Dollar continues to go from strength to strength

Mozo

Wednesday 12 September 2012

The Australian dollar has made up even more ground on the US equivalent this week, which is great news for travellers down under.

According to NineMSN, the dollar is buying 104.2 US cents today (September 12th), which is amazing when you consider that the Aussie currency was trading at just 64 US cents as recently as 2009.

Though the average holidaymaker will have little interest in currency markets, it is definitely worth keeping an eye on the latest developments if you want to secure the best exchange rates.

After all, Aussies who are planning a jaunt to Las Vegas or a city break in New York can make major savings if they know how much their money is worth.

Improving levels of business confidence on the domestic front have strengthened the Aussie dollar this week and this has helped to cement the currency's status as one of the strongest in the world.

There is every chance that the dollar will gain even more ground on the US greenback in the near future too, as the North American country could be about to introduce further quantitative easing measures in order to stimulate economic growth – at least that's what the expert economists think.

That said, there is always a possibility of something unexpected happening that can leave Aussie holidaymakers red-faced and out of pocket.

People who are worried that the dollar may take a sudden dive can protect themselves by taking out a travel credit card.

Many packages enable holidaymakers to load all of their currency on to the card while global exchange rates are in their favour and will then lock this in until they take their trip.

This is a particularly good option for travellers who have their finger on the pulse when it comes to foreign exchange markets, as they are able to better predict when the dollar will be at its strongest.

Of course, you don't have to be an expert to reap the benefits of prepaid travel cards and they can offer peace of mind to all holidaymakers that they are getting the biggest bang for their buck.

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