Currency rate

[rachellay]

Hi everyone, I havent posted for a while so forgive me!!

I'm just wondering what to do about changing my currency, we are having to take cash and travellers cheques this year because our credit card is up to its limit(oops), so are we better changing each bit as we save it to take advantage of the high exchange rate or should we just do it all as alump sum nearer the holiday.

I dont need to pay commission as I work for a travel company so that isnt an issue!!

What do you experts think?

 

[pegasusEH]

I'm certainly no expert! But we changed ours up at the beginning of the year to take advantage of the good rates. They seem to have dropped a little over the last couple of weeks.

It's a bit of a guessing game.

 

[SidB]

If I was you I'd use the money to reduce the credit card debt. That way you'll save all of that interest, which will probably be greater than any variation in the exchange rate. And if you are paying interest get one of these 0% for 6 month cards.

 

[signtalker]

Personally I would an eye on the exchange rate, I changed half of our spends when the rate was, 1.58(wishing I had changed it all now LOL), im keeping a close eye daily with a view to changing it as the rate climbs.
If you get TC from the post office you dont pay any commision on them!.

Jules

 

[vernon]

The biggest influence on the exchange rate at the moment is the war in Iraq. A quick and conclusive outcome and your pound is likely to get you less dollars, a long drawn out and difficult campaign will result in you getting more $$s for your ££ . I wouldn't buy currency now if I wasn't going until late Autum/Winter but for the summer I don't think the next month or so is too premature if you like the exchange rate.