Monday, December 12, 2011

When will be a good time to convert AUD to USD?

I have around $500 AUD sitting in my paypal account, but as of right now AUD isn't worth what it usually is. I need to convert it to USD, but I don't know how long it'll take for the value of the AUD to go back up some?|||Consider Canadian instead.|||It probably time to convert soon. If you look at the conversion chart http://finance.yahoo.com/q/bc?s=USDAUD=X鈥?/a> , you'll see that the aussie dollar has been strengthening against the dollar in the last quarter. From a purely technical perspective, 1.2 aussie to a dollar is probably a likely event in the next month or so. Depending on what paypal is charging to convert, I would say that if you can get 1.205 to 1.22 to the dollar, it's a fair exchange. If you are more patient, you can wait to see if the dollar breaks the 1.2 area. If it happens, you may get a sub 1.1 aussie to the dollar. That's from a trading perspective. If you're just trying to cash out on something you sold on eBay, then I would just convert within the week if you can get 1.23 or better. Hope this helps.

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