Buying US dollars now for 2015

Cardew

photome wrote: »

I have seen it at $2 to the pound only once (about 07) in last 16 years but have seen it as low as 1.3 (in 08), agree that 1.6 is fairly average.

It hasnt been above 1.75 since 2008

In 2007 the lowest rate was £1= 1.917766 and the highest was 2.106427.


I have seen it down to 1.043817 in Feb 1985, in the tourist exchanges it was below parity!


Daily rates for the past 60 years are here:


http://fxtop.com/en/historical-exchange-rates.php?A=1&C1=GBP&C2=USD&DD1=01&MM1=01&YYYY1=1954&B=1&P=&I=1&DD2=17&MM2=10&YYYY2=2014&btnOK=Go%21

travellerboy

Maybe the exchange rate is linked to 'El Nino'

richardw

Would they be insured under your home contents policy, what would the excess be, does the policy say they should be locked in a safe etc?

vivatifosi

I managed to get some dollars earlier this year at just over $1.70. That was the end of April and I've not managed to get that rate again since. With eurozone uncertainty and an election coming up next year, I can't imagine that it will go that high again in the short term. Though nobody in their right mind should listen to me in terms of investment advice.

Rather than worrying about what rates will be in the future, the best thing to do is to make sure that you get the best rate on the day. The internet purchase rate on the internet is still better than the rate at Heathrow airport's walk up kiosk was when I got my $1.70 (from memory they wanted to sell at about $1.45...:rotfl:).

Backbiter

I remember the rate falling a couple of cents just before the Scottish referendum, due (apparently) to an opinion poll showing the Yes vote in the lead. A few days later the Scots voted no, but the currency markets don't appear to have noticed.