Dollars - Buy now or wait?

slowen

I am going to Las Vegas for 2 weeks In August and I have a bit of a dilema as to whether to buy some dollars now as the best rate I have seen is $1.933 to the £ or do I wait and see if the dollar breaks the $2 mark more nearer to the time

Planning to purchase £500's worth at the moment as hopefully my total money I want to be taking is £2,000 if I can raise the funds in time

peterg1965

Who knows, wait and see if interest rates go up next week, if they do then the £ might break the $2 mark. I am off the US in Jul/Aug and have booked my hotels direct and do not pay until i get there. Here's hoping for the exchange rate staying favourable!

duckcity

If you buy from https://www.crowncurrencyexchange.com and purchase £500 for August, they offer a rate of $1.98

peterg1965

Is that a 'Kocher' company? It doesnt say if it is registered with the FSA. It really amount to gambling on future exchange rates. I was going to pay my hotel bills with my credit card and I know that taking cash withdrawals would cost me dear. I might just sit back and see what happens! If they are offering £1=$2 for October they must have a crystal ball!

sanfrancisco

I would buy now (only an amateur). 1.93 is great by anyone's standard and you will never get the timing exactly right.

slowen

The rate I have seen was with HSBC if anyone is wondering, noticed marks & spencer's rate is $1.89

talksalot81

The rate is actually on the way down... about 10 days ago we were at 1.99. Predicting what will happen is almost impossible but it is worth keeping in mind that we currently have one of the worlds strongest currencies. Your best analysis is probably based on asking yourself why exactly we are in that position.

1andrea

I bought yesterday at 1.93 i was going to buy with m&s at 1.89 but didnt hoping it would go up to 1.90 then I saw this so ordered last nightwith hsbc, still waiting for my confirmation email though.

trets77

i have swooped for over £1K ( was going to be £2K) at $1.95 at Travelex last week.( using their price matching offer). what ever happens i have not missed the boat for this long time high rate.

i am already starting to think i made a very shrewd swoop

your attention is drawn to post #16 in below thread for securing the best rate

http://forums.moneysavingexpert.com/showthread.html?t=298174

Pudders

We're in the same boat!! We're going to Florida next year in May and are a click away from buying online with Travelex!! They offer a better rate of exchange online than their branches and have it waiting when you arrive!!

Do we buy now or later?

Pudders

trets77

If you do buy with Travelex be very sure call TEG after and get a quote . then e-mail travelex to get them to send you a check for the difference.

see my previous post insert link for full details

i have used this little trick 3 times and have always got probably the best possible rate when buying.

you can of course nominate a day in advance ( not sure how far) to pick up the money purchased at the todays rate. Zero problems when picking up my cash with travelex . need card you purchased with and photo ID plus ref number of transaction

$ may weaken futher on thursday but may also strenghten. if you can get $1.94 i say take it and you won,t be much dissapointed but you have to take into account next may is a long way off and that money could be earning intrest. i,m off in Sept so not to long a wait