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ironopolis
Joined: 01 Apr 2004
Posts: 379
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 Posted: Sat Jul 28, 2007 3:41 am Post subject: |
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I hope chris21's optimism is justified, and I do partly share it myself.
But let's all remember that the yen suddenly shot upwards for about a week at the beginning of March, only to then continually fall for the following 4 months to a level much lower than what it had been before.
I recall in late Feb/early March the yen-pound rate went from 240 up to 225 in a only a week, but then went steadily back, and beyond, to about 254 recently. Pretty much the same with other currencies v. the yen, I think.
For all of us earning yen who need to send it elsewhere, let's just hope this good news lasts a bit longer. |
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markle
Joined: 17 Jan 2003
Posts: 1316
Location: Out of Japan
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| Posted: Sat Jul 28, 2007 6:46 am Post subject: |
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| I overheard a news report on the radio that said the Nikkei fell because of the sharp appreciation of the Yen... |
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scorchio
Joined: 14 Jun 2006
Posts: 36
Location: Sydney
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| Posted: Sun Jul 29, 2007 11:39 am Post subject: |
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Could others please share their experience with golloyds? I just opened an account and am super pleased to see on xe.com that the 1AUD is at 101 JPY at the moment and would be happy enough to send my money home on that. But golloyds is still showing 105.9 JPY. Maybe it's lagging because it's the weekend, but how close can I expect golloyds to get to the real exchange rate?
Thanks! |
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Dipso
Joined: 28 Apr 2004
Posts: 194
Location: England
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| Posted: Mon Jul 30, 2007 3:55 am Post subject: |
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The xe.com rate is always going to be a couple of yen better than the GoLloyds rate. GoLloyds rates are issued at 10am, Monday to Friday (except for Japanese national holidays).
Last edited by Dipso on Mon Jul 30, 2007 3:58 am; edited 1 time in total |
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Dipso
Joined: 28 Apr 2004
Posts: 194
Location: England
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| Posted: Mon Jul 30, 2007 3:57 am Post subject: |
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| Sorry - double post. |
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Quibby84
Joined: 10 Aug 2006
Posts: 643
Location: Japan
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| Posted: Tue Jul 31, 2007 2:52 pm Post subject: |
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The value of the Yen to the Dollar seems to be going down...on a chart I saw it is on a straight incline. It is good news for me because I am in the US on vacation and have about 140000 yen that I want to change in before I leave (the rest I left at home).
So what do you think about this? Is this really a sign of goodness coming our way?? lol. |
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Apsara
Joined: 20 Sep 2005
Posts: 2142
Location: Tokyo, Japan
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| Posted: Wed Aug 01, 2007 12:26 am Post subject: |
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I use GoLloyds and think it is great- I have been using it about 8 years now. Last week I did the transfer to GoLloyds Tuesday morning and it was in my account in NZ by the same afternoon- pretty good service.
Their rate is not as good as xe who were saying 96 point something at the time, whereas the rate I got from Lloyds was about 99. They are a business and that is how they make money I suppose, so I don't let it bother me too much.
Friends who were back in New Zealand recently got much worse rates from city banks there so Lloyds doesn't seem too bad. |
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markle
Joined: 17 Jan 2003
Posts: 1316
Location: Out of Japan
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| Posted: Wed Aug 01, 2007 1:40 am Post subject: |
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| Quibby84 wrote: |
The value of the Yen to the Dollar seems to be going down...on a chart I saw it is on a straight incline. It is good news for me because I am in the US on vacation and have about 140000 yen that I want to change in before I leave (the rest I left at home).
So what do you think about this? Is this really a sign of goodness coming our way?? lol. |
This is unique to the States and has been going on for some time, much to the chagrin of the Japanese since the Us is it's biggest market. |
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ironopolis
Joined: 01 Apr 2004
Posts: 379
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| Posted: Wed Aug 01, 2007 1:54 am Post subject: |
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| Apsara wrote: |
I use GoLloyds and think it is great- I have been using it about 8 years now. Last week I did the transfer to GoLloyds Tuesday morning and it was in my account in NZ by the same afternoon- pretty good service.
