What you see on the exchange site is the sell rate.... you want the buy rate which is ALWAYS 1.25 to 2 cents less.... thats one of the ways banks make money. XE.net only gives the rates for international markets and i understand doesnt actually supply to the public, although it publishes the rates as part of its service.
Some of the groups like Travelex can also provide a good rate but it always pays to shop around. There are also some private companies like Custom House Currency Exchange in Sydney which can provide better than bank rates also. Thanks Michael Coates ---- Original message ---- >Date: Fri, 22 Aug 2003 21:29:39 +1000 >From: Jason Armistead <[EMAIL PROTECTED]> >Subject: Re: [aus-soaring] Buying Euro's >To: [EMAIL PROTECTED] > >At 07:04 PM 22/08/2003 +1000, Chris Woolley wrote: >>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 > > >-- > * You are subscribed to the aus-soaring mailing list. > * To Unsubscribe: send email to [EMAIL PROTECTED] > * with "unsubscribe aus-soaring" in the body of the message > * or with "help" in the body of the message for more information. > -- * You are subscribed to the aus-soaring mailing list. * To Unsubscribe: send email to [EMAIL PROTECTED] * with "unsubscribe aus-soaring" in the body of the message * or with "help" in the body of the message for more information.
