Aussie dollar starts to recover

By Mozo ·

The Australian dollar has been struggling in the past few weeks, but it has now started to recover.

Aussie holidaymakers had been benefiting from some of the best exchange rates seen for years until recently, as the dollar was strong against most other currencies.

However, it has since tailed off quite badly and was at a seven-month low against the US dollar on June 1st, the Associated Press reports.

It has now clawed back a lot of ground and is almost on a par with the American currency.

With cash being so tight for many Aussies, it is vital that people get as much overseas travel money as possible when heading abroad.

Of course, unless you are a stock market trader, you are unlikely to be keeping tabs on the forex markets 24 hours a day. To avoid any sudden dips, it is well worth transferring your holiday funds on to a prepaid travel card.

In doing so you are essentially protecting yourself if the dollar falls in value by the time you board your flight.