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The Australian Dollar Overseas

By James Hannagan Subscribe to RSS | May 28th 2012 | Views:
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Whether you're a world traveler or just heading out on vacation, one of the things you should always consider is the strength of your country of destination's currency against your own. Whilst you may think that you have ample funds to enjoy your trip, you may find yourself spending more than you bargained for due to currency market fluctuations. Right now for Australians, overseas travel has never presented such a great opportunity. The Australian Dollar is at an all-time high right now, which adds value to the Australian spending dollar overseas.

People are willing to travel far and wide to save a few dollars on products that they can easily ship back to their country. Right now, Australian tourists and holiday makers alike are enjoying the surprisingly strong Australian dollar. No matter what you're purchasing, from clothes, to household goods, or simply a vacation package direct from Australia, your strong dollar is going to go a lot further when you take it overseas to destinations like south-east Asia.

As an example, if your 1 Australian Dollar is equal to 2 dollars internationally, you could find yourself buying the same product for 1 dollar in either country. Realistically, what normally costs you 1 dollar in your country only costs you $0.50 of your dollar! That's equal to a 50% savings. While that's only a hypothetical situation, the scenario is very similar thanks to the strength of the Australian dollar against most countries. In short, the more you spend, the more you save. In most cases, even if you must have your goods shipped back to your country, you can still save an abundant amount of your hard-earned money on your holiday purchases overseas.

Furthermore, the purchase of amenities is just as inexpensive. You can find yourself saving 40-60% on vacation packages such as hotels, tours, and souvenirs. If you are planning on traveling from Australia, consider using this tip when you begin to pack your luggage. If you need to purchase anything for your trip, it may be beneficial to wait until you reach your overseas destination first. Most likely, the relatively strong economy of Australia compared to that of any country you are likely to visit makes for a favourable currency exchange rate. When you buy certain necessities for your trip overseas, you will therefore end up saving a bundle of cash by waiting until you arrive at your destination. Cleverly planning ahead will yield savings opportunities for any smart traveler who takes the time to assess their currency exchange rate.

James Hannagan - About Author:
James T. Hannagan is an independent software developer with an investment background in currency markets and precious metals. His website on the Australian Dollar elaborates on the national currency of Australia as a viable investment vehicle against global economic uncertainty.

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