Hi,
Has anybody had experience buying Euro's on-line.
A site I have been looking at is http://www.xe.net/ucc/ which offers on-line trading.
The Euro rate from the bank today was 0.578 and on-line was 0.598
Chris
Chris
If you can get Euros for that price, you're doing well.
Our club set up a Euro account and some forward cover when purchasing our DG-1000 so we could lock the exchange rate in at 0.58, which was what we went to our members with when we sought their approval to buy such a glider (best decision we ever made, so most people seem to think !). Sure, there was a premium for the forward cover, but we figured it was better to be able to keep to our promise than wait hoping for some miraculous appreciation of the AUD against the Euro that might bring us a rate of 0.60. As it was, the AUD dropped not long after we'd locked the forward cover in.
My advice is to get in at a good rate, and accept that it mightn't necessarily be the best rate (though historically realistic), but it was what you and your fellow club/syndicate members budgeted for (and no worse). Nothing worse and more embarassing than watching the AUD crash due to some hiccup and you end up spending more than you bargained for to get the Euros you need because you expected a bargain price "real soon now".
Jason
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