Their rate is not as good as xe who were saying 96 point something at the time, whereas the rate I got from Lloyds was about 99. They are a business and that is how they make money I suppose, so I don't let it bother me too much.
Friends who were back in New Zealand recently got much worse rates from city banks there so Lloyds doesn't seem too bad. |
In the past I've considered using GoLloyds for sending money to the UK, but what's put me off is that it seems a bit expensive. I know they charge Y2000 to send the money, which isn't so bad, but if I've understood correctly what's on their website, it would appear that the intermediary bank in the UK (Lloyds themselves) charges GBP12.00 for the transaction. At present exchange rates that's about Y3000, so that makes Y5000 in total plus whatever my bank in the UK would charge for receiving the transaction.
I guess that's probably cheaper than many Japanese banks would charge for a direct bank to bank transfer, but even after the post office have put their charges up, I still reckon they're considerably cheaper at Y2500 per remittance. |
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Jon Taylor
Joined: 09 Mar 2005
Posts: 238
Location: Tokyo
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| Posted: Wed Aug 15, 2007 3:39 am Post subject: |
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Wow....
Checked the rates this morning on Lloyds.
US Dollar (USD) 118.39
Pound Sterling (GBP) 236.68
Canadian Dollar (CAD) 111.31
Australian Dollar (AUD) 99.72
New Zealand Dollar (NZD) 86.73
Much healthier. Hope they contuinue to drop. |
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Apsara
Joined: 20 Sep 2005
Posts: 2142
Location: Tokyo, Japan
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| Posted: Wed Aug 15, 2007 5:05 am Post subject: |
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Very happy to hear that re: NZD, as I will be sending money home next week.
As for the postal remittance being cheaper, that's fine if you have that option. It's not possible to send money to NZ that way for some reason, which makes Lloyds the best deal for us. |
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ironopolis
Joined: 01 Apr 2004
Posts: 379
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| Posted: Wed Aug 15, 2007 11:03 pm Post subject: |
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| Apsara wrote: |
As for the postal remittance being cheaper, that's fine if you have that option. It's not possible to send money to NZ that way for some reason, which makes Lloyds the best deal for us. |
Yeah, come to think of it, I do remember a Kiwi mate of mine a few years ago had a lot more trouble sending money to NZ than I had to the UK, and that the post office was a no go, so that makes sense, Apsara. I think Ireland was another destination the post office remittance scheme didn't cover either - very odd. |
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Apsara
Joined: 20 Sep 2005
Posts: 2142
Location: Tokyo, Japan
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| Posted: Thu Aug 16, 2007 12:27 am Post subject: |
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Wow, XE.com gives a rate of 81.6 yen to the NZD today- what a dive. Very happy  Wonder what it will level out at? |
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Angelfish
Joined: 18 Jan 2006
Posts: 131
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| Posted: Thu Aug 16, 2007 4:30 pm Post subject: |
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Latest XE rates
US Dollar (USD) 112.488
Pound Sterling (GBP) 222.693
Canadian Dollar (CAD) 104.655
Australian Dollar (AUD) 88.495
New Zealand Dollar (NZD) 76.0392
How low can it go? *happy dance* |
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Chris21
Joined: 30 Apr 2006
Posts: 366
Location: Japan
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| Posted: Thu Aug 16, 2007 5:04 pm Post subject: |
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| As long as the stock markets continue to meltdown, the yen will get stronger. It's amazing how strong the yen has gotten in just 3 weeks... something like 8%. At last check, it was at 112. The markets will probably bounce back a little tomorrow (or even later today) and the yen will weaken to 114. But the slide in the markets isn't done... maybe only about halfway. I'd expect the yen to gradually get stronger until maybe 107 in September or October. It probably won't get much stronger than that... 104 is probably the ceiling. |
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