View Full Version : exchange rate - elections
traceya89
26-10-2004, 18:04
the exchange rate for $ seems to be rising. at the bank today it was 1.762 and was 1.74 a few weeks ago. obviously at different places the rates vary. is the increase because of the election and does anyone think it is likely to rise further.
I was listening to a topic on the radio this morning and the analysts are saying that America are purposly allowing the dollar to weaken. They are pedicting that it may go to $1.50 v's the Euro (currently $1.28 ) so for what its worth you should hang on!
David
Does seem worth hanging in there for a bit
XE are quote 1.839 at the moment.
LiesaAnna
26-10-2004, 20:19
post office yesterday morning i ordered them at $1.75.??? to the £1
which was better when i ordered a load 3 weeks ago! which was $174.????
:)
I am holding on a little longer before I transfer anymore cash.
DOM
Robert5988
26-10-2004, 22:04
<blockquote id="quote" class="ffs">quote:I was listening to a topic on the radio this morning and the analysts are saying that America are purposly allowing the dollar to weaken. They are pedicting that it may go to $1.50 v's the Euro (currently $1.28 ) so for what its worth you should hang on!
[/quote]
This has been said many times. The best brains in the financial centres of the world, with access to every possible piece of data, try to estimate which way exchange rates will go. They gamble millions on the £/$ rate changing by a fraction of a cent. They often get it wrong as rates are affected by unforeseen and unforcastable events - war/terrorism etc.
The exchange rate at any time is what these experts think it is worth. If they knew the Dollar was going to weaken, even by one cent, they would be selling billions of dollars to buy them back at a later date and make a big profit.
It should not be forgotten that many financial analysts have a vested interest in spreading ‘misinformation’.
Us poor mortals have no chance – I can confidently predict if the exchange rate changes it will go either up or down!!!
Agreed, I can confidently predict that the rate is better now than it was when I bought last December but not quite as good as I got in March [:P]
The rate will be as good a rate as it has been for quite a while so whenever you buy them it will be a good rate so don't worry too much about whether you could have saved an extra cent.[msnwink]
Hi Tracy,
I bought from the Bank this morning at a rate of $1.76 which is not too bad. My friend Mo said that M & S are offering $1.77 which is quite good. The trouble with exchange rates is that they can go down as well as up, but you often get a good rate just using your credit card when in the States.
Cheers[drinkbeer]
Val
Magical Dreams
26-10-2004, 22:15
M&S always seem to offer slightly better rates!!
Not as greedy as other high street stores!!
[grouphug]
SunLover
26-10-2004, 22:41
We just transferred some cash to our US bank account using an online money transfer company.
We got a rate of $1.80 to the £1.00.
belfastbob
27-10-2004, 02:53
THE RATE AT THE LOCAL ULSTER BANK IN BELFAST TODAY WAS $1.81 TRAVELLERS & $1.80/£1 FOR CASH.SO WE JUST BOUGHT AT THAT RATE,BUT WERE TEMPTED TO WAIT.I'M TOLD THE TRAVEL CHEQUES ARE ACCEPTED JUST LIKE CASH,IS THIS RIGHT?
trailblazerxp
27-10-2004, 03:17
Yep, travel cheeques are accepted as cash. Just make sure you sign the correct part before handing one over though, or you'll have to go through an exchange procedure later.
Change is given in US dollars/silver.
TBXP
For the first time this year we were charged to use our credit card in the USA. We have always used the card and got a very good exchange rate so thought it to be safer than cash or travellers cheques to take. However on our return after Easter we found out that we had been charged a fee, for every transaction we had made. In the future we may stick to cash or travellers cheques
Magical Dreams
29-10-2004, 16:30
If they are offering $1.80/£1 that is superb!
Lunnpoly are offering $1.757391 on the net!
M&S are offering $1.772 on the net
We got $1.833 in July by using a currency broker!
If it is just spending money for your trip, these small changes in the rate are neither here nor there, it only really comes into it when large amounts are transfared over to the states.
McjohnjM
29-10-2004, 18:06
Can' understand why you were charged for using your credit card, we were also over in the US at Easter this year and used the card, shall we say on more than one occasion and did not incur any charges. For your info. we have Barclaycard and an Abbey direct debit card.
John Mc
Sometimes it doesn't show up as a separate cost but is absorbed into the actual transaction. Most credit card companies do charge an 'exchange fee' so it may be worth checking to see if you were in fact charged.
I didn't think I was charged until I was refunded and the difference between the transaction and the refund was £5...it turns out I was charged an 'exchange fee' both times so ended up paying £5 for nothing!!!
One reason why this trip I will be using the Nationwide card :D
We use Barclaycard and the charge never used to show, they normally charge about 2.75 percent, but the exchang rate always seems quite favourable. We are going to get the Nationwide card for January,
I thinks the rules were changed a while ago.
