The value of the British Pound

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  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    Combo Breaker First Post
    edited 16 October 2016 at 4:46PM
    colsten wrote: »
    Ah, that's alright then. Really nothing to worry about, and all those experts who say that the pound is having a bad time by any measure should just shut up as we have had enough of experts.

    image.jpg

    it would seem that the price of things are significantly dearer today than in 1970.

    however, I seem to be a lot better off than in 1970

    maybe there is another variable that is missing from this analysis of trade weighted currency value, that affects how well off we are.
  • schiff
    schiff Posts: 20,099 Forumite
    Name Dropper First Post First Anniversary
    CLAPTON wrote: »

    however, I seem to be a lot better off than in 1970

    maybe there is another variable that is missing from this analysis of trade weighted currency value, that affects how well off we are.

    Me too. I think the competitiveness in prices for pretty much everything which can be accessed on the internet - if you are a motivated value chaser - is a plus. And the fact that wages have been generally on the rise and index-linked pensions have helped. Looking around on MSE for value in investing your savings does no harm either!
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    Ballard wrote: »
    I don't agree at all. We are talking about a scenario of high inflation. This may or may not come to fruition but if it did then it would hit those who barely manage to support themselves now. It's the people on pre-pay electricity meters and value baked beans who would really feel the pinch.
    Index linked benefits.

    And we are yet to assess how bad the inflation time bomb is.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Ballard wrote: »
    I don't agree at all. We are talking about a scenario of high inflation. This may or may not come to fruition but if it did then it would hit those who barely manage to support themselves now. It's the people on pre-pay electricity meters and value baked beans who would really feel the pinch.

    Going to hit the highly indebted. As incomes will be squeezed. Rising interest rates being the final nail.

    Value baked beans are UK produced so won't be hit by imported inflation.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    Combo Breaker First Post
    Thrugelmir wrote: »
    Going to hit the highly indebted. As incomes will be squeezed. Rising interest rates being the final nail.

    Value baked beans are UK produced so won't be hit by imported inflation.

    I'm not sure that our haricot beans are all grown in the UK
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    Apparently they can grow the beans in Canada. These beans seem to be fussy about the soil in the UK.
    http://www2.warwick.ac.uk/newsandevents/pressreleases/scientists_on_a/
    We will genetically alter them to like the UK or else.
    J_B.
    We could try growing them in plant pots with a southern aspect.
  • System
    System Posts: 178,092 Community Admin
    Photogenic Name Dropper First Post
    I'm not sure what point you are attempting to make with the USD rate.

    I know it's been over $2 as I got it at that time.
    The rate hovered around $1.50/1.60 mark - with anything above a bonus.

    The US used to be cheaper than the UK, but in recent years but I find the USD shelf price + sales tax isn't massively different than the UK cost (VAT inclusive). A $1.20 rate will only exacerbate this.

    Companies I've worked for either traded within Scotland/UK, or with other countries tended to bill in their local currency (EUR/USD), so the exchange rate never affected their product prices.

    jumperabv3 wrote: »
    Everyone can be concerned by what's affecting him/her the most, so for you USD could be a concern, for me ILS and THB are bigger concerns...

    And if the GBP/USD does concern you - how do you feel about seeing the GBP worth $2.00 about 8 years ago and now it's worth 40% less?
  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
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    Heng_Leng wrote: »
    I'm not sure what point you are attempting to make with the USD rate.

    I know it's been over $2 as I got it at that time.
    The rate hovered around $1.50/1.60 mark - with anything above a bonus.

    Anything above is a bonus - says who?
  • lstar337
    lstar337 Posts: 3,441 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    Ballard wrote: »
    In the grand scheme of things, though, I'll survive. I'm of the opinion that if I can afford a holiday then I've got little to worry about.
    I commend your attitude. As somebody that can rarely afford a holiday, it is nice to hear that from somebody who can.
  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
    First Anniversary First Post
    lstar337 wrote: »
    I commend your attitude. As somebody that can rarely afford a holiday, it is nice to hear that from somebody who can.

    The prices in other countries are not going down so when you travel with pounds you will find spending lots more in order to afford vacation, overseas investments, and basically anything that has to do with the word 'overseas' has just turned to be super expensive for the average and for the non-average Joe from UK.
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