Dollars - crystal ball anyone?

[Merylj]

Just back from a truly great trip and we are planning to return Nov/Dec. I`m thinking of buying some travellers cheques, do you think the rate may go down or do you think its stable for a while yet?
A tough question I know - thanks

Merylj.

 

[AndRu]

During the latter weeks of December the (tourist) rate was fairly stable around $1.85 to the pound. Since the New Year the rate has been dropping and we're now around $1.78. No one has a crystal ball but looking back at the trends over the past 12 months, it seems to have a steady increase, peak and then drop back down again. Click here for details.

There are no guarantees about what will happen, it might go back up tomorrow and hit $1.82 by the end of the days trading. On the other hand, it might stick or drop. Who knows?!

It's a very tough decision but I look at it this way. We last went to the USA in 2003 and the tourist rate was a pathetic $1.50 to the pound. As we've been buying in the last 6 weeks we've been getting $1.82+ to a pound; it's a nice feeling getting 32 cents+ extra for each pound we've spent. You could wait and see if it goes back up again but you'll run the gamble of watching it slide back down towards $1.70/60/50 etc.

I think the saying "You pay your money, you take your choice" comes into play here. If anyone can provide detailed information, they'd probably be very, very rich!

 

[Flo_and_co]

A financial "hobbyist" at my work told me that he expects to see the rate coming down now that the elections are out of the way, and the spring time approaches which is apparently good for confidence. (?!)

He's probably talking rubbish, but on his advice I bought all my holiday money a couple of weeks ago @ 1.86 - and I'm not even going till October!

Flo

 

[Cochise]

The dollar is getting stronger

 

[Cochise]

Going to buy mine at 1.80 today, the pound is struggling against both the dollar and the euro at the moment

 

[Slimey_snake]

I bought dollars yesterday and got $1.80 for £1. I thought this was a good rate. That was from Thomas Cook.

 

[daywalker]

Well as I understand it, the US inends on keeping the dollar weak for a long time yet. They want it weak to bring more visitors in, make more exports and make their citizens more likely to spend their dollars in the US as it becomes less attractive for them to import. Basically the weak dollar is aiding their economy at the moment.

 

[Cochise]

I bought dollars yesterday and got $1.80 for £1. I thought this was a good rate. That was from Thomas Cook.

Not get far just having $1.80 to spend !!

Same here $1.80 from Thomas Cook. I am happy with that, i may get more nearer the time if the rate gets better. That will be good for my card purchases over there anyway.

 

[mickg7dyd]

Hi,
We took very little cash on our Xmas and New Year trip and used our Nationwide credit card and got an average rate of $1.91 for the period we were there. Not sure what the future holds for the rate but if I did I would be rich enough not to care...

Mick.

 

[traceycooper]

Hi we went nov/Dec last year & we booked 18 months in advance so we kept an eye on the rates over that time & Oct/Nov was definately the best time to buy proberbly cos its out of season, we also used our credit card and got a great rate too. We got ours from Ilkeston co-op travel didnt find anywhere else that beat their rates.

 

[MazdaUK]

I got mine either side of Christmas and got $1.85 both times from LunnPOly - the PO was dearer (worse rate).

With interest rates low you're better off getting some dollars now - anything you put on the plastic will be at the rate at the time so this way you spread your risk.

We haven't been to US since our honeymoon in 1990 - last time the $ was nearly 2 to the £!

 

[DC1DC1]

Marks & Spencer’s rate is $1.829 today…..

 

[BeverlyJ]

Onlinefx rate $1.8360. That's if you switch. They have given me better rates in the past if I can do a money transfer (simple if you bank online). Excellent service too.

 

[MazdaUK]

Marks & Spencer’s rate is $1.829 today…..

If you keep the receipt can you exchange it for a larger size??


I'll get my coat....

 

[Cochise]

If you keep the receipt can you exchange it for a larger size??


I'll get my coat....

ROFL