Locking in US$ Current Exchange Rate

Almost Banned on 29/01/2018 - 15:39

The AU$ is doing pretty well against the US$ at the moment - currently around 81c.
I'm travelling to Washington in November thanks to the Cathay Pacific deal here and wanted to spread the risk by exchanging some money now at the current rate.
Anyone got any good suggestions of the most cost effective way to do it?

Financial

Comments

  • GG57 on 29/01/2018 - 16:01
    +3

    Get yourself a multi-currency Visa card and add some USD to it, or you could just buy USD cash.
    Don't forget to factor in the potential cost of having that money unavailable for 10 months.

  • Brucet on 29/01/2018 - 17:08
    +1

    If u buy USD I suggest u can try www.kvbkunlun.com
    What I know is they have better rate.

    • Almost Banned on 29/01/2018 - 17:53

      that site is in Chinese!?!

      • Brucet on 29/01/2018 - 19:20

        in english . their office in sydney and melbourne

      • Brucet on 29/01/2018 - 19:22

        https://www.kvbkunlun.com/en/

        • jace88 on 08/05/2018 - 13:53

          Is the rate on that page the same as you get for physical in their building? Or is this for online trading accounts?

  • tiramisu023 on 30/01/2018 - 18:28

    KVB Kunlun in the Citibank Building in Sydney offers the best rate I've found in Sydney.
    Supay also offers decent rates and has a few locations in Sydney.

    • Almost Banned on 30/01/2018 - 19:41

      Anything in Perth?

    • jace88 on 08/05/2018 - 13:54

      In terms of fees/spread, speed, denominations of USD, quality of notes (ie old vs newish), etc… any other things you can comment between the two?

  • owli on 31/01/2018 - 10:09

    Maybe set-up a multi-currency citi bank account and buy USD through something like ofx or xe.
    Or if it's a lot of money you could buy an in the money put option at somewhere like saxo bank to act as an insurance.

Login or Join to leave a comment
Login Join