What happened to the exchange rate!

[zippy99]

It all looked so good at the beginning of May - hovering around 1.6, looked today as I was going to change £800 to pay half my Disney balance (I put money on fairfx and pay with that card) and it was 1.51!

So my $1280 I could have got is looking more like $1208. In the grand scale of things my balance is only going to cost around £70 more than at the beginning of May, but I was shocked to see such a drop.

Fingers crossed it will go up again! May sit on my £800 for a bit to see what happens!

Anyone else wondering what to do?

 

[joolz1910]

Same here. Wondering whether to get some dollars now or wait a while.

 

[paulh]

got our $ at $1.58 earlier this month,also paid for 3 nights of DDP at $1.61 on CC(post office).saw with the euro crises that the $ will be a safe haven if grease bails out.good for our winter skiing hols but bad for our dues and summers at Disney
Paul

 

[2Tiggies]

I didn't realise it had sunk so low! I also changed money at the beginning of may and got $1.59 for it. Hope it rises. However, that said, we go through this every year at this time of the year so it's nothing new. The only difference is it is blamed on different current events, however I remain optimistic. If not, I guess it is what it is and I will have to work with that. Bit of a financial squeeze this trip, so I could use a better rate, as could so many other's I'm sure!

 

[Disneynutinlondon]

same here. not quite ready to change money yet but i worked out what we would need for spends on a rate of 1.60 and 1.50 and sooooo liked the look of the 1.60 rate

Still as were not going till end of Sept I've got time to wait ......

 

[chmurf]

Try to imagine what it feels to hold the Euro as a currency ...

It (euro) fell from $1.33 in april down to $1.23 today.

It seems that international finance bigshots are considering that to help greece and other debt ridden country, the Euro should reach $1.15, so the Euro is bound to fall even further.
The Sterling Pound follows closely, even if it shall remain higher than the Euro.

I have budgeted $3000 as spending money for our october trip.
When I started to plan, I needed 2250 euros. Now I need 2440 euros and it's going to get worse.
That's almost 200 euros ( £160 )
it's still manageable, but it hurts.

In the same time, the euro dropped from £0.84 down to £0.80
That may not seem much but I still have a £2000 balance to pay to WDTC-UK, if I had to pay it now, it would cost me an extra 120 euros compared to when I booked. (it's like your stay had suddendly been increased by £100)

I also don't know what to think. Take money out of savings and pay the balance and buy $ now, or hope for the best and that it will eventually go up again.
I'm rather pessimistic on that matter.

But giving any advice now would be foolhardy

 

[wayneg]

I rarely use cash but bought some off a customer a few month back at $1.60, that should be enough for us this summer, hope it picks up again for our Nov trip.

 

[2Tiggies]

same here. not quite ready to change money yet but i worked out what we would need for spends on a rate of 1.60 and 1.50 and sooooo liked the look of the 1.60 rate

Still as were not going till end of Sept I've got time to wait ......

Actually, the 2.05 rate I got a few years ago was even better! Just saying

 

[Disneynutinlondon]

Actually, the 2.05 rate I got a few years ago was even better! Just saying

OMG I am sooooo with you there I remember those days when everything was "half price " ....... good times

 

[paulh]

have had rates as low as $1.10 to £ so not worried yet
Paul

 

[2Tiggies]

have had rates as low as $1.10 to £ so not worried yet
Paul

Paul! Stop being the prophet of doom!

 

[rex008]

First time I went to Disney it was $2.45. Then again, that was 1981, and I was 8, so I'm not sure I cared that much .

I think if I was paying in Euros and had the money, I'd be tempted to exchange now. I strongly suspect it's going to get a lot worse before it gets better.

£/$ I'm not so sure. Unless you can get a better rate for exchanging more at a time, it may be worth getting a few $ each month until you go - take advantage of the cost average effect (ie you get more when prices are low). Of course you do lose out on interest, and there is a physical risk in holding currency, so depends if it's worth it to you. Crossing your fingers and hoping it goes up again won't necessarily achieve that much .

 

[Samaya]

Paul! Stop being the prophet of doom!

Don't want to also be a prophet of doom but if there's a continuing drop in the exchange rate of the pound against the dollar then the travel companies do have the option to increase the cost of the holiday.

This is normally covered in the 'Agreement' under pricing, if the holiday increases by more than 2% prior to 30 days before departure then they do have the option to increase the price of the holiday.

Over the last month the pound has dropped from $1.62 to $1.534, about 5%.

If the pounds drops further as some pundits are predicting then travel companies might decide to increase their prices.

But that also depends on the rate which a brochures prices were originally worked out on. Example, August 2011 was averaging around $1.64 while January 2012 was averaging $1.55.

So for some it might not just effect their spending money but the cost of the holiday as well, a double whammy and something to be wary of.

But fingers crossed those pundits are wrong and the pound stays at least above $1.50.

 

[2Tiggies]

I hear what you're saying Samaya. I am one of those people who stresses in bits and pieces here and there, but it's short lived. I change some money whenever I think the rate is good enough that I'm happy with it at the time so I have lived the last 5 years continuously buying $$, regardless of whether I have a trip booked. I certainly hope that there is not an increase in cost, although mine is not a flight inclusive package and I don't recall if that is worked differently.

I am aware of the terms and conditions however and at the end of the day, it is what it is. I'm going. It would cost me more to cancel at any point than it would to put any excess (if applicable) onto a credit card.

But we went through this last year too, with a long running thread entitled something along the lines of "The £ is in freefall ..." A few months later it had regained some of its strength. No way to tell but I'm not going to panic and buy just yet. If I see it sliding around the 1.50 mark I'm going to do a bulk buy, but otherwise I will take my chances. I budget my spending money on the pessimistic rate of 1.50 at the moment so it is not likely to have a huge impact on me for a few cents if it ends up hitting say 1.48 when I buy.

Eternal optimist, lol

 

[igk]

If there's any consolation to be had the price of oil has fallen much faster than the pound, so that should prevent price increases in air fares etc.
The last few years I have thought the 1.50-1.60 range to be about 'right' - anything above 1.60 'good', below 1.50 'bad', and I try to not worry too much about daily fluctuations.
That said it has fallen quite fast the last few days...

 

[crabbie1]

If there's any consolation to be had the price of oil has fallen much faster than the pound, so that should prevent price increases in air fares etc.
The last few years I have thought the 1.50-1.60 range to be about 'right' - anything above 1.60 'good', below 1.50 'bad', and I try to not worry too much about daily fluctuations.
That said it has fallen quite fast the last few days...

Same here . As long as it doesn't drop below $1.50 I'm happy. I always find weds a good day to buy. It seems to pick up mid week for some reason. Only got $103 dollors so far and $43 from last year $3000 to go

 

[paulh]

as we have been going now for over 20 years the rate has always varied,the average over that time frame is the $1.60 mark.
Have worked out that it not viable to go if £ drops below$0.95
Paul

 

[Molyneuxd]

You all need a friend who works in the exchange! I buy mine off the people who bring them in to sell!

Mine worked out at £1 = $1.78 last month!

Buy in bulk when they high and sit on them, be a long time before we see prices of £1 = $2 again.

 

[pigby]

You all need a friend who works in the exchange! I buy mine off the people who bring them in to sell!

Mine worked out at £1 = $1.78 last month!

Buy in bulk when they high and sit on them, be a long time before we see prices of £1 = $2 again.

mmm - Well good luck to them if they can do that. I work in a Bank - if we did that, we would get the sack

 

[Disneynutinlondon]

mmm - Well good luck to them if they can do that. I work in a Bank - if we did that, we would get the sack

Me too !!!!!