$AUD vs $USD - WTF is going on?

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EVO-00X

EVO-00X

4G63T AWD CC COUPE
Joined
Jun 17, 2005
Messages
8,151
Location
Newcastle
What a frikken pain in the @ss buying parts at the moment for engine builds :mad:

In July the $AUD was trading at a beautiful 0.96 $USD and parts could be bought and freighted cheap into the country (especially under $1000AU value). These days, not even 8 weeks later its trading at a measly $0.81USD!!!!

What the fark is going on with the Aussie economy at the moment? I havent noticed any drops in interest rates to force the $AU dollar down? We've had several interest rises in a row havent we so I dont get it? :confused:
 
i just think we are settling back to where we were, its just that we have been spoilt for the last 12 months or so.

mid 80s used to be the norm for the us dollar
 
thank your lucky stars the business your working in doesnt rely on importing stock purchased in USD...

that hit to the dollar not only affected sales but smashed our bottom line and as such my commissions for the month were horrible.

we are starting to see some recovery of the USD but i wouldnt be holding my breath to see it crack .90 AUD anytime this year.
 
Yeah a lot of people who invested in the $USD when it was $0.96 have already got a 15-20% increase :)

As long as it doesnt go as far back at 0.65USD like it was about 4-5 years ago. I remember buying a lot of my engine build stuff around 3 years ago when it was about $0.72USD and I thought I got a bargain back then! (mind you I havent even got my engine up and running yet though :eek: - just a couple Heltech sensor plugs left to go before brrrmm brrmmm).
 
yeap i bought my turbo from the states when our dollar was 95us cents :D :D shoulda bought a few ey haha
 
yeah yeah rob :rolleyes:

i think from one "awd evolved coupe" to another - you should add "yet to be unleashed on the road" to your avatar....:D

hehehe

tell me about the AUD$, i got my mag wheels and tyres shipped over here from the 'states for $1140AUD about 8 weeks ago when it was in the high $0.90s.
 
^^^ yeah I'm throwing a BBQ to a packed house the day it kicks over!!! [my neighbours are gonna hate me but fark em] lol :D
 
Be grateful guys, back in the late 90's, I was quoting projects in Honk Kong and all prices had to be in US dollars and held firm for 90 days and if accepted, held firm for the duration of the project (which was about 2 years). It was down around $0.55 when we submitted our tender, and after we had submitted it, overnight it dropped to $0.49. That 6 cent drop took $2 million straight out of our profit margin for the project and made it non-viable. We were shitting bricks there for a while.
 
rob323 said:
Be grateful guys, back in the late 90's, I was quoting projects in Honk Kong and all prices had to be in US dollars and held firm for 90 days and if accepted, held firm for the duration of the project (which was about 2 years). It was down around $0.55 when we submitted our tender, and after we had submitted it, overnight it dropped to $0.49. That 6 cent drop took $2 million straight out of our profit margin for the project and made it non-viable. We were shitting bricks there for a while.
Click to expand...

Are these building projects that were not subject to rise and fall? Sounds like pretty risky business to me although it could swing in merry-go-rounds...

It's never a good time to blow an engine but it was perfect timing for me - I saved a couple hundred $$ with my BC cams, valvesprings and cam gears when it was $0.92...
 
EVO85 said:
Are these building projects that were not subject to rise and fall? Sounds like pretty risky business to me although it could swing in merry-go-rounds...
Click to expand...
Yep. Luckily for us, we didn't bribe the client enough and didn't win the contracts. (Yes, that was how business was done :eek:).
 
They are not bribes rob they are "facilitating payments" :D. I saved a few hundred on my KYB's a few months back. But dont expect the Australian dollar to swing back to soon. Just be glad for any Australian exporters who can finally compete overseas.
 
The $Aussie dropped to $0.78 USD today... thats almost 20c (20%) drop in value against the $USD in 8 weeks!!! Just when we think we were doing well as a country we get slammed hard with a huge drop in a short time frame.
 
The value of the Australian dollar has very little to do with how the economy is currently. The reason the AUS $ is falling is due to the fall in interest rates, lowering foreign investment in the currency.
 
The dollar has dropped even further.

I've been watching since yesterday.

It was 72cents last night.
this morning it dropped to 68cents
it is now 65cents!!

Not looking good for my blown motor!!

Damn this sux..
 
wowww 65 cents fuck sake, lucky i got all my engine parts about 2 weeks ago when it was still reasonable with 88 cents
 
I'm not an economist, I've got absolutely no idea about all that stuff, but if the American economy is so far up the proverbial creek, then why is its currency trading so much higher than ours?
 
Our currency is a commodity. so if people think buy up the Aus dollar on the market, dollar goes up.. When they panic and sell the Aus Dollar. Then, Price goes down.. Sucks as it was floated during the keating years. But if you take a look at the AUD$ Vs Pound. It isnt as bad. :)
 
I have got to say that what's happening in the US has got me really concerned ATM. There are many people like me that are tied up with investment properties and if I can't get rid of them, i'm farked. Not only that, if the economy dries up, it's going to be a bitch to find work...:mad:
 
I just sent my funds @ 65cents...
It's better then taking the risk and waking up to see that the dollar goes to 50cents!!!

If it ever goes back up, I'm only losing a few hundred bucks...

It is still cheaper than buying locally anyway...
 

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