View Full Version : THE DOLLAR - AGAIN!!
Elaine62
19-04-2005, 00:33
Now thinking about buying some TCs before I go (8 weeks on Fridya) and see that it is going up a little.
Any ideas if the election here will make a difference? Should I wait until after 5 May or is it better to buy it now?
Any thoughts?
Elaine
i am personally gonna hang on. labour stay - thats good stable. cons get in - thats good?? different set of liars
who knows
[msnsmile2]
Why not buy half now and half later - then you won't kick yourself if it goes the wrong way.[msnsmile][msnsad]
Katys Grandad
19-04-2005, 00:51
It's more a case of a weak dollar reflecting the US economy than the strength of sterling. I don't see the election result having any impact. Nice to see the £/$ nudging over £1.90 again though.
On the finance programmes on Tv they are projecting $2 to the £ before the end of the year. But when you are talking in the relative small amounts of holiday spends its neither hear nor there to what it is now.
andrewmckay5
19-04-2005, 01:45
Trouble is Paul they were projecting that in March 2004 and October (ish) 2004.
Quite right though where holiday spending cash is involved it is neither here nor there; as I've tried to explain to my Mum several times when she has given me her £200 to change up[msnsmile2]
andrew
PS how long till you close?
<blockquote id="quote" class="ffs">quote:Originally posted by amy
On the finance programmes on Tv they are projecting $2 to the £ before the end of the year. But when you are talking in the relative small amounts of holiday spends its neither hear nor there to what it is now.
[/quote]
On paper it looks good at nudging 1.90 but the post office is still just over 1.80:(:(:(:(:(:(:(:(
The bottom line Elaine is that nobody knows. Everyone has an opinion but nobody knows. Even the currency dealers down in London who will be dealing the dollar at 8am tomorrow morning don't know.
Best advice, buy your TCs now and then don't look at the exchange rate again. Spend the time looking forward to what you are going to do first when you land in Florida rather than worrying about the exchange rate.
flyrr100
19-04-2005, 06:33
Get them while they're cheap. It's swings and roundabouts. This time next year it'll be back to $1.20 to the pound.
(And about time too! It's our turn to have some cheap vacations!)
Calamity Jane
19-04-2005, 07:01
Just going slightly off tangent on this subject.... to all owners, if the dollar rate went as low as what flyrr100 mentioned, would you then set your US rates accordingly or would you keep them as they already are?? I dont use a currency convertor, I just have set rates.
Just a thought.:)
andrewmckay5
19-04-2005, 12:19
Jane,
if it went that low I would seriously think about selling and exchanging the dollars back into sterling.
andrew
<blockquote id="quote" class="ffs">quote:Originally posted by Calamity Jane
Just going slightly off tangent on this subject.... to all owners, if the dollar rate went as low as what flyrr100 mentioned, would you then set your US rates accordingly or would you keep them as they already are?? I dont use a currency convertor, I just have set rates.
Just a thought.:)
[/quote]
I would only buy a small amount of tc's, say $300 for emergencies. Then put everything else on c/card. You should get a better rate than travellers cheques, even taking cash out on plastic. More so if you use a nationwide credit card as they don't charge the normal 2.75% handling fee on any transaction.
<blockquote id="quote" class="ffs">quote:Originally posted by flyrr100
Get them while they're cheap. It's swings and roundabouts. This time next year it'll be back to $1.20 to the pound.
(And about time too! It's our turn to have some cheap vacations!)
[/quote]
Hope it doesn't get this low, [:O]
I would by a small amount and use Creditcard while over as the rates are very good.[msnwink]
pieman790
19-04-2005, 14:44
Nobody knows what the rate will do.They were saying this time last year the rate would hit $2.0/£ I personally cant see it breaking the $2 barrier nor can i see it dropping to $1.2.
We bought our villa last year when the dollar was $1.78-1.8 to the £ and thought we had got a good rate.
We are trying to buy as many dollars as possible whilst the rate is so high at the moment.
Even a few years ago when the rate was $1.45/£ it was good value as things are so much cheaper in the US compared to the UK.
CERICROWLEY
19-04-2005, 14:54
The exchange rate took an upscale yesterday as the japanese and american markets were having a bit of a dispute, which pushed the tourist up to 1.81 according to the BBC.
But unless you are thinking about exchanging a lot of money, the difference between 1.80 and 1.81 on a couple of hundred pounds or even £500 is approx $5 give or take.
Anything above 1.80 is excellent. About three years ago when we went out, it was $1.50, so we think the current exchange rate is brillant.
although it can go either way. the american election didn't seem to cause any adverse effects of the dollar, not sure if the british one will either.
The best way to get a good deal on your exchange is to shop around the exchange shops, and go with the best deal there.
Karen,
My rates are based around the $ as I pay all my bills in $. I would adjust my £ rates accordingly.
When we purchased the rates were between 1.38 and 1.44 [msncry]if only we had known. Just think how much more our pounds would buy us now. Make the most of the good rates and just enjoy yourself.
Jeff
chrizzy100
19-04-2005, 17:23
<blockquote id="quote" class="ffs">quote:Originally posted by flyrr100
Get them while they're cheap. It's swings and roundabouts. This time next year it'll be back to $1.20 to the pound.
