but any guesses can be wrong.
Dave1 on 23/06/2016 - 20:55

Thanks Guys!
ilikeradiohead on 24/06/2016 - 13:14

No one can predict the future. It's ~75c right now. A year ago it was ~78c, with a lot of variation in the meantime. If I were a betting man, I'd say the AUD is going to drop in the near term, as it is likely our interest rates will be cut and the US ones will be increased. There are other factors at play though.

I personally would just get my $ at the spot rate when you leave, through citibank+ or Bankwest Zero.
- Dave1 on 01/07/2016 - 10:32
  
  Thanks a lot