Question of the Week: When should I buy my foreign currency?

kissingsky

Hi Guys,

Since last few weeks Euro is in good position for buying.So if you are planning to go abroad and need euros then better to get some.Though there is chance that euro will still be in worse condition but so far at this time good rate. You can get euros at 1.15 easily.

kissingsky

Well time to buy euros as the rate is 1.17 almost and you can easily get 1.1580 from any Money exchange though there are strong chances that euros will be further down (means better rate).

And again good time to sell Dollars as the slling rate is 1.57

albionrovers

Drusillamac wrote: »

Hello all,

I tried to apply for Travelex card online but it didn't like my Visa debit card. Due to this they were unable to process my order online. ===

Howe long does it take to get one of these cards?

Can I order 1 today and collect at Glasgow Airport on SAT lunch time?

kissingsky

Hi all,

here comes Dollar down again.So it is good time to buy dollars.At this time Dollar Rate is 1.58 so you can easily get at 1.5650 or 1.57 (19/10/2011 17:37 pm).I think that dollar will get stronger against Euros and pounds so at this time it would be wise to get dollars at good rate.

mbugle

I have found that when buying holiday money there is no best time to get it. I seem to always get my money months before and then a couple of weeks before I go there is a much better rate, sods law I suppose! I have no reverted to getting at the last minute with the attitude that I don't have a choice... Not the best I know!

kissingsky

Hi,

Wel unexpectedly Euros is in better mood so its good time to sell Euros you can easily sell it at 1.15 and Dollar is at its one of the lowest position so buying dollar at this time will be good.You can easily buy at 1.59.

texmex

I am going to Spain in the next few weeks, and have been using the TravelMax to seek out Euro exchange rates, and in the past week have seen a difference in the quotes given on TravelMax for Thomas Cook exchange rates, and on using the link to go through to order them for collection (I'm looking for 500 Euros), there's a £4+ difference in the rates between Thomas Cook website and Travelmax rates, meaning it's going to cost me at least £4 more for the 500 Euros I'm looking for.
I am aware the comparison site cannot be accurate, but this seems to be a lot of difference at the moment, can this be looked into.

Thanks

Kingsgraphic

I buy as little currency as I need, only small notes for the obvious casual use. Checking my future trip to Iceland today, I find that even allowing for the 2.99% fee I am 5.7% better off using the credit card in Iceland against buying money from the 'commission free' Post Office! (196.6 Isk/£ against 186.0 Isk/£) I suggest you check what rates you get on your card for your destination before laying-out much cash on currency.

Bojangles_3

£ has gone down so much coz of Euro news in last few days. Is it likely to recover today/over next few days - that is the question.

(Just worked out that £500 buys me £25 less $ than it would have done if I'd bought them at the start of the week)

I'm off to US next Thursday. What to do?

I may just get cash out there when I need it with my new Clarity card (as recommended by MSE)

Bo

liamod

This is true with regards to the pound dropping due to uncertainty in Europe.

Currently people are seeing the USD as a 'safe haven' and will continuously carry on to strengthen against the pound should the uncertainty remain within Europe (which it is very likely to due to the situation with Greece at the moment). At the moment the inter-bank level is at 1.5850. If you were to complete an exchange today you should look to achieve a rate no lower than 1.57