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  • Off to the states in Autumn. Exchange rate Gamblng
  • dabaldie
    Free Member

    So, of to the States later in the year and wondering when to buy the Dollars.
    We’ve been tracking the rate for a few month now and its gradually sliding, with the odd recovery. 1.40ish
    Now I know a big chunk of the slide was Boris joining the Brexit campaign, and the general consensus is that it we vote leave then the rate will fall further (one report said 1.15 ish)to approx. 1.30.
    Now if we remain then the rate will recover slightly in most opinions.

    What would you do. I’m thinking of buying£500 next time I see it at 1.42 to cut my risks, or do I put all my dollars in one basket, and wait……

    jambalaya
    Free Member

    Depends a bit on your transaction costs, 2 lots can eat up a chunk of any saving – worth doing that calc now. Mid rate is 1.42 now if you want to change some now don’t mess about with a target just do it.

    tonyg2003
    Full Member

    As Jambayala says you need to look to your transaction costs since at $500 and 1-1.42 it will probably be at a rate of 1-1.48-49. Even if it goes to 1-1.30 you won’t be more than a few $better off.

    Sterling might weaken further. I have a big $to £ business transation that I’m waiting to push the button on so I’m watching exchange rates very carefully!!

    mikewsmith
    Free Member

    Put 100 a month onto a pre pay currency card? If you are happy with today’s rate buy today (factor your plans on the rate you lock in) there was a us/au change last autumn just before I left blew some of my plans out on the other hand going the other way would have been a bonus. Just meant for certainty I should have pre paid the hire car and hotel at the rate when I booked.

    Rest of the time same as the rest of the world I buy as I go.

Viewing 4 posts - 1 through 4 (of 4 total)

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