Off to Japan in Oct - when should I get yen?

Saijin_Spooker

Hi everyone,

I said I would do it this year whatever happens, so I've booked my flight to Japan for October! The trouble is that I didn't expect that the pound would drop so badly. I've tralled the web for exchange rate predictions, but they've been either based on the US dollar or not very helpful.

Can anyone give me some advice on a good time to buy some Japanese Jen?

Thanks in advance,

[Deleted User]

On Wednesday 26th of August 2009 at 0453 UK time, the yen will trade at 218.33 to the £.
Trust me on this one. I have a little fairy whispering behind my ear and so far, she's never let me down.

randomtask_2

travellingbum wrote: »

On Wednesday 26th of August 2009 at 0453 UK time, the yen will trade at 218.33 to the £.
Trust me on this one. I have a little fairy whispering behind my ear and so far, she's never let me down.

Your little fairy is very optmistic, or confusing 2009 with 2007!!!

To the OP - the £ now trades with the yen at something like 60% of what it was worth in the past year or so, so you're just really unfortunate with your timing.

[Deleted User]

randomtask wrote: »

Your little fairy is very optmistic, or confusing 2009 with 2007!!!

My little fairy only gets confused when she's drunk and right now she's sober.
When she's had one or two too many, she tends to fly into the wall or hit a lightbulb.

HallamLad

Buy your Yen throughout the year, if the Yen is rising buy more, if the yen is falling buy less. Spreads out the risk.

I'd buy a little now, give it a couple of months and see which way the rate is going.

Saijin_Spooker

Thanks, thats not a bad idea. Usually I try and get it all at once.

Though I will keep an eye out on 26/08/09!

oggydog

i went last year to Japan and we would have been better changing when you get there you get a much better rate. Also make sure you get a japanese rail pass. It saves you so much money! you have to go in to london to collect it due to the Japanese law but its well worth it! Their public transport is great

AHAR

oggydog wrote: »

i went last year to Japan and we would have been better changing when you get there you get a much better rate. Also make sure you get a japanese rail pass. It saves you so much money! you have to go in to london to collect it due to the Japanese law but its well worth it! Their public transport is great

The rail pass won't save you money if you don't travel far enough by train. Use something like the Jorudan web site to calculate the costs of the journeys you'll take, convert that amount into £ and then see what the pass is being sold for here.
You don't need to collect the rail pass from London. I bought mine online from www.japantravel.co.uk the last time I went as they were using the most favourable exchange rate to convert the Japanese price at the time.
Oggydog is right that the public transport is great.

inspector_monkfish

Saijin_Spooker wrote: »

Hi everyone,

I said I would do it this year whatever happens, so I've booked my flight to Japan for October! The trouble is that I didn't expect that the pound would drop so badly. I've tralled the web for exchange rate predictions, but they've been either based on the US dollar or not very helpful.

Can anyone give me some advice on a good time to buy some Japanese Jen?

Thanks in advance,

Do it in October.
and don't look at the rate AT ALL until then.