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rowan · 03-09-2005, 06:32 AM

I get my cheques converted on the spot (no 5-6 week clearance wait) so recently I've been following the exchange rates to figure out the best time to deposit them. In the short term (a few days), rates can swing the converted amount by a couple of percent gain or loss. Of course in the long term there could be considerable more money made (or lost), but I'm more interested in maximising my income rather than directly investing in forex.

Yesterday the AUD was at record levels for the past 6 months so it was definitely not the day to be converting this bundle of USD cheques to Australian dollars!

Do you guys also time your cheque deposits?

03-09-2005, 06:32 AM
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	Non USA webmasters - do you time your cheque deposits? I get my cheques converted on the spot (no 5-6 week clearance wait) so recently I've been following the exchange rates to figure out the best time to deposit them. In the short term (a few days), rates can swing the converted amount by a couple of percent gain or loss. Of course in the long term there could be considerable more money made (or lost), but I'm more interested in maximising my income rather than directly investing in forex. Yesterday the AUD was at record levels for the past 6 months so it was definitely not the day to be converting this bundle of USD cheques to Australian dollars! Do you guys also time your cheque deposits?