Any know how exchange rates will go

[shellbell]

The exchange rate is a little lower than it has been today its $1.739 is it likely to go as we get closer to the summer or go down. Didn't know how they would go with more poeple visiting the states in the summer months. With more people changing from sterling to dollars will this make the dollar higher or lower. I really don't have a clue about this stuff



We are waiting to change £1000 do you think now would be the best time to do it or wait, we don't go till September but want to get a good rate

Michelle

 

[vernon]

If you shop around a little you should get a better rate than that, but as far as "holding on" is concerned, if it's going to cost you (interest or over draught charges) anything to use the money now, I'd probably hold off for a while. If you have the cash available, then I can see a reasobable argument for taking advantage of a rate that is just a little off a 15 year high. I can't see the rate moving much over the next couple of months, why not hedge your bets and get half now and half nearer the time? As long as you find a place that doesn't charge a fixed commission for changing money you're not increasing your costs to do so.

 

[shellbell]

Thanks for the advice