Exchange rate blues !

[MadScouser]

The $ rate has been tanking this week - from £1 : $2 just a few months ago, it is now barely £1 : $1.55

Isnt this just a pants time for it to happen with dues in January - what will happen to the rate by then ?

 

[wideeyes]

I don't pay dues until May however I have been over cautious with the exchange rate and have budgeted the amount $1-£1. Any left over I leave for January 2010. I hope it goes up a bit though, I would be more than happy with $1.60

 

[Boss Hogg]

I don't pay dues until May

Are you sure about that? I thought everyone's annual dues got paid in Jan for the coming calendar year

 

[wideeyes]

Are you sure about that? I thought everyone's annual dues got paid in Jan for the coming calendar year

It is because I brought at AKV and Kidani does not open till May so can't use my points at all on stays till may. My guide said I would pay in May a reduced rate for rest the calander year.

 

[wideeyes]

unless he has given me the wrong information again

 

[Boss Hogg]

It is because I brought at AKV and Kidani does not open till May so can't use my points at all on stays till may. My guide said I would pay in May a reduced rate for rest the calander year.

Sorry, that could be correct, presumably you don't close until May next year, which would then be correct - you'll only pay for May-Dec next year.

 

[Jets fan]

When the rate started to fall I paid $1,000 to DVC although I don't know what the amount will be in Jan. Am glad I did now

 

[tubtruck]

Look on the bright side, if you already own you have an asset that has recently significantly increased in value, the 250 points I purchased in 2006 would now cost me (if purchased at the same price in dollars) almost £2700 more in UK money than I paid. At least you will only have to take the hit on annual dues. None owners will have to pay more on the whole amount for their accomodation which is now considerably more.

Oh and don't forget if you decide to rent your points out on the UK boards $10 per point now equals around £6.50 per point. Anyone who still asks for £5 per point for them is in effect only asking $7.80 for them.

If I wanted to rent out rather than use myself I would be getting an annual return of 6.8% on my initial investment at todays rates if rented out at $10 per point which at the moment is an excellent rate of return and significantly better than the average uk buy to let. At the present time I wont be using this option as I have already booked and paid for next years flights.

Anyone who is wanting to sell their membership will also do quite nicely I reckon that I would be around break even on my SSR contract already, even with the low resale prices at the moment simply because of the stronger dollar.

If the dollar does continue to strengthen and the pound winds up nearer to dollar parity I would be tempted to sell though I dont think DW would allow it but it would certainly then be a nice chunk of money towards the mortgage and we could always look at buying again if and when the pound strengthens.

One downfall is, if like myself you were considering adding on it will now cost you more money, personally I wont be rushing in to it now.

 

[Boss Hogg]

You're quire right, there are always two sides to exchange rate issues.

I've been working out how much more our Annual Passes are going to cost us when we buy them on Monday compared to a if we'd bought a few weeks ago and it doesn't make for pleasant reading - at least we're on holiday though I guess!

 

[Hilary]

I heard a reference today to the 'record low rate of £1:$1.37 in 2001'. I remember it well - that was when we joined DVC! !

... so, although I've enjoyed a better rate for our annual dues since then, $1.55 doesn't sound too bad to me

 

[happyj]

We still have a few weeks and as we have seen recently anything could happen .Just keeping our magic fingers crossed
Janet

 

[tubtruck]

I heard a reference today to the 'record low rate of £1:$1.37 in 2001'. I remember it well - that was when we joined DVC! !

... so, although I've enjoyed a better rate for our annual dues since then, $1.55 doesn't sound too bad to me

The all time record low is actually £1 - $1.02 this occured in Feburary 1985.

 

[john storey]

We had a nasty experience with our firms bankers back in April which scared the pants out of me, we then went off to Disney for 3 weeks & tried to put it to the back of our minds. On returning & changing banks things improved slightly. As a result I prepayed our dues, booked 2009's 3 week holiday, payed our air fares & brought our currency (all at around 2 dollers to the £) phew what a relief. I did it on the basis that there was a possibility that We would be out of work & at least we had next years holiday booked & payed for, all we have to do now is stay employed.

 

[mark&sue]

I paid my annual dues three years in advance in July when I got $2 to the pound. However we are in Spain in the moment and it is not better here with the euro. (hence I cañt find the pound sign on this keyboard!) I guess the main thing is keeping our jobs.

Just hope things improve in the future. fingers crossed.


susan

 

[Welcome Home!]

Hi All

Just back from Disneyland Paris Sequoia Lodge. Great trip apart from weather and Prices! The bad euro rate makes for a very expensive trip but does make the DVC points for accomodation seem a little more realistic. Also looks like the Pound/Dollar rate has improved a little over the last week.