It has been a good few weeks for the dollar

Mozo

Wednesday 25 July 2012

The Aussie dollar has finally started to settle down following a couple of very good weeks, in which it strengthened considerably.

Holidaymakers who have had overseas trips booked in July have been receiving the best exchange rates seen for a long time, as the dollar has gained on the US equivalent, the British pound and the euro during the month.

According to the Australian Times, the Aussie currency was trading at up to US$1.041 between July 16th and 23rd and was worth around £0.664 during the same period.

Although it has retreated slightly this week, it is still in a very strong position, which is great news for travellers.

In order to make the most of the situation, Aussies who are planning to head abroad later in the year should purchase a pre-paid travel card.

This will essentially lock in the current exchange rate, so Aussies don't need to worry about any sudden dips in the value of the dollar in the time leading up to their holiday.

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