Exchange rate is a little better, any predictions?

[1andrea]

Hello all,

The exchange rate seems a little better for those swapping £'s to $$$ than it was a few weeks ago.

Does anyone have any predictions on whether it will continue to get better. I have to buy $$$ in the next couple of weeks!

I know no one has a crystal ball but a little chat will pass the time if nothing else!

xx

 

[mackay_j]

I saw some long term predictions that were as low as 1.45. I think a lot will depend on what happens over greece. If they default I think the euro to $ will slide and take take the £ down with it (all be not nearly as much as the euro)

 

[Elise79]

If you are happy with the rate then get some now. Its 5c higher than it was a few weeks ago.

 

[wayneg]

Its 100% not possible to predict. You can try figure out what is going to happen but the markets have already factored in all known information. Its total guesswork which way it will go.

 

[2Tiggies]

If you are happy with the rate then get some now. Its 5c higher than it was a few weeks ago.

This. Do it.

 

[scoobydooby]

If you are happy with the rate then get some now. Its 5c higher than it was a few weeks ago.

Yes I agree. This. I have changed as high as 1.9 and as low as 1.5. This last few years as soon as its 1.5+ I exchange when I've got my savings in place as it has been so precarious. I do miss the 1.9 days! Think I got 1.55 when I got our $s several weeks ago.

 

[DLPDreams]

Our local TA was offering 1.56 today. I have to say, I am really tempted to change our cash now (we go in 6 weeks). It's the most it's been in ages. The thing is, if you exchange a larger amount, they offer an even better rate (not sure what that is, I'd have to go in). So, I might have a little look tomorrow. It's one of those things, you just have to go for it and then not look again (but I will of course!!).

 

[wayneg]

Last few times I have used Debenhams via Moneysavings expert, yesterday the rate was 1.5616(I think they update their rate around 8am) plus you get a £5 voucher to be spent on day you exchange. It used to be £5 off anything but now there is a minimum £20 purchase, still good if you intend to buy something over £20.

 

[1andrea]

Last few times I have used Debenhams via Moneysavings expert, yesterday the rate was 1.5616(I think they update their rate around 8am) plus you get a £5 voucher to be spent on day you exchange. It used to be £5 off anything but now there is a minimum £20 purchase, still good if you intend to buy something over £20.

I had to wait until we were both paid today and this morning has gone down slightly grrrrr.

I usually go via Quidco and use Travelex and then email them to take advantage of their price promise to match Thomas Exchange Global who are 1.56 today. Still not sure what to do!

 

[1andrea]

Our local TA was offering 1.56 today. I have to say, I am really tempted to change our cash now (we go in 6 weeks). It's the most it's been in ages. The thing is, if you exchange a larger amount, they offer an even better rate (not sure what that is, I'd have to go in). So, I might have a little look tomorrow. It's one of those things, you just have to go for it and then not look again (but I will of course!!).

Who was your TA are they an independent one or a high street agent, thats a good rate if they go even higher for larger quantities!

x

 

[1andrea]

Yes I agree. This. I have changed as high as 1.9 and as low as 1.5. This last few years as soon as its 1.5+ I exchange when I've got my savings in place as it has been so precarious. I do miss the 1.9 days! Think I got 1.55 when I got our $s several weeks ago.

Imaging 1.9! I think the best we ever travelled on was around 1.7 which was brilliant. I wanted to wake up this morning for it to be 1.9 or even 1.7!

 

[wayneg]

One year we got over $2, that would be nice again.

I don't stress about it anymore. I just use a fee free card and pay it off on return. I accept whatever rate it is while out there. Today that would be $1.58, hopefully in August it will be around that or better.

 

[mackay_j]

Just a little heads up for anyone going on a cruise with Royal Caribbean as part of their Disney trip or ahead of any USA trip . You can buy on board credit at 1.67 and then cash it out if unused. This is how we are getting our money for our next Florida trip I have being buying as mush OBC as I for our italy cruise this summer then I will cash out at the end to use at Xmas in Orlando (or could use family to do it) . I think celebrity cruises would be the same not sure of the others but probably worth looking into.

 

[1andrea]

Just a little heads up for anyone going on a cruise with Royal Caribbean as part of their Disney trip or ahead of any USA trip . You can buy on board credit at 1.67 and then cash it out if unused. This is how we are getting our money for our next Florida trip I have being buying as mush OBC as I for our italy cruise this summer then I will cash out at the end to use at Xmas in Orlando (or could use family to do it) . I think celebrity cruises would be the same not sure of the others but probably worth looking into.

