Any idea what the forcast is for the $/£ exhange rate?

[Ruth B]

Hi
i know its currently 1.9-something. Is the forcast that it will stay that way? or is it expected to drop.
Thinking about buying some $ now to cash in?!

 

[Andy B]

Unfortunately if we could predict this we would be making our money from money dealing. However how far in advanced are you talking, the forecast seems to be for more interest rate rises, this will encorage investment in the £ and maintain the exchange rate at current levels, although there was some speculation that it might reach £1-$2 this is a psycological level which many would not want to see reached.

 

[AlanUK]

As Andy has already said it's almost impossible to accurately predict what exchange rates are going to.

A rate of 1.90 is very good and personally if I had a trip planned this year and the money saved up I would probably change a percentage of it up now as a way of minimising the risk of the rate falling by the time my holiday was due

 

[wayneg]

Or keep your money well invested and use a Nationwide Credit card while in Florida. Todays rate is around 1.97.
TC or cash would only get you around 1.88
Only reason to buy now is if you think the rate is going to go down by more than around 7%.
If the rate goes up you are way out of pocket.

 

[Ruth B]

Thanks for the advice. Good point about the diff is buying cash and paying on nationwide card( that i have) . I've still got $1500 to pay of for this summer DCL so maybe i should pay that by card now. Its a game....... waiting to see if the rate drops or rises. Best wishes, Ruth

 

[paulh]

Or keep your money well invested and use a Nationwide Credit card while in Florida. Todays rate is around 1.97.
TC or cash would only get you around 1.88
Only reason to buy now is if you think the rate is going to go down by more than around 7%.
If the rate goes up you are way out of pocket.

The diff between nationide rate and tourist rate is 2.75%(the standard charge for all outher cc)Just paid our dues on nationwide and saved $27 .Add that to what we saved on our 2 trips last year aprox $200 on rate differance.
When we bought dvc rate was stabe around $1.60 to £ .This is what i use as a benchmark so any above is a bounus for us .
Paulh

 

[wayneg]

The diff between nationide rate and tourist rate is 2.75%(the standard charge for all outher cc)

Paul
Where you get 2.75%?
We used our Nationwide CC at Xmas and got around $1.96, the tourist rate was around $1.87 almost 5% Diff.
Used Lloyds TSB CC and got around $1.92 approx 2.75%
Most credits cards are 2.75% better than tourist rate but Nationwide you should be getting better.

 

[Netty]

I always check on here.

http://www.comparetravelmoney.co.uk/

 

[rpbert1]

going to buy the last of my dollars on at local bank on Monday, rate is $1.956 and TC are $1.96.5

 

[Andy B]

going to buy the last of my dollars on at local bank on Monday, rate is $1.956 and TC are $1.96.5

Which bank is going to give that rate, the money market rate is 1.973 the exchange rate seems too high.

 

[paulh]

Paul
Where you get 2.75%?
We used our Nationwide CC at Xmas and got around $1.96, the tourist rate was around $1.87 almost 5% Diff.
Used Lloyds TSB CC and got around $1.92 approx 2.75%
Most credits cards are 2.75% better than tourist rate but Nationwide you should be getting better.

If you read the tearms and conditions of most CC they charge 2.75%.If you shop around for TC the best deals you can get is usaly about the same but mostly 2.75% to 3.25% less ie today M&S $1.908, bank rate$1.973 aprox 3.21% less
Paulh

 

[highlander447]

H Saga are offering $1.91 at moment free delivery, Thomas exchange $1.935 with £5 delivery charge, Crown are offering interbank rates of $1.97 but with charges really it takes the rate down to $1.93