Purchasing US Dollars - Advice Still the Same?

I have a long holiday in the States very soon (2 months). In the past when I have been there, the advice has always been to purchase any dollars whist in the UK, but given the historically low British pound at the moment, I'm wondering if that advice still holds up?

Assuming that the pound rose at least 5 cents against the dollar whilst I was in the US (which of course there is no guarantee that it would), would it work out better to purchase more currency whilst I was in the States?

Thanks guys!

Comments

  • photome
    photome Posts: 16,351
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    Advice has not been to purchase dollars in the UK for many many years


    have a read of the travelmoney advice sticky


    https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/



    get yourself some of the best cards


    halifax clarity credit card


    Starling bank account debit card (app based)


    revolut



    to name a few
  • eDicky
    eDicky Posts: 6,547
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    Leave speculation on exchange rate movements to the forex traders. Avoid the cost and hassle of buying, carrying and using cash dollars. Obtain the best rates without fees on the day by using suitable plastic, as above.
    Evolution, not revolution
  • Thanks, but I will not be able to get a credit card at the moment and I doubt I will be able to get any other kind of plastic, so my question is if I am going to get dollars is it still best to get them in the UK?


    And IF the pound rose by 5 cents while I was there, would that mean that it would be cheaper to buy some while I am there (I can afford to take this gamble)?


    Thanks again
  • Voyager2002
    Voyager2002 Posts: 15,245
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    WonderGame wrote: »
    Thanks, but I will not be able to get a credit card at the moment and I doubt I will be able to get any other kind of plastic, so my question is if I am going to get dollars is it still best to get them in the UK?


    And IF the pound rose by 5 cents while I was there, would that mean that it would be cheaper to buy some while I am there (I can afford to take this gamble)?


    Thanks again


    Surely ANYONE can get a prepaid card!


    We have no idea how much the dollar will go up or down. Nor do we know how much of a margin the money-changers in the USA will charge compared with those here.And of course you might be somewhere remote, where it is simply not possible to exchange pounds sterling at an rate at all!
  • eDicky
    eDicky Posts: 6,547
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    Sorry but your questions have not much point, too many variables, and losing 2-4% exchanging cash is just not sensible.

    If you use a smartphone and can verify your address, anywhere in Europe, you can open a prepaid Revolut account with card, no credit check. With that you can indulge your inclination to exchange to dollars at any time you think the rate is good, at the prefect interbank rate (weekdays), updated every half second. Or just let the card convert when you use it.

    https://revolut.com/
    Evolution, not revolution
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