It's almost worth booking a cruise for that rate!

 

[1andrea]

One year we got over $2, that would be nice again.

I don't stress about it anymore. I just use a fee free card and pay it off on return. I accept whatever rate it is while out there. Today that would be $1.58, hopefully in August it will be around that or better.

We usually take our daily food money in $$$ and then any clothes shopping spends go on our Post Office MasterCard Credit card which is fee free.

I do like to have the cash so I know how much I have to spend each day but I didn't realise how much better the rate is on a card.

Where do you find the rate for today?

Xx

 

[wayneg]

Just a little heads up for anyone going on a cruise with Royal Caribbean as part of their Disney trip or ahead of any USA trip . You can buy on board credit at 1.67 and then cash it out if unused. This is how we are getting our money for our next Florida trip I have being buying as mush OBC as I for our italy cruise this summer then I will cash out at the end to use at Xmas in Orlando (or could use family to do it) . I think celebrity cruises would be the same not sure of the others but probably worth looking into.

Can't find any details on RCCL website. Not sure how it works but the wholesale rate is $1.58 so no idea how they can offer $1.67. I did see this post while searching.

"If you are considering a cruise with Royal Carribean please be aware that if you pay with a credit or debit card, involving an exchange rate, your final statement will NOT reflect what they take from your account!
We were on honeymoon and my husband bought some Art on board. Our final bill came to 5038 dollars and on the statement they quoted an exchange rate of 1USD=64.61p. Using this exchange rate the bill was £3694.55. They claimed £4123.99 from our Bank.
When you receive the booklet from Royal Carribean read carefully. They changed the money at a much higher rate than anyone else and they add 3% for Bloomberg.
We reckon this added an extra 9% to our bill. I was angry . This is a very expensive way to pay.
The cheapest way is to pay in US DOLLARS on the last night of the cruise. They have a safe in every room."

 

[mackay_j]

Yes Wayneg - always pay cruise bills in dollars we used to use pre paid $ cards fairfx for cruises and orlando - but since finding out about the obc we have gone that way so we will both pay our on board bill and then cash out the rest in $. If any one wants the number for getting the OBC then let me know - I got it from cruise critic so could find it again on there. You can only do this if the cruise was booked through uk- (it is often cheaper to book through a usa TA but if this way you cannot get the 1.67 rate) Apparently the rate is set annually and won't change until re-set date (I asked on the phone but they wouldn't tell me what that date is lol)

 

[wayneg]

We usually take our daily food money in $$$ and then any clothes shopping spends go on our Post Office MasterCard Credit card which is fee free.

I do like to have the cash so I know how much I have to spend each day but I didn't realise how much better the rate is on a card.

Where do you find the rate for today?

Xx

The rate you get on a fee free card is the wholesale (interbank) rate which is near enough what is shown on the BBC website http://www.bbc.co.uk/news/business/market_data/currency/11/12/default.stm

I only use cash for tolls now.

 

[DLPDreams]

My local TA is specific to our area - a small independent but always offers some of the best rates for currency. Alas, I rang them this morning and their rate is now 1.5499 so not as good. I think next time it hits 1.56 I just have to bite the bullet!

We are taking £1,000 cash (that is between the four of us so we are covered for insurance - I've checked!), the rest will be Halifax credit card (shopping etc). I wanted to pay for fuel with cash (I just don't trust to use our card after hearing so many stories about cloning at garages - I know it can happen in shops too but I just feel uncomfortable), tolls, our grocery shop, our Wishes cruise and the girls' BBB makeovers - there won't be much left after that!! So, the remainder will be on the CC and paid off on return.

I need to crack open our terramundi pot - not sure when to do that though! I was hoping to use the bulk of it towards the £1000 cash I'm planning on getting. I am hoping I'm not disappointed when we open it - it's been a fair slog to fill it, partly because we've been saving £2 coins! I think if I were to do one again, I'd go for £1 coins - yes, I know you won't fit as much in, but I think we'd save more as £1 are more readily available. You can't see in that well, but I think we are just about half way with it!

 

[2Tiggies]

Is it not better to just buy now and be done with it? For £1000, waiting for it the rate to rise by 1.1 cents to the pound will give you a grand additional total of a little over $10. You have to be changing large sums of money or facing drastic fluctuations to see the difference of a couple of cents. I think that anything over $1.50 is pretty good.