Right time to send money back to Australia?

[Saving]

Hi, I'd like to send some savings back to Australia where I can get a higher interest rate. I haven't been following the currency movements lately . . . I notice today the exchange rate is about 1.18. Is this a good time to transfer funds or do you think this rate will improve (or get worse!) over the next few weeks?

(I know if we knew the answer to that question we'd all be a lot happier but I'd be interested in hearing from anyone who follows the market.) Thanks.

[Interested Aussie]

I work on same principle as "dollar cost averaging" - when rate improves a bit, send some. Don't worry if it's the best rate you'll ever get (how would you know?).

You can find exchange rate trends on Yahoo finance finance.yahoo.com/currency/convert?amt=1&from=SGD&to=AUD&submit=Convert

FYI AUD:SGD got to 1.14 in the last couple of weeks.

[Agree with PP]

You'll never be able to pick the 'BEST' rate.

Dollar cost average.


Basically, yes..now is a good time to send money back.

The chart will show you that there has never been a better time in the past 5 years to send money back to Aust.

[long term]

The aussie interest rates are expected to drop by 2 % over the next 12 mths and Singapore rates may rise by 1%.

Usually this means that the AUS$ will go down to the SGD$ but who knows in this environment.

[Expat Charles]

Methinks a good time to get the cash out the bank and buy property in Australia around the Gold Coast right now.  A sure winner.  Looking at a nice 3 bedder palace in the sky overlooking aussies best beach.  Prices have dropped and its a good time to get in. No point hanging around here methinks.

[Saving]

Thanks everyone for the helpful replies.

[ex-Qlder]

re Gold Coast, be careful if you don't know it well, some of the beaches (particularly some in the south) have been getting a worse and worse reputation recently for crime, personal violence, gang culture etc. Some great places, but do your homework on the exact district - if it seems cheaper than others there's a reason.

[you're joking]

Methinks a good time to get the cash out the bank and buy property in Australia around the Gold Coast right now.  A sure winner.  Looking at a nice 3 bedder palace in the sky overlooking aussies best beach.  Prices have dropped and its a good time to get in. No point hanging around here methinks.

Check today's SMH. Falls of up to 40% are being predicted for Australian real estate. Even the most conservative experts are expecting at least a 10% drop right across Australia over the next 6-12 months.