AU dollar overtakes US dollar

Schizoanalysis

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Great news for Australian importers...

At midnight, the Australian dollar overtook the US dollar: AU$1 = US$0.99996

I remember the days one US dollar would buy you AU$2, but now they have reached parity.


So, Australians, if you need to import anything, now seems like the time to do it.
 

Gariscus

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Ha, I've been importing like crazy for the last few weeks.
smile.gif


It's great that the Aussie dollar is so strong.
 

Schizoanalysis

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I imagine it will be cheaper to import the 3DS, rather then buying it here, as the Australian version tends to be overpriced anyway.


I imported my DSi XL, as it was cheaper than buying it here. Oddly enough.
 

Mantis41

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Schizoanalysis said:
I imagine it will be cheaper to import the 3DS, rather then buying it here, as the Australian version tends to be overpriced anyway.


I imported my DSi XL, as it was cheaper than buying it here. Oddly enough.
Warranty claims could be tricky on an imported model.



High Aussie dollar not all good news.
INVESTORS are bracing for fallout from the rising Australian dollar, as many companies prepare for currency losses on overseas profits and lower sales turnover.

The sky-high Aussie - again close to parity with the US greenback last night, although it briefly dipped below US99 during the day - may be good news for travellers and shoppers but it's causing pain for companies converting overseas profits back into fewer Aussie dollars.

The strong dollar also is bad news for companies that sell their products overseas, as it makes their goods more expensive and less competitive.

And anything bad for company profits is bad for superannuation returns.

Property sellers also could be in for a gloomy time if overseas buyers start to back off, although that would give local buyers some elbow room.

But there are good places to invest during the currency storm.

"Winners are mostly companies that import products from overseas such as retailers," Australian Stock Report's head of research Geoff Saffer said.

"As the Aussie dollar rises it gets cheaper for clothing retailers such as Pacific Brands or Premier Investments to purchase items like T-shirts and jeans made overseas. This also applies to electronics retailers.

"Qantas and Virgin Blue are also big beneficiaries."
 

Schizoanalysis

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Mantis41 said:
Warranty claims could be tricky on an imported model.

I've owned over 10 consoles, none of which have broken (I take meticulous care of them). Warranty doesn't bother me, as I have never actually needed it.
I usually prefer Japanese releases anyway (special colors/limited editions).
 

Jamstruth

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2 words about importing 3DS: Region Lock.

The DSi had it so the 3DS is almost certainly going to have it (though it makes no sense to have it and sucks major balls that it does. Its not an anti-piracy measure, its a nuisance)
 

Pliskron

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I used to order stuff from Australia. Looks like our 13.5 trillion dollar debt is coming home to roost. I can't wait until I'm paying $6 a gallon for gas. Thanks Obama!
 

Jamstruth

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Americans are very quick to blame Obama. Personally I don't think having a Republican in office would've made a lot of difference. You'd still have had to bail out the banks. You'd still have a huge debt. etc. etc.

Then again, what do I know? I'm a 17 year old Brit
 

trumpet-205

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If you want to blame someone for economy blame the entire legislature.

To get economy moving again, you need to give more purchasing power to consumer. But no, legislature focus on big corporation instead. More purchasing power = more spending. More spending = more earning for corporation. Once corporation earns more money they will invest it for future earning.
 

Pliskron

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trumpet-205 said:
If you want to blame someone for economy blame the entire legislature.

To get economy moving again, you need to give more purchasing power to consumer. But no, legislature focus on big corporation instead. More purchasing power = more spending. More spending = more earning for corporation. Once corporation earns more money they will invest it for future earning.
good idea lets blame them too.
 

murkurie

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Pliskron said:
I used to order stuff from Australia. Looks like our 13.5 trillion dollar debt is coming home to roost. I can't wait until I'm paying $6 a gallon for gas. Thanks Obama!
I don't like obama either, but gas won't go to $6, it would take something dramatic, like the gov rising gasoline tax by $4 that would, right now a gallon of untax Premium gas is about $2.48 (3.08 at pump - 60 cents California gas tax), though they sell gas thats already cost more then $6 a station near me sells 100 octane racing gas.
 

Pliskron

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Jamstruth said:
Americans are very quick to blame Obama. Personally I don't think having a Republican in office would've made a lot of difference. You'd still have had to bail out the banks. You'd still have a huge debt. etc. etc.

Then again, what do I know? I'm a 17 year old Brit
good observation. Indeed this problem didn't start overnight. It started with Bush but Obama and and the current congress has made it ten times worse. We need leaders who have the balls to turn things around before it's too late.
 

Trulen

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I may be a bit dense, but... It's a .0004 dollar difference.

A US item at $20 may only cost.... $19.99 AU? If the rounding plays nice.
 

Pliskron

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I'm not that worried about most purchases because many countries will devalue their currency in response to the slipping dollar. The 3ds isn't going to go up in price but staples like food and gas are likely to meaning I still may not be able to afford the 3ds.
 

Arm73

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I spent 3 wonderful months in Australia in 2003 and I had the time of my life.
Beautiful country, I loved the nature, the sea and forest in the north and.....................how cheap it was for me to live there for 3 months with my USD Dollars savings..............at the time the change was 1.6 or something, I remember taking $500AU from the ATMs and getting charged around $300USD here.....he he he...
wink.gif

Needless to say, this all affair about the wickening of the USD makes me think twice today about returning to Australia....
You win if you import something, but even though I'm not an economical expert, I can see that since the AUD is getting stronger , the tourism industry may suffer quite a bit, and also if you guys produce anything over there worth exporting ( like wine, wood or whatever ) it's going to be tougher to export and sell overseas.
Does a weak currency really hurt the national economy, or does it help it ?
It depends I guess on what drives your national economy.
 

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