Aussie dollar strengthens further

Monday 26 November 2012

Article by Mozo

It has been a good year for Aussie travellers, as the dollar has gone from strength to strength.

People heading overseas have benefited from the best exchange rates seen for a long time and there are few signs of the currency losing its value just yet.

Commonwealth Bank currency strategist Joseph Capurso revealed the Aussie dollar was trading at 104.53 US cents on Monday (November 26th), which was up from 103.98 cents at the end of last week.

The latest increase came as foreign exchange traders eagerly anticipated a meeting in Brussels, Belgium, where European leaders are expected to discuss a possible bailout package for Greece.

Events like this normally have some sort of impact on the strength of currencies much further afield and it is always worth keeping an eye out for anything that may affect the dollar.

A lot of tourists protect themselves against a sudden dip in the currency markets by taking out a prepaid travel card when they book their holiday.

By locking in the existing rate of exchange, Aussies know exactly how much money they can take abroad, which is good for budgeting purposes.
















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