What to do with 100US$

cycleforlifefatty

I have approx 100,000US$ in a UK US$ account, the account pays me 0% interest and I figure their must be an alternative. My concern is that if I move the money to a GBP account I will lose too much on the exchange. I need the money to work for me but may need access to it so cannot afford to tie it in for any extended period of time.
Any advise will be appreciated.

saintalan

There was an old adage among expat workers that you should save your money in the currency you are going to need it in.

If you are eventually going to need it in $ then keep it there. If you will need it in £ then you could sort of £$ cost average by exchanging in parts over a period of time, depending on when you think you will need it.

In general the £ drifts over a long period between $1.50 to $2, but as they say it's all speculation. At the moment based on that its a goodish time, if it goes on like that you could exchange some now and if it gets lower exchange some more. It really is no good guessing where it is going to be when you need it!

Also you can buy/sell forward.

Alan