With our weakening dollar, I'm wondering if anyone would recommend exchanging to Yen, now before it gets worse?
I know no one can say for certain if it will sink worse or recover but just curious to see everyones opinion.
I'm going to Tokyo in October so was thinking of dumping all the money into Citibank Global Currency account card and let it sit in Yen while our aussie dollar keeps dipping.
Well i did say i dont expect anyone to know…lol this is more of what would you do question
I would ask opinions from OzB community.
You mean wouldn't?
Hedge your bets? Half now half later? It’s only a month
Do what you think, it’s all a guess.
Is citibanks global currency account card and Citi plus account the same?
I do have a family trip coming up later this year, just curious to know about it.
From my understanding the global currency holds your money in the currency you want so converts on the day of transfer while the plus account just holds AUD and converts when you use it/withdraw on the day.
Its like a travel momey card minus all the fees others would normally charge you
As others have mentioned this is a gamble - no one knows what would happen. What I would do is exchange a small amount of cash only (a few hundred, given the small amount it doesn't matter if you do it not or in a month), and withdraw more once you are in Japan from ATM's using a card with a good exchange rate - e.g the Citibank Plus account.
I would not transfer to the Citibank Global currency account. Looking at the exchange rates on Citibanks website you lose 2% value or so the instant you transfer into that account.
Thanks! Its good to know about the global currency card il just stick with the citibank plus then.
I was also thinking of getting bankwest platinum card to replace my shitty commbank one to use overseas too for emergencies as it has a lot less fees, international transaction fees etc.
Did a bit of research it seems the best for that, any experience?
*wrong bank
Cheers!
Thanks guys
Wait let's me find a deal on crystal ball at ozb first…