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Return Amex Travellers Cheques - US Dollars
Markie11
Posts: 131 Forumite
Apologies if in the wrong section.
I have about US $300 worth of travellers cheques left over bought for a holiday to Jamaica in August '09.
Since then I have thought about cashing them in for Sterling but thought I would wait to see if the dollar/GBP rate changes in my favour.
Correct me if I'm wrong. When I bought them in Aug '09, the exchange rate was $1.66 to the pound, now you get you $1.5. Therefore in August their value would be £180 and now they would be £200. Is this right? If so, is it the right time to sell now or will it the pound de-value against the dollar even further.
Also, where is the best place to cash in without being charged over the top for commision. Unfortunately I bought them @ the post office and they do not only accept back commission free unless accompanied with the receipt, which I haven't got anymore.
Any advice would be welcome.
I have about US $300 worth of travellers cheques left over bought for a holiday to Jamaica in August '09.
Since then I have thought about cashing them in for Sterling but thought I would wait to see if the dollar/GBP rate changes in my favour.
Correct me if I'm wrong. When I bought them in Aug '09, the exchange rate was $1.66 to the pound, now you get you $1.5. Therefore in August their value would be £180 and now they would be £200. Is this right? If so, is it the right time to sell now or will it the pound de-value against the dollar even further.
Also, where is the best place to cash in without being charged over the top for commision. Unfortunately I bought them @ the post office and they do not only accept back commission free unless accompanied with the receipt, which I haven't got anymore.
Any advice would be welcome.
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