An Exchange Rate Question...

[Sophie2501]

I'm flying from Ireland, today 4 weeks and in the last few days the price of the dollar has risen rapidly. Should I buy my dollars now or hope that by the time I go they may have picked up again? I'm hoping someone with more of an experienced opinion will be able give me some insight!

 

[Dollyrar]

Try www.mysticmeg.co.uk In all honesty, with the developments in Greece right now, I would be tempted to just get my money now, as I can see the pound & Euro getting trounced over the next few weeks

 

[gemmybear83]

No one really know what is going to happen - the thought of a hung parliment scared me so we have paid off our cruise early, I didnt want to be worrying about the rate. Were not going until December so hopefully it will settle down by the end of the year!

 

[igk]

I think this is a question about euro/dollar rather than sterling as the OP is from Ireland? Forgive me if not
The pound already dropped against the dollar many months ago and in the UK we have had to come to terms with the fact that the USA isn't as cheap as it was anymore.
Now the euro is under pressure as the Greek situation worsens.
Unless the situation calms down and a little confidence returns to the financial markets the euro will remain vulnerable. It's a difficult call.
I think at 1.25 the USD is still relatively cheap, but it is frustrating given it was 1.35 not long ago. It's always virtually impossible to predict foreign exchange rates, but the current situation is so volatile anything could happen.
My advice usually is what would be worse: to leave it and watch it go below 1.20, or to buy the USD now and then watch it go back to 1.35? Another option is to buy some now then wait to see what happens.

 

[luke]

My advice usually is what would be worse: to leave it and watch it go below 1.20, or to buy the USD now and then watch it go back to 1.35? Another option is to buy some now then wait to see what happens.

Jeez, don't do that to me!! Thought the dollar had dropped drastically since I last checked, but it's still at $1.45 ish.

Not as good as it's been, but still not too bad.

I think personally I'll get some currency when it hits $1.40 then wait and see for the rest

 

[Sophie2501]

Its euros so no need to panic yet..! I'm gonna buy some and hold out for rest. At least I got all my park tickets and tours etc when the euro was quiet strong against the dollar a few months back. Have some dollars stashed away too. Was counting on a better rate for shopping tho

 

[2Tiggies]

Because I booked this trip over a year ago, I worked on a "safe guess budget" of $1.40/£1, accepting that anything can happen. I still have $$ from last time and have bought in bits and pieces whenever the rate has been around the 1.50 mark. I will get some more this week but I won't panic too much as it is now at the stage where (1) Anything I get at a lesser rate is balanced out by the better one and (2) I don't have that much to buy that it will make a significant difference. That is why I don't rush to pay off the balance of my holiday - I would rather have access to the cash so I don't have credit card interest if I need to make a quick decision to buy.

 

[crabbie1]

It is worrying .I remeber getting 1.35 to the £ when I went dec2008.Just said on another thread ordered ours 2 weeks ago with crown currany for 1.58 as going september so at least got 1900 dollars. Still got £1500 to change so will see. As long as I get aroung 1.45 will be happy but will keep an eye like everyone else and lke others will keep everyone posted.

 

[disneyholic family]

Its euros so no need to panic yet..! I'm gonna buy some and hold out for rest. At least I got all my park tickets and tours etc when the euro was quiet strong against the dollar a few months back. Have some dollars stashed away too. Was counting on a better rate for shopping tho

the euro is crashing and no real end is in sight...

even if greece is solved, there is portugal, then spain and everyone else waiting in the wings to crash...

i'm not exactly gleeful....i have euros that i didn't get rid of....shame..

hopefully, what goes down will eventually go back up...but who knows..

the game is now whose economy is in the worst shape.....

 

[igk]

Jeez, don't do that to me!! Thought the dollar had dropped drastically since I last checked, but it's still at $1.45 ish.

Not as good as it's been, but still not too bad.

I think personally I'll get some currency when it hits $1.40 then wait and see for the rest

Sorry yes I was talking about euros!

It's troubling to see the pound fall against even the euro today, but not surprising given the political uncertainty.

 

[fuse04]

No one really knows which way the rates are going to go, and of course if they did they would be very wealthy! I would suggest, as one or two other have, is to buy at a rate you are comfotable with, and that may vary from one person to another.

There are a few commission free credit cards such as the Post office which will give you the onerbank kending rate and that will eek out a little more than high street.