MSE News: Plunging pound hits holidaymakers... how to make your cash go further

Former_MSE_Jamie

"The pound is at a 16-month low against the resurgent euro, as well as being at a 31-month low against the US dollar ..."

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Plunging pound hits holidaymakers... how to make your cash go further



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flang

Kicking myself as we are off to NYC Wednesday and was waiting for the rate go to up!
Thankfully I managed to get in before this mornings bad new and got 1.49 instead of the current rate of 1.479. Still bad though :(

piglet74

My holiday to Salou (priced in euros, flying from Dublin) is getting dearer by the day! Please let the pound rise!!!!

piglet74

flang wrote: »

Kicking myself as we are off to NYC Wednesday and was waiting for the rate go to up!
Thankfully I managed to get in before this mornings bad new and got 1.49 instead of the current rate of 1.479. Still bad though :(

Ahh.. I was in Dallas in 2008 and 50p got me a dollar :-(

neesk1

We've booked our holiday for this summer in europe direct through the airline and hotel...flights were in £ but hotel was in EUR.

When booked in Oct/Nov, the hotel was equivalent of £979, now its already £1043.

We emailed the hotel to ask if we could pay upfront, and they charged my halifax clarity card today...at least it can't get any worse now.:j

zerog

neesk1 wrote: »

We emailed the hotel to ask if we could pay upfront, and they charged my halifax clarity card today...at least it can't get any worse now.:j

... that was probably the worst thing you could do, well I don't have a crystal ball, but I think you may possibly have locked yourself into the worst possible exchange rate.

I'm betting on the pound staying at this level for a while and then moving back to EUR 1.25 by around summer.

It's been great for me as I've been keeping a thousand or so euros in cash and I think it's time to convert them to pounds. And if I'm wrong and want to go to the eurozone, I'll just convert more euros from my US or Aussie dollar accounts.

tripled

I usually book hotel rooms through hotels.com, getting not just a free night for every 10 bookings but also ~10% cashback through Top Cashback or Quidco. I also get cashback on airport parking.

nafan

Do you think the pounds going to rise soon?, im going to the USA at the end of march, wondering if i should buy now before it drops more or wait for it to rise?
advice appreciated!!

luci

I used the Clarity and Aqua cards on Sunday in resort and the transactions have just hit the accounts. €1.1597 and €1.1599 when the rate in resort was €1.11

Caddyman

piglet74 wrote: »

Ahh.. I was in Dallas in 2008 and 50p got me a dollar :-(

That's interesting? I was in Norfolk, Virginia on the Eastern Seaboard of the US in August 2008 and I did get $2 to £1 (two US dollars for one pound). I just checked the historical currency data for that time and we Brits were on a bit of an exchange rate bonanza back then.

luci

I got $2.11 in May 2008.