Australia’s strong dollar is good news for those planning a trip overseas. Most experts, however, are warning that you should take advantage of the high rates now, before they fall back.
The Aussie fell back a little on Friday, but. the dollar was nearly 80 cents against the US currency earlier in the week – meaning you were getting almost 10% more bang for your buck than you got in December, when it was just 71 cents.
“I feel that there may be a little more movement to come but I wouldn’t expect a lot,” Daniel Wright, sales director at Foreign Currency Direct told us.
“Both the U.S Dollar and pound have taken a bashing lately. Trump and political problems are holding the U.S Dollar back where as economic, political and Brexit problems are kicking the Pound whilst it is down.”
“Both of these currencies however I expect to fight back, they are both always in demand and it would only take a little bit of positive news to push them back on the up again.”
So what should a savvy cruiser do?
The increase in the Australian dollar only benefits if you pay for something priced in a foreign currency.
Some cruise lines charge onboard expenses in US dollars – Royal Caribbean is one of them. Carnival Cruise Lines, on the other hand, charges in Aussie.
So top up your travel card with the Green Back or just buy dollars.
But don’t expect to see cruise price drops unless the rise is sustained. And most experts don’t think it will last long.
“While the fluctuation won’t have an effect on our cruise prices, the best destinations to visit to make the most of the currency increase would be either the USA or the Baltic region”, Monique Van Gelder National Marketing Manager at Cruiseabout told Cruise Passenger.
Here are six ways to cash in right now:
- Buy your cash – even if you are not travelling for a while, make the most of the favourable exchange rate by buying your foreign currency in advance.
- Currency cards – if your ship uses USD or GBP on board fill up a pre-pay currency card now to pay your cabin bill.
- Swap your domestic cruise for an international one – if you were thinking of booking a cruise on the Australian coast why not look further afield to save yourself some cash.
- Book shore tours – if you are planning to arrange your own shore tours book them now with local companies in foreign currency.
- Book flights – if you are flying abroad to join a ship anytime in the next year and you need to arrange your own travel, now is a great time to book your flights with foreign airlines. Make sure to select payment options in foreign currency.
- Book international pre-cruise accommodation – if your pre- and post- cruise hotel are not included in your cruise package book them now.