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Strong Yen // UK pound taking a beating too

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#41
tripitaka

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Mama,

I think you're right. Japan lift tickets will be between AUD75-85 now. However, accommodation and eating out will hurt pretty bad for those who aren't staying in the cheap lodges. Even a bunk room will be up around AUD$50.

#42
big-will

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Sending some back tomorrow. For once, in my favour. Lets yen. Hope it gets something like normal though.
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#43
big-will

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Bank this morning offering me 161.08 for GBP. To send now or to send a bit later, that is the question.... hmmmmmmm. anyone got a crytal ball?
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#44
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Thats the rate I got. No faffing about here, I got it sent. It might get even better, but I'm well pleased about what I got and I can forget about it now until I get enough to send again.

dance
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#45
Mamabear

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Glad the economic decline is helping some.
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#46
grungy-gonads

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Well I have lots of cash in bonds/stocks back in the UK as well Mamabear which is not looking too good right now, so this is small consolation in the larger picture. But it is of course welcome.
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#47
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As I say GG.
Make as much of the bonus as you can.
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#48
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15% off the index in Hong Kong here today veryshocked

#49
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please hold out until friday!! (or drop further!)
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#50
Mr Wiggles

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No offence but are banks only offering 161 when the headline rate is under 150?

Shittybank even will offer you much better than that. I think its a two yen spread. Sony bank will beat that, for a small membership fee. For larger amounts, look at using a dedicated currency exchanger. You should only pay tourist rates if someone is giving you cash notes in your hand.
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#51
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I haven't sent money back but looked around a few places this morning and it was pretty much the same Mr Wiggles - nothing I saw for less than 160. Do let me know where will give me much better though, I'm planning on throwing some over.
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#52
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No offence taken. Asked a few places. Banks and the post office offered exactly the same rate. Would be most welcome to hear where I can get much better. Not so fussed, it's done now and no time to mess about.
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#53
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Originally Posted By: grungy-gonads
No offence taken. Asked a few places. Banks and the post office offered exactly the same rate. Would be most welcome to hear where I can get much better. Not so fussed, it's done now and no time to mess about.


Look at what you would have got 10 days ago, 160 is pretty good. "Its never too early to take a profit"

From BBC website today:
"Earlier on Monday the Group of Seven (G7) industrialised nations issued a statement warning that the strength of the yen was a threat to economic stability, which was taken as a threat of co-ordinated action to reduce the value of the currency.

While the yen briefly weakened, it soon climbed back towards Friday's 13-year high against the dollar.

The yen has been strengthening as a result of the end of the carry trade, in which traders borrowed the Japanese currency and used it to buy currencies with higher interest rates.

As the difference between Japanese rates and those elsewhere in the world has fallen, traders have been unwinding the carry trade, which means they have been using other currencies to buy yen, which has boosted the Japanese currency."

I just hope the Yen's topped out. I've just realised if enough ex pats in Japan start sending money back (ie selling Yen buying sterling) sterling will strengthen, so come on all you Brit SJers raid the Yen piggy banks and send it all back to Blighty biggrin .
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#54
Mr Wiggles

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Here's citi's buy and sell rates. According to kakaku.com, Sony Bank has a narrower spread and offers higher saving rates for foreign currencies than citi, but charges a small quarterly fee. I only know about citibank because ten years ago, it was pretty much the only place in Japan where a gaijin could get a credit card. Everywhere else would reject you six to eight weeks after your application.

FX Rates As of October 28, 2008

Currency BUY(TTS) SELL(TTB)

USD 94.6000 92.6000

AUD 57.9000 55.9000

NZD 51.8000 49.8000

GBP 145.6000 143.6000

CAD 73.5000 71.5000

CHF 81.7000 79.7000

EUR 117.2000 115.2000

HKD 12.4700 11.6700

THB 2.7800 2.6200

Again I'm sure an fx trader will have a narrower spread. Maybe check the other expat living in Japan forums for advice on a good one. You could possibly do it through E-trade Japan even, I dunno. I don't send money home because I'm married with kids and a house in Japan.
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#55
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I am interested in that, but don't know where to start. I have only used the bank and post office before. My Japanese ain't perfect, but don't I need to open some account on that kakakufx site?

#56
EddieTheEagle

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The pound recovered slightly yesterday. Just a bit!

#57
seedy

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And a bit more. But still around 160.

#58
Gloria Hunniford

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30% prices up - wow that is hard to take.

#59
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I got 161 btoday from the PO
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#60
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The pound is 141.6 to the yen now. Under $1.50 as well. With all the economic news, it looks like it could fall further as well.

I think the record from years ago is a shade under 130, but it didn't stay there for very long.
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