dollars $$$

[lorapinky]

Hello,

I am useless at all this exchange rate stuff.

Does anyone know if its a good time to buy now or not?

We go in September 07

 

[wayneg]

Buying foreign currency is just a form of gambling, you might get it right but more chance of getting it wrong.
Personally think you are better investing your money, take $200-300 cash(for tips and tolls) and using a Nationwide credit card for everything else.
See this thread on the subject, there are others but no time to look this morning.
http://www.disboards.com/showthread.php?t=1330124
Wayne

 

[Goofysmate]

I think that the exchange rates at the moment are good.
The rates can go up & down every day and have been known to have big difference from one week to the next.
We have found that the best time to buy dollars weather it be cash or traverlers cheque is mid week because you can get a better rate then the weekend.
So the choice is your.

 

[diddldonna]

Today at the post office i got offered £1 = $1.89 approx which is excellent, we are buying tomarrow so hope it stays that way.

Donna

 

[nibbo]

Nationwide credit card is the best option. No transaction fees like all the other credit cards and you get an exchange rate that's higher than buying travellers cheques or exchanging cash.

Nick

 

[wayneg]

$1.89 is not great compared to the people out in Florida now using their Nationwide card and getting $1.97.
Will it go up? will it go down? Nobody knows.

 

[tashasmum]

Marks and Spencers at the moment is 1.91 if that's any help.

 

[kristieuk]

I am all for the Nationwide card, since you will get almost the market rate on the day you use it - great if you are there now, and getting up to 1.98 which is the highest the rate has been for a decade or so. The big disadvantage is that you can't tie in that rate for travel later in the year - the only way of doing that is to buy currency now.

2 years ago we were getting 1.91 to the £ in NY in February with the Nationwide card, but by November when we went to Florida, the exchange rate was around 1.75, and I wished we had bought out currency earlier.

It's impossible to predict what the rate will be in 9 months from now - but if you can tie it in at over 1.90 by getting currency now, I think you are getting a v good deal.

 

[tubtruck]

I am all for the Nationwide card, since you will get almost the market rate on the day you use it - great if you are there now, and getting up to 1.98 which is the highest the rate has been for a decade or so. The big disadvantage is that you can't tie in that rate for travel later in the year - the only way of doing that is to buy currency now.

2 years ago we were getting 1.91 to the £ in NY in February with the Nationwide card, but by November when we went to Florida, the exchange rate was around 1.75, and I wished we had bought out currency earlier.

It's impossible to predict what the rate will be in 9 months from now - but if you can tie it in at over 1.90 by getting currency now, I think you are getting a v good deal.

Its only a good deal if the rate doesnt go up or down, even then there is the case for the lost interest. If you read the financial papers etc, the majority of economists think that te rate will rise further. You also run the risk of the money been lost, stolen burnt etc if you change it, i assume that it will be kept at home until your trip, if you are getting a large amount of money are you insured for keeping it at home, the majority of contents policys only cover the first £500 or so of money kept in the house.

 

[UKDEB]

What you can say for certain is that rates are probably the best they've been for 15 years. Of course, that doesn't mean they won't get better, but if you buy now, you do 'fix' the rate, thus protecting against any adverse movement.

Crown Currency Exchange are offering $2:£1 for August delivery (and even better rates for larger amounts). You are simply entering into a forward exchange contract; fixing the price now for delivery at a future date. Don't make the mistake of equating the higher rates available under such a contract to a prediction that the rate will increase. The price is simply based on today's rate with an adjustment for the interest rate differential between the currencies. I deal with importers and exporters who routinely hedge against exchange rate fluctuations in this way. Whilst they understand the protection it provides them, most of them fail to grasp the pricing mechanism.

 

[lorapinky]

Hi everyone,

thanks for the advice, I am going to take it all on board.

I think we are going to order a few today as we can get them at 1.908 which is fairly good.

When we went in 2005 we got them at 1.75 so its a vast improvement

I think we will get £300.00 worth now and get some more in a few months which will give us to time to save some more money!

Thanks again everyone

 

[lorapinky]

Hi everyone,

Just bought some $$$ paid £313.00 and got $600.00 which I think is very good.

So I am now on a mini disney high!!!

Thanks for all your help and advice

 

[kristieuk]

Its only a good deal if the rate doesnt go up or down, even then there is the case for the lost interest. If you read the financial papers etc, the majority of economists think that te rate will rise further. You also run the risk of the money been lost, stolen burnt etc if you change it, i assume that it will be kept at home until your trip, if you are getting a large amount of money are you insured for keeping it at home, the majority of contents policys only cover the first £500 or so of money kept in the house.

Actually, we have a $ bank account, so they are safely tucked away. It's individual choice whether to risk waiting or not - I for one am more than happy with anything over 1.90 given that only a few years ago we were getting 1.45. I would sooner tie in that 1.90 + rate than wait to see if the rate rises by a couple of cents. But that's just me, I accept others will feel differently.

 

[sharon78]

We went and got some today from Thomas Cook for our April trip $1.90-£1
Better rate than we got last time.

 

[Ali and boyz]

we don't go until July but have bought ours and paid for our hired car its all a gamble but the way we look at it is $1.90 is really good so even if it does go up we will still be pleased

 

[lorapinky]

Hi everyone I have just pciked up some $$$ from my bank, they arrived today.

So I now have a disney buzz!

at 1.91 is was a steal.

When I went in 2005 it was 1.75...what a difference huh?

Thanks for all your help