home
in

Foreign Exchange Rates

Last post Mon, Sep 08 2008, 11:51 PM by maxsteam. 1 replies.
Sort Posts: Previous Next
  •  Mon, Sep 08 2008, 2:10 PM

    Foreign Exchange Rates

    I am going to Florida in November and I'm worried about the current foreign exchange rate situation.

    Do I buy at a low rate now (around $1.68 to £1) or hold on a month or two to see if things improve??

    I'm worried that if I wait then I'll buy at an even lower rate! Please help!!

    • Post Points: 20
  •  Mon, Sep 08 2008, 11:51 PM

    Re: Foreign Exchange Rates

    The middle price is around $1.75 for £1 at the moment. The difference between that and $1.68 is made up of charges and shopping around can reduce that a little.

    Unfortunately this is one of those situations where you will have to make up your own mind and live with the decision.

    The $/£ exchange rate held fairly steady between January and the end of July. Since then it has fallen steadily (by about 10% in August) and, if I was to guess what will happen next, I would guess that, because it fell last week it will also fall next week. Such logic, of course, is a long way from infallible.

    • Post Points: 5