FabSwingers.com forum: Exchange rate

By *lappy OP Man
over a year ago

Manchester

With the autumn budget taking place towards the end of November and the bank of England set to increase the interest, possibly as early as November, I'm wondering what bearing, if any, it will have on the exchange rate as I'm going to USA in November and was thinking of getting my dollars now, in case it declines

All thoughts, advice and opinions great appreciated

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By (user no longer on site)
over a year ago

Whichever direction any change occur it will be initially marginal .....

Unless your converting significant amounts of money I wouldn't even consider the implications at the moment

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By *layfullsamMan
over a year ago

Solihull

Oh the joys of currency

I think that you'll get very slightly more towards November but not enough to make it significant.

On a thousand pounds you might get another £50 but one wrong word from someone and you could get less

When you do buy have a look at the comparison sites rather than just wander into the first exchange place you see.

Some big companies do the best rates and free delivery.

My advise is to not fixate on it but to spend your time planning your to do list while you're there, much more fun than following a figure up or down and worrying how much you'd have got if you'd only bought yesterday etc

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By *icecouple561Couple
Forum Mod
over a year ago

East Sussex

No idea. We recently bougt euros at a lower rate than it currently is because it looked as if it was going to keep declining. Then it the rate increased!

It's not worth worrying about because its almost impossible to predict.

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By (user no longer on site)
over a year ago

Interest rates up means a stronger sterling.... But

It's just bollocks IMO.

They've met about a hundred times and the votes never been greater than 2-7 on raising rates, saying your thinking about raising rates keeps sterling steadier as traders look to keep hold.

Currently the UK has about 1.7 trillion of debt, raising rates half a percent would mean significant extra costs on that debt... It's pretty much the reason when you look around the world today everybody has rock bottom interest rates

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By (user no longer on site)
over a year ago

Stay in this country..no hurricanes..no earthquakes...no cancelled flights and no worries about the exchanged rate.

No promises on the weather though

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By (user no longer on site)
over a year ago

"Stay in this country..no hurricanes..no earthquakes...no cancelled flights and no worries about the exchanged rate.

No promises on the weather though

Oh I don't know Teesside has it own permanent micro-climate ......

24/7 shite weather

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By *isty286Couple
over a year ago

Dorset

Some companies allow ordering up to 30 days in advance with the rate held, and no penalty for cancelling, order now if the rates increase cancel (You win) if the rates decrease complete the deal, (You win) this was a tip on MSE website, money saving expert.

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