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Justin Rampono
Articles written by Justin Rampono
The Australian Dollar Sinks to It’s Lowest Point this Year
This week, the AUD/USD fell below 76 cents for the first time in 2021. The main driver of the exchange rate seems to be a US Dollar that is getting stronger. But is now a good time to buy Australian Dollars? Here comes the greenback The recent move lower has been on the back of the US dollar (also known as the greenback). The US Dollar has gotten stronger against most other currencies including the Australian dollar. This has caused the AUD/USD to fall. So why is the US Dollar getting stronger? The US economy is flying. Thanks to […]
Why the Australian Dollar Could Hit 80 cents this Year
Since March 2020, the Australian dollar has been on a march towards 80 cents agains the US dollar. In the first week of 2020, it reached 0.7816 before easing off. Despite the recent drop, many economists are predicting the Australian dollar (AUD) to reach and move above 80 US cents this year. Here’s why: Massive Chinese demand for Australian commodities like iron ore A stronger than expected recovery in the Aussie economy A falling US dollar Let’s have a look at each of them in a little more detail. China is on the move The coronavirus hit every economy hard […]
2021 Australian Dollar forecasts upgraded as the AUD soars to new highs
Two of Australia’s big banks have upgraded their forecast as the AUD/USD exchange rate hit a fresh 2 and a half year high above 76 cents. The National Australia Bank now expects the Australian dollar to move up to between 80 and 85 cents in the back half of next year. Westpac also increase their prediction for the AUD with a forecast of 82 cents by the end of 2021. Why the Australian dollar is rising There are a dozens of reasons why the Aussie dollar has been getting stronger. These include: Rising commodity prices like iron ore The […]
Cancel for Any Reason: Travel Insurance Coverage During a Pandemic
It might be tempting to book a holiday in the hopes that Australia’s international borders will re-open soon. But there’s a high risk that you may have to cancel the holiday – or that complications arise from the COVID-19 pandemic. We’re all attuned to protecting ourselves against travel mishaps with insurance but travel insurance in a time of corona has become a lot more complicated. Cancel for Any Reason (CFAR) travel insurance might have provided protection against the pandemic. But Cover-More, Australia’s major supplier of CFAR policies, suspended Cancel for Any Insurance policies at the start of the coronavirus outbreak. […]
Taking Cash Out of Australia: How Much Is Too Much?
Are you heading away on a big holiday abroad, or moving overseas, and are unsure how much money you can actually carry out of Australia? The good news is there’s no limit to how much cash you can take out of, or into, the country. But while you can carry unlimited sums out of Australia, you may have to declare amounts with a combined worth of AU$10,000 or more. Important read: While we try to keep this info as accurate and up to date as possible, it’s general information only. Please remember we don’t provide financial or legal advice. Australia […]
3 Significantly Better Options to Currency Exchange at Sydney Airport
Currency exchange at Sydney Airport can be a real rip-off. If you are exchanging a small amount under $200, you could lose up to 30% of your money in loaded exchange rates and money changer fees. There are only 2 money exchange options at Sydney International Airport – ANZ or Travelex. If you are already at Sydney Airport, then these are your only 2 options. If you have time to sort out your travel money before you go to the airport, here are 3 better alternatives: Order online before you head to the airport Head into a store or a […]
