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  • Cashing in some Dollars
  • nickjb
    Free Member

    We’ve got a fistful of dollars leftover from recent travels in the US. Only back of the sofa money by stw standards, 1k or so. Thinking now that we are unlikely to go back in near future and it might be sensible to convert them back to pounds. I know we are only part way through the current situation so the rate could still plummet but the money isn’t doing anything. Where’s best to get a reasonable rate? Post office? Do we need to do something online to get a better rate?

    P-Jay
    Free Member

    Post Office seems the easy choice.

    As for the timing – you have to consider that this current fubar situation has been caused by words rather than events – this is a market reaction to announcements, so it’s likely the initial shock will be followed by recovery as nerves calm so now might be a great time to sell up.

    It seems to me the markets think it’s temporary, the FTSE is at an all-time high because US investors are buying shares because they’re cheap, rather than leaving in droves because they think we’re sunk.

    P-Jay
    Free Member

    Another thought, whilst you might not be planning to go to the US soon, are you planning any other trips – it might be worth holding onto them, then converting them to Euros or whatever in-country on your next trip.

    oldnpastit
    Full Member

    I’m putting all my savings into a Nigerian Marmite mining company. Seems legit, I should clean up.

    IHN
    Full Member

    If it’s a thousand or dollars or so, you stand to ‘make’ or ‘lose’ about twenty quid tops due to rate variations between currency exchange places and the rate wobbling around as it is at the moment. Just use the method/place that’s most convenient.

    GrahamS
    Full Member

    I’m hanging on to dollars and also buying Levi’s and cigarettes to barter with post-Brexocalypse.

    I hear shiny shells and squirrel skulls are good hedge investments too.

Viewing 6 posts - 1 through 6 (of 6 total)

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