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

steveo3002

i guess no one can say for sure...who knows it might go up or down by then

Hargsi

Given the strength of sterling against the dollar, would I be better buying dollars here to take on my holiday to Sri Lanka and Dubai or would I lose out on the exchange rate of the dollar in Sri Lanka and Dubai?

lolarentt

I'd take dollars, as they are the second currency there and accepted everywhere, easily changed to Sri Lankan rupees at any Ceylon Bank branch (don't know why they still call the main bank Ceylon!). Don't change your dollars in hotels as this is very expensive! You can't take SL Rupees out of the country so airports etc are dealing only in dollars anyway. ER difference is swings and roundabouts as Rupee has moved against dollar in similar way to sterling.

Steve_xx

I think I would buy them about now. Interest rates in the UK might have come down before July. I think it is unlikely for them to rise further here. If rates here do come down then the UK pound would likely fall against the dollar.

However, if interest rates in the USA fall further and interest rates here stay the same, then the UK pound is likely to increase against the dollar.

mystic_trev

I've just topped up with another £500's worth from the Post Office. ROE now 2.0049 NO commission!

Steve_xx

Slightly better with Travelex @ 2.0071 today!

Hargsi

Thanks very much. It's always hard to know what's the best thing to do.

seftonsun

Better still today at 2.045 with Thomas Exchange Global. On £500 that's over $20 more!!! Thomas's usually give the best rate. If you buy through Travelex with their price promise (not through a BA link or similar) they will match the rate as long as you apply the same trading day with the details. Handy if you want to collect from Travelex at the Airport but still want the best rate.

Donnie

http://www.nationwideinternational.net/accounts/accounts_dollar_glance.htm

Is it worth the hassle?

alchemista

I really despise these type of questions. People - NOBODY KNOWS THE FUTURE. If anyone could tell you for sure whether to buy or sell now, they would be billionaires...

Everyone's post in here is pure speculation. You can try to make an educated guess, but that's about it, otherwise you're currency speculating.

Some things to keep in mind:
The longer you hold onto your money, the longer you can keep it in a high-yield savings account. So your money is growing in interest at least.

If you exchange sooner rather than later, you'll end up with cash that is not gaining interest.

Depending on your interest rate, etc, that may be a small factor to consider. However, it's at least a given whereas making a decision based on future currency values is just speculation.