Dollar Cost Averaging

If you don’t think the current FX rate is competitive, then you could decide to transfer funds to Australia on a stage basis – e.g. moving money once per month or once per quarter.This would enable you to obtain the average rate over a period of time, rather the rate applying now.

However, the disadvantage of moving money on a staged basis is that if you are not getting any interest on the money while it is being held overseas and you could have invested that money and been able to generate a return on the money in Australia, then you might have been better taking what you think is a less attractive FX rate in order to get the full benefit of investing the money or using it to repay debt (and thus save on interest payments).

If you are intending to ‘wait for a great rate’ then you need watch the FX movements very carefully and be ready to move when you think the great rate is available.