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Convert money before or after interest rate rise
swerdnji
Posts: 2 Newbie
I am wanting to convert UK £'s to US $'s for a trip on the 15th Nov.
Am I best to wait until after the decision on the interest rate this coming week or get the money now?
I know you are not mind readers but does anyone know historically if the interest rate rises do we get a better exchange rate?
Am I best to wait until after the decision on the interest rate this coming week or get the money now?
I know you are not mind readers but does anyone know historically if the interest rate rises do we get a better exchange rate?
0
Comments
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How many US$ do you want to buy?Posts are not advice and must not be relied upon.0
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About $750. I will also have my credit card but in the little town of Redneckville (not the real name!!) where I am staying cash is king!0
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For $750 I wouldn't worry about it.Posts are not advice and must not be relied upon.0
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About $750. I will also have my credit card but in the little town of Redneckville (not the real name!!) where I am staying cash is king!
If you have a fee-free card like Halifax Clarity, try and find out if there are any ATMs in town that don't charge a fee - then you can just withdraw cash when you get there. However, most ATMs in the US do charge a fee.
As for the interest rate rise, the markets are expecting it. So Sterling might rise a bit if it's confirmed, but it won't be a massive shift. On the other hand, if they decide not raise interest rates it will be a surprise for the markets so Sterling will probably drop by a larger amount.Let's settle this like gentlemen: armed with heavy sticks
On a rotating plate, with spikes like Flash Gordon
And you're Peter Duncan; I gave you fair warning0
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