(And about time too! It's our turn to have some cheap vacations!)
[/quote]
It would be nice.....I'm going back ot the UK next year...and don't fancy the cost of spending money....
flyrr100
19-04-2005, 17:24
I remember being in Texas while still a British resident and the dollar was at $1.10. That was in the mid 80s. I know the economy has changed since then, but the dollar is weak now. It will get strong again. Wish I knew when and how, I'd be a millionaire!
Buy now. If you have money to invest, invest in dollars or US property.
Katys Grandad
19-04-2005, 21:16
I usually lock into what I think are good rates by purchasing a futures contract or by making a small spreadbet. That way you don't have to part with large amounts of cash but are 'hedged' against a fall back.
LiesaAnna
19-04-2005, 21:21
lets face it, if you buy them now for $1.80-$1.90 thats still much better then last year!! so i would just go for it, maybe the next time they go down jump in before they go to a point where you'll kick yourself![msnwink]
I have tried to understand the market to no avail. I bought 6 months ago and got 1.84 now it is over 1.90 I feel short changed as is $2,000 difference in the amount I was changing.
To be honest 1.90 is pretty good and I would buy now if I needed. I personaly don't think it will get to $2
DOM
andrewmckay5
19-04-2005, 22:15
Remember Dom that a number of owners on here would have bought at under $1-50 not so long ago so i would be happy with $1-80.
andrew
<blockquote id="quote" class="ffs">quote:Originally posted by domster
I have tried to understand the market to no avail. I bought 6 months ago and got 1.84 now it is over 1.90 I feel short changed as is $2,000 difference in the amount I was changing.
To be honest 1.90 is pretty good and I would buy now if I needed. I personaly don't think it will get to $2
DOM
[/quote]
Magical Dreams
20-04-2005, 14:10
today its 182 in shop windows
thistle1314
20-04-2005, 15:12
1.85 from Travelex.
luckylady
20-04-2005, 16:00
The commercial rate is better.
1.91
Dom,
Thats how the cookie crumbles,
That's the risk you take it could have gone the other way.
I dont think overall 1.84 is too bad.
When you consider 2 years ago it was hovering around 1.60
I study stock and shares it's part of my job.
No set pattern you may get a forecast from the experts,
but not set in stone.
All they do is study form, very much on the same lines as you would, study horses before you placed a bet.
Its the unforseen that upsets the apple cart.
Barbara
Thorogoods
20-04-2005, 16:28
Anything over $1.80 is good. Would charge as much as possible on your credit card as this would attract the best exchange rates.:D
Don't get me wrong I am not p***ed off. Just saying I still (after all this time) don't know what factors effect the way the rate goes.
If I do find the formula I will post it later!!!!![:P]
DOM
I hear Marks and Spencer are very good for currency/travel cheques, it may be worth checking out their rates;)
Elaine62
23-04-2005, 04:19
managed to get $1.86 at Thomas cook, they price match anywhere and I couldn't get to M&S to pick up their better rate! Quite happy with this.
elaine
that is not a bad rate really. On ceefax is 1.91 so you have done well.
I ended up going to the airport to get euros and as I never took up the good offer from M&S was kicking myself as only got 1.34 from travelex. was horrified.
top tip, don't leave it til lastminute :(
DOM
Magical Dreams
23-04-2005, 12:52
The commercial rate was $1.91 on Friday, But it does not mean you get that even if you change large amounts (£40k etc)
These brokers make their living by changing money, so you would still expect to lose a couple of points of this rate.
So for a holiday makers to get £1.86 on changing £100 to £2000 is superb value.
Just imagine how far that will go in Florida?
[msnsmile2][msnwink][msntongue][msnsmile2][msnwink][msntongue][msnsmile2][msnwink][msntongue][msnsmile2][msnwink][msntongue]
Ray&Sarah
23-04-2005, 13:49
Might have to pop in and change a few £'s to $'s each month for the next few months until we go, spread the cost and the fluctuating exchange rate won't bother us as much.[msnsmile]
Southsider
23-04-2005, 14:34
Florida is 'the place to go for holidays' at the moment with the exchange rate being so good:D
Got 1.86 this morning at First Choice - they too will beat anyone. 967GBP bought us $1,800. Even though we're not going until July, thought we'd better get in quick and change at least a little bit up.
bluebirds
24-04-2005, 21:05
Just looked at M&S Online and their rate today is 1.85. May try the price match with Thomas Cook. We have one of those but no Marks where we live.
I bought some dollars today at 1.85 from M&S. Thomas Cook were only offering 1.81 and Lunn Poly said in their window "call in for the great dollar rate" which makes me think if it was that good wouldn't they advertise the rate in the window!
IanandSarah
24-04-2005, 21:19
Heard a programme on Radio 4 yesterday which indicated some of the High St Banks are charging a hefty wack on ATM withdrawals if you use you Debit Card. Well worth checking with your Bank, as some were costing around £4.50 if you got cash out, below a certain limit, which was around £120.00 so could lose any benefit of good exchange rate very quickly if you withdraw cash, and the charge for Card purchases have gone up too, so again, worth a check with your Bank exactly how much they charge for various transactions,
Ian and Sarah.