If the rate climbs or falls you get your dollars at the exchange rate you purchased at. I bought last June at 1.92 and by the time we went to Florida in October and the dollars were delivered it was down to 1.62! I still got 1.92.
Obviously it could go the other way but as long as you're happy with the rate you get then it doesn't really matter. Look at fixed rate mortgages, mine is fixed at 5.69% and a year after taking it out, the variable rate is something like 1.25%.
Garry Pullan
<blockquote id="quote" class="ffs">quote:Originally posted by blott
<blockquote id="quote" class="ffs">quote:Originally posted by Katys Grandad
Starting the week down - around $1.41 so below $1.40 at the FX shops. The site in the above post is offering $1.49 for June delivery. That seems quite good considering June is only a few weeks off now.[/quote]14 June 2009, the date from which they're offering 1.49, is 10.8 weeks away so maybe the rate's higher because they require payment within four days, no matter for which dates you've ordered?
[/quote]
Of course that's the rub here but these days your money isn't earning anything in the bank so no real loss of interest in the interim period. The real worry is whether this outfit are still going to be there when it comes time to hand over your currency. Even so, it's been quite a while since you could get anything close to $1.49 from a retail outlet.
I suppose we should always add that we aren't offering financial advice here and aren't qualified to do so. We should each asses the risks to us before going ahead.
<blockquote id="quote" class="ffs">quote:I suppose we should always add that we aren't offering financial advice here and aren't qualified to do so. We should each asses the risks to us before going ahead.[/quote]Amen!
We should listen to the 'experts' in the newspapers. I was reading an old cutting recently in which they stated that HBOS was well undervalued at £9 a share - voted a 'strong buy'!
Personally I would never buy currency ahead unless I was absolutely certain the my money was 100% safe.
See my posting on pg2 31 Aug 2008, so much for experts!
<blockquote id="quote" class="ffs">quote:Originally posted by BIGEYE
See my posting on pg2 31 Aug 2008, so much for experts![/quote]I suspect that Robert's advice was somewhat tongue in cheek![msnwink]
If anybody has any real idea where it's going (which I doubt), by the time the mere mortals such as us become aware it's much too late.
The UK is on the brink of bankruptcy. Too much debt, no industry, the only exports we have is to farm out customer service call centres. I think that the G20 summit will identify the UK as the country with the largest debt outside the third world countries.
The exchange rate seems to be making a bit of a recovery, great news for all of you who are there for Easter[clap][clap]....long may it continue.
<blockquote id="quote" class="ffs">quote:Originally posted by FraserLynn
The exchange rate seems to be making a bit of a recovery, great news for all of you who are there for Easter[clap][clap]....long may it continue.
[/quote]
Indeed, it's been a while now since we last fell below $1.40. (In fact I think the lowest levels coincided with your recent trip Fraser[msnwink])
Just over $1.45 this morning which is a rise of about 4 cents since Monday but just below the best of last week's levels. It seems to be holding a range between $1.41-1.47 at the moment. Be nice to reach $1.50 which always looks a lot better then $1.49!
EDIT - Up over 2 cents since this morning - almost $1.47 this lunchtime.
Retail rates will, as ever, be 3 or 4 cents lower than these.
Indeed, it's been a while now since we last fell below $1.40. (In fact I think the lowest levels coincided with your recent trip Fraser[msnwink])
That's just my luck!
<blockquote id="quote" class="ffs">quote:Originally posted by FraserLynn
Indeed, it's been a while now since we last fell below $1.40. (In fact I think the lowest levels coincided with your recent trip Fraser[msnwink])
That's just my luck!
[/quote]
I think you're now under a duty to us all to give full notice of the dates of any future trips[msnsmile2].
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