US ($) Currency Thread 1 (closed - use thread 2)

andor

After a heart attack I've been trying to sell $960 privately for months now. At the PO, I can now get £4 more than I paid for them! If I dont sell them today at $1.80 it will be the PO tomorrow.

sarmia

I am also glad I bought ours a couple of months ago

We go for a California 'tour' in April and will be taking $6400

If we bought the dollars today it would of cost an extra £400 compared to what it did cost us 2 months ago - I cant believe how quick it has dropped.

wilto

Froggitt wrote: »

You did well wilto - its sunk down to 1.776 for February since Exchange rates last updated: 02/09/2008 10:34:55

Glad Ive still got a stash of leftover dollars/Vegas winnings in cash.

Yes I'm very pleased!

If the rate levels off at 1.6 I will recieve circa $400 more dollars than if I had waited until the new year. Of course all this could change!

wilto

I would hold onto them and as soon as the pounds shows any sign of recovery...sell.

osones

I'm off to NYC on the 18th. Very scary - Thomas Exchange Global is offering the $ at 1.75 today. Does anyone know if this is the best rate? Or should I use my Maestro card when I get there?

FEvans

people seem to forget that the US is in just a worse a state of affairs as the UK. A lot of money that goes into the US coffers has come from exports. However as the dollar becomes more favorable exports will drop causing the economy to drop.

Whilst the dollar is strong now against sterling its not going to continue to rise for ever. From i have read most anyalists suggest that it will level out at about 1.70 to 1.73. of course they could be wrong. if you are going there in the next month then it seems wise to change now. if you are going next year then you may as well wait and see.

mimidl

Does anyone have a clue what the rescue of Fanny and Freddy will do to the rate of the dollar?
Will it drop again, because of the housing market being so bad, or will the bailout actually temporarily boost the economy?
It's so confusing!

FEvans

It should help both the US economy but will also help ours as well as a large number of our UK banks and financial institutions are tied to them.

I see the rate remaining pretty much as it is for the time being.

the big drops have now occurred ie its been around the 1.76 mark for about 5 days now

gordylad

The pound lost 3c against the dollar today because of the cash injection by the US govt to fanny.

Baz_2

gordylad wrote: »

The pound lost 3c against the dollar today because of the cash injection by the US govt to fanny.

No it didn't.

It started out at 1.765 and ended at 1.759.

On news of the bail out it rose 3c which for the rest of the day it then lost again.