when to buy dollars for 2007???

[lorapinky]

Hi everyone

I am thinking about buying some $$$ for our trip next year as the exchange rate at the moment is ok .

Do you think this is a wise move or should I wait?

 

[Hilary]

I wish I had a crystal ball

 

[Lizzy Lemon]

Hi everyone

I am thinking about buying some $$$ for our trip next year as the exchange rate at the moment is ok .

Do you think this is a wise move or should I wait?

I wish I knew. I'm in the same dilemma. Leave it in the bank and earn interest or buy now

 

[AndRu]

If you look at the past year (HERE) you'll see that the $ has gone on a roller coaster ride against the £ over the last 12 months.

It appears that it's on a climb again and heading back to $1.85 to the £. However, who knows if it will change again and drop down. Personally, if the exchange rate hits $1.90 to the £ - meaning that you'd get $1.83-$1.85 on the tourist rate - I buy dollars, even though we're not going back until August '07.

It's a gamble - the money markets always are. If the value goes up then I lose out but if it dropped to say $1.70 or less then I make money.

You pays your money and you take your choice!

 

[JohnnySharp2]

We tend to accumulate over a long period of time, just find it more fun I guess!.
I think if you can get a rate higher than 1.75 then it's a good idea to buy some now.

 

[Piglets Pal]

I am going in Jan 2007 and have started to buy some $$$ M & S are buying at $1.91 and selling yesterday at $1.78. they charge NO comission either which is good.

my understanding is there is the possibility that after MAY 10th the $ may drop against the £ as American interests rates are due to change.....not totally sure ...........

happy buying

 

[Gonz Of Lancashire]

If US interest rates increase, the exchange rates tend to go down.

 

[MrsJobba1]

Thanks for the info - We usually buy @ the Post office never thought about going any where else!

 

[JohnnySharp2]

Thanks for the info - We usually buy @ the Post office never thought about going any where else!

The Post Office used to offer very good rates, however, that has changed over the past year or so.
Generally they are about $1.73 at the moment - my local main PO is anyway - whilst some of the Travel Agents are offering $1.77.

.4 is probably not a lot of difference really, but I always try and get the best rate from the TA just on principle.

 

[tashasmum]

On the crown currency exchange website you can pre-order travel money for next year, the rate is currently 1.9007 if you don't want your money until april or a little bit more if you need it a bit later.

 

[Lizzy Lemon]

How does that work. Do they take your cash now and you have to trust them to pay up in your dollars in xxxxxx months time. What if the exchange rate is rubbish by that time. I don't think I fancy parting with my money until I can get the dollars in my sticky mitts!

 

[tashasmum]

I have never used this company myself. I have been looking for our trip in december and from what i can see you order your money at a guaranteed rate, but not sure when you would have to pay.If anybody has used this company they may be able to tell you more.