US ($) Currency Thread 2

M4RKM

neilbond007 wrote: »

I'm sure 3 months ago you'd of ripped off someone's hand if they offered you 1.65.
Greedy bar-steward

oh exactly.. i went in March and was getting 1.40.... i was hoping for 1.60, and when i saw $1.65 at marks and sparks yesterday, i couldn't resist...

just got to ignore you lot now til september!!!

bestyman

I know nothing about £=$, in fact I don`t even know how or why the rate changes, but always wondered why?

Anyhow, I need 700US$ for Vietnam leaving UK October 6th, its impossible to get them there with my Nationwide.

How much is the rate likely to change in the next 2 months? Should I buy now?

neilbond007

bestyman wrote: »

I know nothing about £=$, in fact I don`t even know how or why the rate changes, but always wondered why?

Anyhow, I need 700US$ for Vietnam leaving UK October 6th, its impossible to get them there with my Nationwide.

How much is the rate likely to change in the next 2 months? Should I buy now?

Howdy.
If you read through these posts you'll know that no one here knows either. And if you read the "expert" websites you'll see that they don't know either.
The rate is as high today as it's been in about 9 months..

My (rather cr4ppy) advice...
Are you happy with 1.65(ish) that you'll get from the high street now? If so, buy.
If you a little bit of a gambler get 1/2 cash now and 1/2 just before you go. That way you cover any major rise / fall in the rate.
If you're a complete gambler wait. The rate may go up, it may go down... who knows...

Nick~C_3

So should I be getting my dollars from the uk?

I was thinking about using my Abbey visa card with the ATM's in New York, but not sure which is the best way to go about it?

Any advice please?

Thanks!

Nick

M4RKM

Why do abbey customers never know how expensive or cheap their cards are?!

Anyway... If you're going to use a CREDIT card, even if it is the abbey zero, then you'll get clobbered for interest straight away, as you're doing a cash advance.

if you're using a DEBIT card, then with abbey it's not looking good either, they charge a % for withdrawals etc etc.


So neither Card that has a visa logo on that abbey offer will be that useful. The credit card is awful cos of the high high interest that you incur from the second you withdraw.

Maybe the best thing is to get cash out of your account, (not cash advance on the credit card though), and get a prepaid credit card, or actual physical dollars as cash?!

johnpaul74

Good morning all!

Two things, to begin with I shall enter this fantasy football league and hopefully I will remain with the same user name.
Secondly, I was contacted on Tuesday by CCE who offered me $1.7154!!

Happy days! :beer:

Edit: Monkfish, i'm now pending.

DaMaNiAc82

I took out $US in a bank in Saigon with no problems whatsoever using my Nationwide card. Took all of 5 minutes. What makes you think it's impossible?

Why do you need $US for Vietnam? I paid for everything in Dong.

Cade_Foster

Looks like the BOE announcements brought it down a bit lets hope for a end of week spurt to get us back up.

neilbond007

News from TorFX. Nothing I guess we hadn't worked out for ourselves.

The Pound has fallen significantly against both the Dollar and the Euro this afternoon, after the Bank of England extended it's bond purchasing program by an unprecedented £50 billion. Policy makers have signaled that efforts to cut borrowing costs and revive lending conditions have yet to succeed and bolster the economy.

The UK currency also dropped against the higher-yielding currencies, as the nine-member Monetary Policy Committee, said that its expects the quantitative easing program to take another three months to complete and will be kept "under review." The MPC also left the benchmark interest rate on hold at a record low of 0.5%.

Geoffrey Yu, a currency strategist at UBS AG in London, said after the announcement that "the Pound is selling off on the Bank of England's expansion and the currency may "rally later as the market becomes reassured about growth prospects. The Pound slipped to a low of $1.6827 versus the Dollar and has also fallen aggressively against the Euro, as investors become sceptible on the fragile prospects of an economic revival.

The largely unexpected decision to extend the program has all but diminished the prospects of a near-term increase in UK interest rates and Sterling is under pressure in the near-term, after rallying 15% against the Dollar to the highest level in nine months. In this morning's report, we indicated that Euro and Dollar buyers could have benefited from a stop order to protect against this eventuality.

M4RKM

Oooh.. after that then I think i just hit my purchases right.. maybe a day or so out, but as I said, i budgeted $1.60 and got $1.65, so saved £26.. which i'll probably end up converting to dollars anyway nearer to the time, and i still think i'm taking TOO much money with me... sod it.. i'll spend it on beer