Comments on: Strong Japanese Yen

By: Japan Recession | Neil Duckett

Japan Recession | Neil Duckett — Tue, 10 Mar 2009 03:44:37 +0000

[...] a while there i thought i was immune to the recession in Japan and maybe i still am. With the Australian dollar very low against the yen it puts me in a pretty good position to service a few investments back home … for as long as [...]

By: Neil

Neil — Wed, 10 Dec 2008 23:35:16 +0000

You need to be living here to borrow Yen as far as i can tell. If you’re earning AU it will cost you a fortune to pay the loan back in Yen. It works for me if i buy in AU and pay it off in Yen. It’s possible to refinance an Australian mortgage in Yen and pay it off like that.

By: Andrew

Andrew — Wed, 10 Dec 2008 12:00:44 +0000

Does anyone know how you can borrow Japanese yen as a loan to buy property in Australia? I live in Australia.

Thanks

By: Billy kun

Billy kun — Sun, 19 Oct 2008 13:14:51 +0000

Cheers for the feedback atleast mate!
You got a good blog here!

By: Neil

Neil — Sun, 19 Oct 2008 11:04:10 +0000

I’m no expert Billy …. but i definitely wouldn’t change anything until i had too … i.e wait till you get here and if that’s the exchange rate then that’s what it is. History tells me it will be a while before the dollar is back to 1:1 … check out the RBA website for that info. http://www.rba.gov.au/Statistics/HistoricalExchangeRates/index.html

I guess it depends on what sort of cash you think you’ll need when you’re here as to whether you can borrow from family and pay back in a timely fashion.

Vague answer mate, sorry … but not area of expertise!

By: Billy kun

Billy kun — Sun, 19 Oct 2008 10:40:59 +0000

Hey I don’t really have anywhere to ask this and this place looks like a good spot to ask the question as you fellas look like you know your stuff..

I often travel to Japan to stay with my inlaws caus the mrs is Japanese.. Money wasn’t really a problem just using an international bank account and no big loss in exchanging from aus$ to yen..

I have a 1 month training, living trip in February next month to Kobe and ALL my money is in Aus$..
So with this huuuge drop I am going to loose thousands of dollars if i just change it all..

The only options I know of doing woud be
1. Go to Japan with no cash and borrow all the money we need from the in-Laws to use in Japan while we are there.. Then come home to Aus and pay them back when the dollar rises stronger again.. hopefully around 1:1

2. Just change it all and loose shitloads of cash then use what we use and when we come back buy back aus dollar (it probably wont be much buying back caus we will have little money left so we wont gain and we will still loose alot.) This is the worst option I dont want to do.. Borrowing from inlaws wont be a problem i dont think.

And thats about all i know of doing.. What should I do!?? Feedback will be highly appreciated from anyone!!

And if I do option 2 how long is it predicted that the aus $ will get stronger again? we obviously dont wunnu wait years and years to pay them back.

Thanks
-Billy

By: Neil

Neil — Thu, 09 Oct 2008 23:39:23 +0000

The Australian dollar has been VERY lucky of late, getting as high as it has …. just remember the good times where it was almost 1:1 with the USD …. for the majority of my life it’s always been closer to 65 cents. I have no doubt it will get back up there again, just a matter of when.

By: -Paul

-Paul — Thu, 09 Oct 2008 21:09:33 +0000

I just hope it stays exactly where it is for a couple of pay cycles…. and I hope the bank moves the price down somewhere close to the official rates…but I expect they will screw us..

By: steve

steve — Thu, 09 Oct 2008 07:58:02 +0000

It’s all fine and dandy for you guys..but all my money is in $AU and i have pre-orders coming up T_T..everything since i pre-ordered went up 30%…

By: Neil

Neil — Thu, 09 Oct 2008 07:52:32 +0000

“so gaining profit on aus dollars is only good once you go back to aus” – Gaining profit on Aussie dollars is good for whenever you need to pay for something in that currency …