The Aussie

**Mid** · 24-10-2008, 07:43 PM

October 24, 2008 18:04

Bank Buying Rates

Notes

20.64375

Siam Commercial Bank

**Mr Pot** · 24-10-2008, 07:45 PM

The Pomme

October 24, 2008 18:04

Bank Buying Rates

Notes

54.something

**JoGeAr** · 24-10-2008, 07:58 PM

Great idea. Thanks.

**JoGeAr** · 24-10-2008, 08:00 PM

Bloody Hell !!

**baldrick** · 26-10-2008, 09:03 PM

yes - first time I have ever seen it lower than the SGD

**isdatu** · 26-10-2008, 10:38 PM

guess its time to see what price the world will pay us for all that uranium we've been stockpiling

**Mid** · 27-10-2008, 01:11 PM

October 27, 2008 12:24

Bank Buying Rates

Notes

20.61

**Panda** · 27-10-2008, 02:37 PM

We got shitloads of minerals to sell. Seems like the rest of the world just dont need it right now.

Basically, the Aussie economy is in pretty good shape compared to other developed countries, although houses are vastly overvalued in proportion to wages. As things slow down and unemployment starts to rise due to the drop in exports there is going to be a lot of mortgage defaults here.

**terry57** · 27-10-2008, 02:47 PM

Originally Posted by Mid

October 24, 2008 18:04

Bank Buying Rates

Notes

20.64375

Siam Commercial Bank

When I first came to Thailand we were getting 18.

**Texpat** · 27-10-2008, 02:54 PM

Oz's turn in the barrel.

Ours was last winter.

Have fun (or not).

**isdatu** · 27-10-2008, 07:42 PM

I was calculating (using both my hands and feet) just how much of a killing I could make re-selling a few rai that I own down in the Island, but it makes more sense to just sit on it and weather it out. Didn't realy buy it to make a quid, but to stop me piss'n it all up against the wall.

**sharon** · 27-10-2008, 09:54 PM

So, it's not a good time to send money home, is it?

**Mid** · 28-10-2008, 09:06 AM

October 28, 2008 08:54

Bank Buying Rates

Notes

20.5075

be ok if prices where still the same as when you were getting 18's Terry , apples and oranges

**jandajoy** · 28-10-2008, 09:08 AM

That's the house project out of the window.

**sharon** · 29-10-2008, 09:45 AM

Now it's getting better a lil bit >>>> 21.85
Damn...

**Nawty** · 29-10-2008, 10:56 AM

was 20.40 at airport couple days ago.

I am thinking to send cash back home now, can pick up AUD$60k straight away.

Better interest rates while the shit circles for next 6/12 months.

Any truth in the fact they stopped gold sales here because they ran out the other day ??

**Mid** · 05-01-2009, 04:38 PM

24.25125

scb.co.th

finally rolled the Sing again .

**MeMock** · 05-01-2009, 05:32 PM

24.80 according to the websites i am using.

It has slowly but surely been coming back up for the last month. Boy I hope it isn't to far off being back to 30-32 again soon.

**nedwalk** · 05-01-2009, 06:22 PM

me too, about june/july would be just perfect

**Mid** · 15-01-2009, 04:24 PM

January 15, 2009 15:06

22.41875

Siam Commercial Bank

and worth less than the Sing again

**Panda** · 15-01-2009, 06:22 PM

The good thing about the $Aussie is that we have ship loads of stuff we can dig out of the ground that the rest of the world wants to buy. The bad thing is that the rest of the world is broke at the moment and slowing down on buying our exports.

While the fundamentals of the $Aussie on the world market are pretty good because of our mineral wealth, it also puts us at the whim of the ups and downs in the rest of the world re the ebb and flow of paper money trade.

When the financial system of the world slows as it does occasionally, mineral exploration and export slows also. As this is Australias bread and butter it tends to hurt us and investors pull out of the $Aussie. But its not all bad for us as when the world economy starts to get going again there is always a shortage of raw materials which drives the world price of minerals up and the Aussie boom times start again.

Right now with world demand for minerals on the decline, the $Aussie has taken a big hit. And it will probably stay down until the world economy starts to pick up again, --- whenever that is.

On the bright side, we have the infrastructure to start getting the mineral exports moving again once the world economy recovers. And the fact that supply will lag behind demand when things get going again will boost the tradable value of the $Aussie once again.

Unlike USA, Australia trades in actual tangible stuff, rather than trying to sell (borrow) paper money to sustain our economy.
It means our currency is going to fluctuate with the world economy. I have seen the $Aussie at less than $US .50 back a few years and I have seen the $Aussie at $US .97 just a couple of months back.

The Thai baht is maintaining steady against the $US because the Thai government is buying baht with their $US reserves (of which they have more than plenty), so I dont see the $Aussie getting any better against the baht any time soon for at least a year or probably more.

Many years ago I used to work in the building trade. And its well known there that when the economy burps the building trade is the first to feel the pinch. Australia as a primary supplier of raw materials to places like China is pretty much like the building trade on a world scale. Hard times ahead for at least a year or two, -- maybe more, but we will profit on the rebound. Boom and bust. Bust and boom.

**kingwilly** · 15-01-2009, 06:27 PM

Originally Posted by Mid

January 15, 2009 15:06 22.41875 Siam Commercial Bank and worth less than the Sing again

might send some more $$ home....

**Loy Toy** · 15-01-2009, 06:29 PM

The news coming out of Oz today was not very good!

Our manufacturing sector is fvcked (has been for a long time) and the only real long term export gig is minerals.

With a market of just over 20 million it is not big enough to sustain an economy and as we have made our self non competitive in our region (SEA) things don't look good for the future.

**Panda** · 15-01-2009, 08:41 PM

Originally Posted by Loy Toy

The news coming out of Oz today was not very good!

Our manufacturing sector is fvcked (has been for a long time) and the only real long term export gig is minerals.

With a market of just over 20 million it is not big enough to sustain an economy and as we have made our self non competitive in our region (SEA) things don't look good for the future.

Kings yesterday, paupers today and kings again tomorrow. That's the way it goes when your economy is dependant on demand for export minerals.

World demand for our exports has about halved and prices for that have halved also. So its pretty bad for the Aussie economy overall. But we have been down this road before and we will bounce back when the world economy picks up. Its not like the USA where the fundamentals are fatally flawed because of their financial system. Times are going to be tough in Oz for a while (maybe years).
No one will want to buy the $Aussie, and Thailand has the ability to prop up their currency for a couple of years yet, so the Thai Baht/ $Aussie is likely to be pretty bad for a while. The wild card in there is the crash of the $US. When that happens its likely a lot of money will go back into countries that actually produce things other than paper money and the Thai reserves of US currency to back the baht will be virtually worthless.

**isdatu** · 20-04-2009, 01:46 PM

So at the end of the day we use the good old Thai philosophy with our stuff in the ground, that is, if we've got it and they want we then charge 2, 3 or 4 times the normal price, and then supply an inferior product.

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