As the pound has slumped at the mo and we only have 5 weeks till we go would you buy dollars today at 1.37 ??? I was hoping to buy when it got a bit closer to 1.5 but after the slump this week scared the life out of me would you advise just biting the bullet and buying
i know noone can actually predict so i guess its more a what would you do question x
It depends on how much money you can afford to 'lose'. If you get it now, you know what you're getting. Or you could get it the day before you leave and hope it's gone up, but obviously it may go down further. If you can afford to risk some money, I would wait. If not, I'd get it now, at least you'll know exactly what you're getting.
But I purchased yesterday from Crown Currency £2500.00 worth at 1.52$ to the pound.
They had a large number of cancelled contracts and was offering great deals in light of the recent drop.
I've used Crown a few times now and got taking to the agent who assisted me yesterday.
He said that it is impossible to predict any further than really 8 weeks in advance and although nothing is for sure, he estimated that it would drop even more to 1.19.
Thanks everyone U backed up what i was thinking if the rate goes up then we will be able to buy more but for now 1.37 seems as close to 1.4 as its gonna get !! I saw it at 1.45 on saturady and thought wait another day see if it can creep a little closer to 1.5 and the it crashed right down so im going to learn from my greed and go for it !!
Thanks for being honest peeps x
Also ive been using the comparison site that wayne put a link up for and found it very useful - its reccomended in the brits guide !!
You dont have to buy the full amount they were offering on the cancelled contracts. The sum they show available is the maximum that you could obtain at that rate, ie I think I could have had anything up to £7500.00 worth but choose just to get £2500.00 as we dont travel until October.
Its worth maybe giving them a call and seeing if they have any still available
The offer was only available for a couple of days as it related to all cancelled contracts.
As soon you logged on to Crown Currency it came up in box as "Cancelled Contracts Special Deals", I looked again on Wednesday and they had all been taken
As others have said, with only 5 weeks to go I would buy now. Like you say, if the rate improves, you could buy a bit more. Personally, I wouldn't like ot take the chance that it might drop further and, to be honest, the rate is unlikely to go up that much in just 5 weeks anyway.