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A falling Australian Dollar opens up a world of travel opportunities

Earlier this month the Australian Dollar (AUD) traded at its lowest against the US in more than six years with experts forecasting it will remain this way well into next year. Despite this news, there’s no reason why you should delay or avoid making travel plans in 2015. 

What determines the Australian Dollar exchange rate?

Variables affecting the AUD and its exchange rate include the recent fall in commodity prices and the Reserve Bank’s decision to cut interest rates. Australia has a floating exchange rate determined by international market supply and demand, making the Dollar volatile. In 2011 the Aussie Dollar peaked at US$1.10, and just 12 months ago one Aussie Dollar was worth 89 US cents, but in early March 2014 it bought just 77 US cents, 68 Euro and 52 British pence. These figures are unlikely to change significantly in the near-future, so to help you decide on your destination we’ve compiled a list of global destination where you’ll get the most out of your dollar.  

Best value for travel in 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Protecting your money while you travel 

There are now many ‘Cash passports’ – also known as travel money cards – available which allow you to lock in foreign currency at a particular exchange rate so you know exactly how much money you have to spend, whilst avoiding hidden exchange costs. Cards are used in a similar way as a debit card, and are a secure option as you don’t have to carry cash around.

If you’ve arrived at one of life’s cross roads and need help with investing, superannuation or planning for retirement book a FREE financial health check and get in the driver’s seat today. 

 

General advice disclaimer: This article has been prepared by FMD Financial and is intended to be a general overview of the subject matter. The information in this article is not intended to be comprehensive and should not be relied upon as such. In preparing this article we have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained on this article to particular circumstances. FMD Financial, its officers and employees will not be liable for any loss or damage sustained by any person acting in reliance on the information contained on this article. FMD Group Pty Ltd ABN 99 103 115 591 trading as FMD Financial is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977. The FMD advisers are Authorised Representatives of FMD Advisory Services Pty Ltd AFSL 232977. Rev Invest Pty Ltd is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977.