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

jscalow

Wow, its down to $1.75 this morning, glad I ordered last night @ $1.80.

DGMcreative

if you can a wait these are slightly better rates with Crown currency

31-40 Days 31/10/2008 09/11/2008 180.00
41-50 Days 10/11/2008 19/11/2008 181.00
51+ Days 20/11/2008 29/12/2008 182.00

Blink_Eden

We are off to Florida next April, and we also have a Nationwide Flex account, so don't need cash as the card is the recommended way to spend.

We are planning on spending around £1000 in $, and already have the money.

Do people think we should save the cash (+ 6 months interest) and spend on the card when we get over there, or exchange to dollars now in case the rate falls even further?

(I know this is basically gambling on the money markets, but I am not clear if any savings with the Nationwide card would be offset by losses on the money markets)

Cheers

FEvans

i am in the same boat as you.

i am off in april and have a nationwide flex account.

i have £1300 saved for spending money at present with the rest following by april.

what i have now done is set up a high interest savings account (i used the one recommended by martin on this site kaupthing edge (gives around 6.3%).

i will then transfer the total sum including all interest back into my nationwide card at the end of march ready for my trip.

hopefully the interest earned will be high enough to make up for any differences if the pound drops against the dollar.

as long as the pound does not drop below 1.70 then the interest earned should make up the shortfall.

my gut feeling is that sterling will not drop any lower thab 1.75 after all the usa is in crap street as well

Baz_2

FEvans wrote: »

my gut feeling is that sterling will not drop any lower thab 1.75 after all the usa is in crap street as well

I'ts shifting on every piece of bad news. If another bank or two here needs bailing then it will go to $1.70. If more problems happen over there then it will go back up to $1.85.

But its up and down like a yoyo due to all the news this last week or so on both sides of the pond. The US is in a much worse state than we are currently, the question is are we going to go into the same sort of problems that they are. If we are behind them a year or two and we do have the same problems then the rates will come down again.

Once everything levels out and both economies are stable it will certainly level out at around $1.70. It has only ever been so high due to the US economy being pants this last year or so, it dropped recently for us due to the Halifax etc.

Obviously just my take on things.

Froggitt

FEvans wrote: »

i am in the same boat as you.

i am off in april and have a nationwide flex account.

i have £1300 saved for spending money at present with the rest following by april.

what i have now done is set up a high interest savings account (i used the one recommended by martin on this site kaupthing edge (gives around 6.3%).

i will then transfer the total sum including all interest back into my nationwide card at the end of march ready for my trip.

hopefully the interest earned will be high enough to make up for any differences if the pound drops against the dollar.

as long as the pound does not drop below 1.70 then the interest earned should make up the shortfall.

my gut feeling is that sterling will not drop any lower thab 1.75 after all the usa is in crap street as well

Why not buy now, at todays rates plus maybe 5% or so, for delivery in April, thru Crown Currency Exchange. That way, youre not risking the pound going down the pan, AND your getting "interest" of sorts on your cash. Or maybe do it with half your money, and take the chance with the rest???

FEvans

in these volatile times i would not trust my money with any company that had no financial protection. especially a company that makes its money by speculating on the selling and buying of currency. whats to say that crown curency will still be here in 2 weeks time.

anyway the bailout has gone through and now its time to say goodbye to the dollar. this will have a massive impact on the dollar. its going to be the end of the dollar being the dominant currency in the world (according to a number of well established financial experts).

thats not to say sterling will fare any better but i think that the dollar will start to tumble now against sterling-i hope so anyway

foolsgold99

Hello, that's me booked for Florida in at the end of June 2009. I was just wondering whether I should buy my currency just now or buy it nearer the time?

Thanks

jetskidia

foolsgold99 wrote: »

Hello, that's me booked for Florida in at the end of June 2009. I was just wondering whether I should buy my currency just now or buy it nearer the time?

Thanks

Buy it on the 3rd March at 15:07, thats when it will be at its highest;)

vernall

i ordered my US cash and travellers cheques online months ago from Travel Money Services and had them delivered on saturday,my question is-if i do not spend all my travellers cheques and cash(notes) where can i get them changed back into £s?would it be any travel agents on the high street or post office or my own bank?would there be fees charged for this?

thanks