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HELP: CURRENCY EXCHANGE $$$$


Rochelle
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i changed with a non profit organization, haha. no need go chinatown! hehe.

 

love,

rochelle.

 

wondering if he's someone i heard of... [sly][sly]

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AUD is the world's currency whipping boy

 

By Wayne Cole

SYDNEY, Oct 24 (Reuters) - The Australian dollar slumped to six-year lows

against the yen on Friday as investors desperate to raise cash dumped leveraged positions in stocks, commodities and higher-yielding currencies. Havoc across Asian markets and fears of an ever-deeper global recession boosted bill futures as investors bet the Reserve Bank of Australia (RBA) would again have to cut interest rates aggressively when it meets in early November.

 

Dealers reported massive selling of the local dollar from Japanese and European banks while buyers were few and far between, leading to a big lurch lower in wild trading.

 

"The Aussie is everyone's whipping boy," said Joseph Capurso, a currency strategist at Commonwealth Bank. "People are de-leveraging and de-risking, and in Asia that means selling Aussie."

 

In part, that was because the Aussie was one of the few really liquid and free-floating currencies in the region.

 

"It's used like a proxy for much of Asia," said Capurso. "As people are increasingly bearish on Asia, and emerging markets in general, they dump the Aussie first."

 

Emerging markets [nCRISIS] have become increasingly shaky this week as Hungary hiked rates, Brazil intervened heavily to support its currency [nN23468162], and the IMF considered funding packages for several countries [nN23526514].

 

Much of the damage was against the yen as Japanese investors sold off long-standing positions in the Aussie to cover losses in the domestic equity market. The Nikkei <.N225> slid over 7 percent, partly due to a steep fall in Sony [nTKB003092], which in turn dragged the Australian market down 2.6 percent <.AXJO>.

 

The Aussie dived as low as 62.02 yen , a fall of almost 6 percent on the day and the lowest reading since late 2001. The fall brought losses in the last three months to a

nose-bleeding 41 yen.

 

The U.S. dollar also slid over 2.5 percent to under 96.00 yen and only the fear of forex intervention from the Japanese authorities prevented even deeper losses.

 

The Aussie also dropped back on the U.S. dollar as shell-shocked investors

fled to the world's most liquid safe-haven -- U.S. Treasuries. The local currency slid to $0.6510 , wiping out an early bounce to $0.6745 and taking it closer to the recent five-year trough around $0.6330.

 

"*At these levels the Aussie is looking vulnerable for a break towards 60 cents*," said Alex Joiner, an economist at ANZ.

 

"Any further sell off in Asian equity markets could prompt a further liquidation of carry trades and pessimism around commodity prices," he added. *"Any consolidation or rally in this environment is unlikely to be sustained."*

 

*Australia is a major exporter of resources so recent steep falls in commodity prices augur ill for earnings, *particularly as major customers in Asia, and notably China, are

slowing.*

 

Copper, a bellwether for industrial demand, was down 18 percent for the week so far, the second-biggest fall on record. Coal, iron ore, wheat and nickel were all lower.

 

 

 

 

So what does this mean?

 

 

* Aussie dlr slumps as investors flee leveraged trades

* Investors desperate to raise cash dump equities and commodities, rush to safety of yen and U.S. dollar

* Bond and bill futures up on bets rates will have to be cut

Edited by Genie47
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Hi all handsome bros and pretty sis,

 

Anyone knows of any good money changer with very very very ''no horse run'' buying rates e.g. exchanging sing dollar to us dollar. Appreciate your great help! Thanks, XOXO!

 

Love,

Rochelle.

 

Unless you are changing millions, else changing a few hundred bucks makes not much difference.

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their rates good? you always change there? hows their rates for RM?

 

love,

rochelle.

 

previously, i've changed there quite often as their rates used to be the better ones around change alley. hv not been changing there recently as its out of the way, since i now working in west coast area

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Neutral Newbie
good! but don't know what time close...unimpressed.gif

 

long time never see you and your zhao chia already sly.gif

 

hahaha... ya larx... dare to say.... lolx~!

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always change other countries currency in our own land, over there they know you need it,

 

time to sharpen the butcher's parang! wee. off goes your head. [:p]

 

 

love,

rochelle.

 

It depends, if you change Baht or don in Thai and Viet; their local rates are better.

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changed the usd liao, hehs, not too bad a rate. thanks for all your advices unkers! xoxo.

 

love,

rochelle.

 

Can share wats the rate you are getting and where you exchange? I wanna change some more.

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