battymum
DIS Veteran
- Joined
- Jun 21, 2010
With the $A so strong at the moment I am keen to know if anyone has used any sort of forward currency exchange contract.
I have an ANZ travel card and put money already on to that.
But as we are not travelling until September I was budgeting on a further six months of saving, tax returns and our holiday pay to cover the cost of our trip. I could draw money from our mortgage or other savings, but then I would be losing money in interest.
What I would like to do is sign a contract to lock in the current rate, but not actually exchange funds until maturity, ie September. I know rates could go higher, but I am happy with parity and not willing to gamble.
Anyone done something similar.
I have an ANZ travel card and put money already on to that.
But as we are not travelling until September I was budgeting on a further six months of saving, tax returns and our holiday pay to cover the cost of our trip. I could draw money from our mortgage or other savings, but then I would be losing money in interest.
What I would like to do is sign a contract to lock in the current rate, but not actually exchange funds until maturity, ie September. I know rates could go higher, but I am happy with parity and not willing to gamble.
Anyone done something similar.