Exchange Rates

**Susan** · 29-01-2007, 14:37

Can anyone advise whether it's worth buying dollars now, or should I wait? We're not travelling till December, but I thought $1.91 to the £ was pretty good.

Sue

**CERICROWLEY** · 29-01-2007, 14:40

Susan

You could always buy half now and then wait to do another exchange later in the year. There is really no way to tell if it will go up or down in that time.

But if you are happy with $1.91, then thats what matters.

**Robert5988** · 29-01-2007, 15:26

If you buy now for December you will be 'losing' approx 4% interest that you could get in a UK savings account - that effectively reduces the rate by 7-8 cents.

There is simply no way to predict which way the currency will go - if there were we would all be very rich.

Depending on how much money you wish to exchange, you could buy foward currency(you 'reserve' an exchange rate) - but not worth it for small amounts.

**palmvillas** · 29-01-2007, 18:56

I agree with Robert view, saving your money will give you a reasonable return and a little extra with which to buy more dollars. It is impossible to tell how the exchange rate will fare during the year. A month ago $2 looked certain, but now the trend is easing back a little.

Save and hold firm for a while

Neil

**Susan** · 29-01-2007, 19:57

Found $2 buy forward at Interchangefx, so going for that. Thanks for your replies.

Only 304 days to go [clap]

**Robert5988** · 29-01-2007, 21:47

<blockquote id="quote" class="ffs">quote: Found $2 buy forward at Interchangefx, so going for that. Thanks for your replies.

Only 304 days to go [/quote]

You are happy that your money is secure with this type of firm?

**MarkJan** · 07-02-2007, 03:02

Even if you "only" get £1=$1.91 and after losing possible UK interest, it is still much better than the old days of £1=$1.50 and less.

**domster** · 09-02-2007, 10:46

It has been very steady for the past 2 weeks now. I would buy if I was in the market for some dollars.

**vanessag** · 09-02-2007, 21:59

I would hang on a bit and watch what the UK interest rates are doing over the next few months, when they go up the £ to $ goes up. They didnt put them up yesterday, however they will more than likely go up again before you go.