Wondering What The Exchange Rate For The Aussie Dollar Is On The Street

[Mogwai]

I have always gotten much better rates on the street than official rates in the past. Wondering what I could expect right now. Current rate is 33php per dollar.

[frosty (chris)]

I have always gotten much better rates on the street than official rates in the past. Wondering what I could expect right now. Current rate is 33php per dollar.

Was at Mercardo in Mactan yesterday, at the money changer inside the big supermarket there which I find to give the best rate Aus was 32.50 pesos. Will be of to Hyper Mart later today they also have a changer, will check there rates.

[Mogwai]

I have always gotten much better rates on the street than official rates in the past. Wondering what I could expect right now. Current rate is 33php per dollar.

Thanks mate!

[Dave Hounddriver]

Seems like your Aussie dollar hit the skids like our Canadian dollar.  Every day I check to see what I can get for CDN $1,000 and every day it is less.  They say its because of the price of oil but is the Aussie dollar also based on the price of oil?  Both currencies are staying close to the same level.

[frosty (chris)]

Hypermarket was the same 32.50, but it changes every day, when I first came here Jan last year was around 38. ouch :th_unfair:

[frosty (chris)]

Seems like your Aussie dollar hit the skids like our Canadian dollar.  Every day I check to see what I can get for CDN $1,000 and every day it is less.  They say its because of the price of oil but is the Aussie dollar also based on the price of oil?  Both currencies are staying close to the same level.

The Aus is all about China, when the Chinese economy was going hell for leather Aus was shipping mega tons of commodities, now with the slow down in China the Aus has hit a brick wall and to add to this, the interest rate not long ago was around 5-6%, little old ladies in Japan doing swing trades were borrowing money on nil interest and buying Aus bonds and making good money. I did read at one stage the Aus $ was the 3rd or 4th largest currency traded, now who knows?????

Edited September 13, 2015 by frosty (chris)

[RBM]

If you Aussies and Canadians think there is a problem have a look at the Kiwi.....

[chris49]

Seems like your Aussie dollar hit the skids like our Canadian dollar.  Every day I check to see what I can get for CDN $1,000 and every day it is less.  They say its because of the price of oil but is the Aussie dollar also based on the price of oil?  Both currencies are staying close to the same level.

The Aus is all about China, when the Chinese economy was going hell for leather Aus was shipping mega tons of commodities, now with the slow down in China the Aus has hit a brick wall and to add to this, the interest rate not long ago was around 5-6%, little old ladies in Japan doing swing trades were borrowing money on nil interest and buying Aus bonds and making good money. I did read at one stage the Aus $ was the 3rd or 4th largest currency traded, now who knows?????

That's right. Cheaper resources available to China from the Soviet Union, iron ore and cheaper coal from the USA.

Then the USA Dollar makes a surge, some of it directly related to oil price weakness as the US produces more oil, more shale oil.

USD up. The AUD should also gain. But it doesn't, our commodities are no longer demanded, but the govt must have a weak dollar to keep our exports attractive. Australia got into a financial hole on mineral price weakness and that caused increased unemployment on top of our chronic unemployment rate of 6%. No way out at the moment.

[frosty (chris)]

 

USD up. The AUD should also gain. But it doesn't,

 

If you grab a US/AUs forex trading chart you will see that this is not the case, these 2 currencies move in direct opposites, always have always will.