Been tracking the US dollar lately? Oy vey...In an effort to make US exports more attractive (from what I understand) the US has been reducing the value of the dollar against foreign currencies (no idea how that works, I just know that's what I've heard).
Good for exports, bad for ex-pats.
When we were in Australia in 2009, the Aussie dollar was worth about 80 cents against the US dollar.
When we arrived last August, the Aussie dollar was worth about 90 cents against the US dollar.
Today, the Aussie dollar is worth about 1.10 against the US dollar.
Jeff is paid in US dollars into our US bank account. That means that when we transfer money from our US account to our Australian account, we get less money.
Back in August, if we transferred $1,000 from our US account, $1,111 showed up in our Aussie account, less the bank fees (I think; it's never a good idea to completely trust my math).
Now, transferring $1,000 from the US gets us ... $900 Aussie. Less the bank fees.
Ah, the joys of international finance.
There's really nothing we can do about it but sigh and continue to enjoy this time as best as we can.
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