Case Studies

When bringing money over from a foreign country to Australia, the foreign exchange rate can significantly alter the amount of Australian dollars that end up in your bank account. World First can help in two ways:

We will provide a better foreign exchange rate than your bank.

We will offer you products to reduce the impact of adverse foreign exchange rate movements.

Immediate (Spot) Transaction

Mr. Johnstone emigrated from the UK to Australia and had £100,000 to move over from the UK. He needed to make an immediate transaction (known as a "spot" transaction). He initially sourced an exchange rate from his bank and then compared it to an exchange rate he obtained from World First:

	Retail Bank	World First
Exchange Rate	2.0450	2.0856
Transfer Fee	£30	£0
Total Cost	$204,500	$208,560
Total Saving		$4,090

Forward Contract Transaction

On 05^th March 2008, Mr. Jones agreed to buy £100,000 of Australian $ with payment due on the 12^th June 2008. Between the 05^th March and the 12^th June 2008, the sterling to Australian dollar exchange rate moved from 2.1800 down to 2.0600.

The amount of Australian Dollars Mr. Jones would have received on 12^th June by booking a forward contract on 5^th March 2008 is $218,000. If he had not booked a forward contract and he took the prevailing rate on 12^th June 2008, he would only have received $206,000.

With the forward contracts we offer, you can have peace of mind knowing that irrespective of exchange rate movements, you will always have a fixed sterling cost.

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