Kaz
LiesaAnna
29-10-2004, 20:11
<blockquote id="quote" class="ffs">quote:Originally posted by KJHewitt
We use Barclaycard and the charge never used to show, they normally charge about 2.75 percent, but the exchang rate always seems quite favourable. We are going to get the Nationwide card for January,
I thinks the rules were changed a while ago.
Kaz
[/quote]
can you advise me please,
my hubby has a debit card with nationwide, we can put our holiday money in that account and use the card in florida???????
sorry we dont often use cards so not aware of whats to do
cheers[msnwink]
Rich-n-Ang
29-10-2004, 20:53
[/quote]
can you advise me please,
my hubby has a debit card with nationwide, we can put our holiday money in that account and use the card in florida???????
sorry we dont often use cards so not aware of whats to do
cheers[msnwink]
[/quote]
Thats one way of doing it Liesa, or get a Nationwide credit card (several posts on the forum saying how good they are) and just pay off the balance when the bill comes in when you return home.
Michele L
29-10-2004, 20:53
Yesterday I got $1.815 at a money exchange on victoria Street, London and no commission. I got my sister £1000 worth - she had got quoted $1.72 the week before, so she got nearly $100 more - so yes it is worth shopping around if you are exchanging over £500.
In May I used my current account card from barclays and got a good rate (out of the cash machine in Wal-Mart). I think it is better than taking travellers cheques.
Michele
Katys Grandad
05-11-2004, 23:55
£/$ near 6 month high today. It's unusual because it normally drops like a stone when I'm due to go to the US.
Might be worth a purchase this weekend. On the other hand, it might go higher still. I'll probably get it wrong again.
Why not split the difference and do half now and half later - that way you won't kick yourself if it goes dramatically up or down.
Jo
it's sitting at $1.86 at this moment in time
Katys Grandad
06-11-2004, 09:34
That's good advice Jo. I've just transferred some money to my $ account on the strength of it!
We always keep an eye on the exchange rate and pick a number ie if it reaches 1.70 we will buy.
Always get our $ from M&S at Bluewater and as I`m always at B/Water its no prob.
This year we have bought $ on three occasions got different rates each time but feel happy that we have got a good deal, I guess what I`m trying to say is that I agree with Jo and split our money up and buy whenever we can.
traceya89
06-11-2004, 23:11
where is it 1.86 at???
It's sitting at 1.85699 on xe.com at the moment (it sticks over the W/E when the markets are closed). You don't get that rate, usually 0.03 less and only for transferring larger sums of money - not tourist rate. Moneycorp is often a little better at about 0.01 less than the rate XE quotes.
Drew
Dollar closed at $1.86 today
Kaz
An article in The Sunday Times was saying that it is predicted to go to $2 over the next few months.
MaggieAllan
08-11-2004, 01:24
Nah, we can't be that lucky, it always drops when we decide to buy!
We go at Christmas so I predict that it will drop around the middle of December... you heard it here first;)
Then it will rise again as the markets open in January...whe we are back.
You think I'm being pessimistic? Well in the last 43 years the most I've won is a packet of Cadbury finger buscuits in infant school. But I always seem to give good advice to others, e.g. picked all 7 winners at Haydock for a friend, but know nothing about horse racing.No money on them myself of course.[msnwink]
article in today's observer was suggesting the dollar would go into free fall, they quoted at least 20% (bal of payment problems etc) this would seem to support MTP's post
Katys Grandad
08-11-2004, 08:43
I guess there are a lot of Florida home owners from the UK posting on this site for whom a fall in value of the US$ is not good news at all. On the other hand, I suppose it is offset by a rise in the property value.
Also for those who have a US mortgage it means that the payments are effectively less, are as the bills. Although I think that the main effect on paying the US bills for villa owners would depend on where the bulk of their guests book from.
Magical Dreams
10-11-2004, 14:14
M&S are advertising $1.798 today!!
Thats a great rate for people travelling now!!
[beer][beer][beer][beer]
Just obtained 1.838 from Moneycorp this morning,very happy with that :D top up my BoA account nicely.
traceya89
11-11-2004, 02:26
i got 1.80 yesterday from a shop that cashes post dated cheques, cant recall the name, and it is not a place i ever take any notice of but i did see the sign advertising $ so went in and bought some currency. will be back browsing by tomorrow to see what the rate is.
p.s. mr. g where is moneycorp???
Moneycorp is based in London. Google search should find them OK. Deal with commercial rates and sending cash abroad. I have found them to be excellent.
pieman790
12-11-2004, 14:05
seems like the rate is dropping again.
Katys Grandad
12-11-2004, 14:54
Up again a little today!
As others wiser than me have observed on this thread, unless you are exchanging significant amounts the differences are not that much. The funny thing is I always feel that I should try to squeeze every extra cent from the rate. As a result I usually miss out!