buying dollars

Thanks paddy buying curr in two weeks time keeping fingers cross hope its still high carnt see it going below the 175 for at least month or so.

Today's M&S rate is $1.816 - who remembers the heady days of $1.33 of only a couple of years ago?

where at ?

"Also those property owning Brits seeing their investment devaluing in £Sterling terms!!"

Robert,
I'm still in the process of buying a villa and this is great news as I've saved several thousand on the cost of the villa due to these rates.

<blockquote id="quote" class="ffs">quote:"Also those property owning Brits seeing their investment devaluing in £Sterling terms!!"

Robert,
I'm still in the process of buying a villa and this is great news as I've saved several thousand on the cost of the villa due to these rates.
[/quote]

Barry,

Whether the UK£ is at 1.40 or 1.90, when buying a property we have all faced the dilemma of when to change our money. It is still a gamble on which way the exchange rate will go.

To illustrate the point I was making, I know someone who bought a Condo near Cocoa Beach for US$ 190K when the exchange rate was 1.40. He is now about to sell for US$350K and bring the funds back to UK at 1.88.(currently)

However exchange rate losses on buying and selling reduce the US$160k profit to £50K. He then has the buying and selling costs and Capital Gains Tax to pay.(CGT in USA doesn't take into account exchange rate losses) This with the loss on his furniture means he will lucky to break even. That is before you consider mortgage costs and loss of income on the capital he invested.

Those about to buy at today's inflated prices have no certainty that their property will increase in value - it could possibly drop - and the exchange rate can still work against them

Hi all bought part of my dollers today at 180 been told its going to dive the next couple of days so we will see what friday brings just hope it doesnt dive that much got use to see it at 170s plus not like what it was a year ago 154 carnt be to greedy can we. [msnsmile2]

We got 1.86 last week through a broker, then hubby spent the next few days watching the $ drop!
Hopefully by the time we have enough of a decent amount to transfer to to US account it will be back up.....Mr CDV watches it like a hawk and knows exactly when to pounced!!! (drives me nuts)!
[}:)]

<blockquote id="quote" class="ffs">quote:Originally posted by dave.parks
Hi all bought part of my dollers today at 1.80 been told its going to dive the next couple of days so we will see what friday brings just hope it doesnt dive that much got use to see it at 170s plus not like what it was a year ago 154 carnt be to greedy can we. [msnsmile2]
[/quote]It went down as far as 1.34 in 2003!

First trip when I went in 91 I think, it was something like 1.39 if I remember rightly, then for a few years is sat aroung 1.40 -1.50. so things are still better then back then!

Bought the last of my dollers 180 Lucky though i prebooked the last lot wed before it dive . But been told it should pick up mid next week not much though. [msnsmile2][msnsad]