Currency exchange buy back idea?

Tm93

Hey... was wondering if anyone had tried this? Or if it’s a really stupid idea!

So we can buy dollars in the U.K. for 1.24ish to the pound... but I can sell dollars back to the post office for 1.45, obviously if I could take my money out at 1.45 my holiday would be a lot more affordable, has anyone tried using buy back at an American foreign exchange to get that better rate when the arrive, is it as simple as I’m assuming??

Thanks!

T

Tm93

Wait, this is stupid I get it now! ��

baza52

so £1 buys you $1,24 but to get £1 in return you have to use $1.45 so you lose 21 cents changing it back up. (about 20p give or take)

Voyager2002

baza52 wrote: »

so £1 buys you $1,24 but to get £1 in return you have to use $1.45 so you lose 21 cents changing it back up. (about 20p give or take)

Ah, but the OP was hoping to use a US currency broker and sell, not at their standard rate but at their guaranteed buy-back rate. What could possibly go wrong?