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

Zazen999

dblue75 wrote: »

I wasn't rude....he was. I was only looking for some expert advice. After all, is that not what this site is all about ???

No wonder a lot of people give up on here, when they receive unfunny and slagging comments which i have witnessed on many a post that people have asked questions.

I thought he gave you some good advice and just ended it with a gag.....

DelBoyPhil

if you visit thedibb.co.uk you get a free fairfx card you just have to stick a £10 on it!

M4RKM

dblue75 wrote: »

I wasn't rude....he was. I was only looking for some expert advice. After all, is that not what this site is all about ???

No wonder a lot of people give up on here, when they receive unfunny and slagging comments which i have witnessed on many a post that people have asked questions.

I wasn't rude, I gave you some options of how to maximise your foreign currency... yes, i was sarcastic, but NO ONE knows what is going to happen to the currency.

Something could get announced in the USA tomorrow, that is totally unthought of and the rate could theoretically rocket. Or the reverse could happen, and the rate could plummet.

I apologise for my sense of humour and having a bit of a banter on these forums, maybe everyone should all become robots and answer the question you're asking, with the answer you want to hear.. oh, but we can't.

as for expert advice, you're on a moneysaving forum. We're not "experts", we come here to help when we can. If we were experts, we would have our own website, charge for advice etc.

nuffsaid.

M

Shame it's not the best time right now to buy that beer... oh i have some in the fridge..

dblue75

in fact not even going to waste my time with people like you. i'd rather communicate with people who are genuine

Also correct me if i am wrong ??? but i am pretty sure there is experts in all fields on this helpful website....and also people who take great pride in picking on the slightest of things and deliberately out to wind people up.....must all have no life and i'd imagine no friends at work either.

M4RKM

i'm sure even experts in their field wouldn't even be able to tell you if you should buy your $$ now or later... that's the whole point of a little bit of a joke and some sarcasm.

i wasn't winding anyone up, it is called a joke, but obviously someone with a lack of a sense of humour as yourself, might have trouble understanding.

And thanks for the personal stab at me... makes me feel warm and fuzzy inside that I've actually got to you that much, just you can't take a bleeding joke!

M

stephb34

Unfortunately knowing when to buy currency at the best rate is like knowing the lottery numbers.
For example i have a friend who is going to canada so wants canadian $ she was tracking them at 1.64 to 1.72 and about 2 weeks ago it went up to 1.80 and she thought it might keep rising so instead of buying some and hedging her bets she waited and now they're only 1.70 and she cant wait any longer and as she wants quite alot she's lost out. Hindsight is a wonderful thing.
My advice is if you think its a good rate get some, but do check your insurance you wont be covered for all that cash, what about 1 of the prepaid US$ cards thomas cook do 1 as do many other travel places TC ones are free to load and free to use to pay for things in shops,bars, hotels etc, it costs you 2$ to use in the hole in the wall to draw cash out and they're covered under their own insurance like travellers cheques are.

inspector_monkfish

other and please state

Here is some info that may or may not help to explain Sterling's current slide......

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08:16 22Jul09 EUR/GBP: Market Bid As GBP under Pressure, Bank of England's Bean Talks

EUR/GBP continues gains from recovery from the potential .8592 (Monday"s
low), with the overall focus on .8699 (July 13 spike high). Note that overall
range today has been .8646-.8690 (<TGM2371>), while the lowest seen in Europe has been .8656. Be aware that there is a 100mn EUR/GBP .8700 option strike set to expire on July 29 (next week Wednesday <TGM2370>), so as this date approaches the chances increase of prices being drawn here. Despite this, should the EUR unit continue to outpace GBP, then we should see an extension towards the 200- day moving average (.8795).

In terms of data, July CBI trends data (Reuters survey shows a market
expectation of -45.00). Note that BoE Bean has stated that the economy must be rectified fiscally, once the recovery is underway which at present shows no signs of occurring. In terms of inflation his expectations are for further falls in inflation, this has put GBP under pressure.

ageandjo

Where is the best place to get some US dollars the the moment?
Thanks

LULULU1

Can anybody recommend the best way to change cash into Euros in the UK. Looking to change about £500.

Thanks

Incapuppy

other and please state

http://travelmoney.moneysavingexpert.com/

http://forums.moneysavingexpert.com/showthread.html?t=1629547