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Forward purchasing currency
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They get to keep your money for 6 months so you lose the interest on it for that time. You can probably get 1.95 if you shop around (esp at thomas exchange in london) now, so the difference only just about makes up for the loss of interest. Unless you really really know your stuff, then your prediction about the future exchange rates is pretty much just a guess (because all known information should be already priced into the market).0
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have a look at citibank
http://www.citibank.co.uk/personal/banking/international/travelabroad.htm
You can buy at 1.5% below the official rate - I challenge you to find better for an instantly available rate. You can have a debit card/ATM card with no fees and also a US dollar chequebook. Also you can gain 2.5% in iterest on those dollars if you open a deposit account. Condition is that you need £2k equivalent to avoind charges -but this might be Ok for you if you close the account when you return?0
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