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Exchange rate dilemma

Discussion in 'Tickets, Offers and Discounts' started by Deafjeff, Mar 30, 2010.

  1. Deafjeff
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    Deafjeff Serious Forum Regular

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    Hi,

    We are going to Florida this Sept and found a currency exchange website (Crown Currency or something like that) offering to exchange my £ to $ for 1.53 if I exchange them now for Aug delivery.

    I am not sure if I should hold out until the summer and see what the rate is like then....

    Any thoughts?
     
  2. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    I'm in the same situation and the honest answer is I dont believe anyone knows :(

    I've seen predictions that the rate will keep going down until the election because the markets are concerned about a hung parliament. Of course, if it IS a hung parliament, that could mean the rate really drops afterwards so getting it now would be better :/ (or doing what you suggest and guaranteeing a rate).

    Other people have said they expect after the election, assuming a non-hung, that things will go back up although not more than 1.58

    So :/
     
  3. Britchick
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    Britchick Serious Forum Regular

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    i don't honestly think that it will go up a lot more this summer than it already is so hold around 1.50. When we went last year i set myself a top and lower limit- if it got to the top i would buy, if it went below the lower i would buy. I actually ended up buying at the top so was very pleased. But only because i was obsessed with watching!!! :LOL:
     
  4. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    Im not worried about missing out on it going higher, to be honest I'm worried about waiting too long and it going DOWN. People are talking about 1:1 being possible this summer
     
  5. Britchick
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    Britchick Serious Forum Regular

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    shudder! I don't think it will, but that's just me.

    Personally i wouldn't give my money to a company that i didn't get the money up front, is it really worth the risk for say 10cents to the £1?
     
  6. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    they've been reliable for others for a few years but I do agree, that's why I havent used them myself :/
     
  7. Deafjeff
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    Deafjeff Serious Forum Regular

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    mmmhh it all confusing!

    Does anyone have experience of buying from Crown Currency Exchange?
     
  8. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    not personally but I think some folks on here have and I've read loads of reports from people saying it all worked out very well indeed
     
  9. Deafjeff
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    Deafjeff Serious Forum Regular

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    It actually 1.54 not 1.53 so it is quite good rate compared to others.......
     
  10. Britchick
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    Britchick Serious Forum Regular

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    we thought long and hard about this and the question we asked was would we be happy to lose our money for the gain.

    Each to their own of course and I know a lot of people have used them and speak highly of them. It has to be your decision:wiggle:


    Jeez i hope it doesn't go that low!
     
  11. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    me too, but with the choice of plonkers we're going to have to vote for in the coming months, I fear the worst :(
     
  12. ukwdwnut
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    ukwdwnut Director of Recruitment Forum Host

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    ive just posted the rates from the most popular places to buy currency from
     
  13. Disneybumble
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    Disneybumble The Secret is in the Sauce.

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    I have used crown,and for us they were fantastic. Money came exactly when they said and it was very comforting to dpeak to somebody if l needed to. AND l needed to. i forgot tp put my refrence number in the bank transfer. They couldn't have been more helpful.
     
  14. ukwdwnut
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    i used them last trip and they sent them earlier than they said :)
     
  15. tb2830
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    tb2830 Addicted to Mickey

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    i have a fairfx card that came yesterday:yes:
     
  16. ukwdwnut
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    from what ive seen posting the rates you get the best rate on these cards :)
     
  17. arkvilla
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    arkvilla Addicted to Mickey

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    I just sent some money over this morning and got $1.50 with XE.com but this is only for transferring money into our US bank account ( to pay the never ending bills :thumbsdown:)

    Sandra
     
  18. Deafjeff
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    Deafjeff Serious Forum Regular

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  19. Tink
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    Tink Cead Mille Failte! Staff Member Administrator

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    So, help me understand... :sigh:

    If the British Pound Sterling is closer to one to one exchange with the US dollar (that's better for me, I understand that) but how does that compare to the Euro in use in Ireland?

    If those ratios become more favorable to "me" is there sense in buying now (or if it drops more) and keeping the money until such time as we return to Ireland and visit the UK?

    Or does one not do that; buy foreign currency and save it for a later date? :unsure:
     
  20. Slowhand
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    Slowhand Cruise Director Forum Host

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    The Euro is quite strong at the current time compared with the GBP Tink. [ie we get less Euros when converting our Sterling than we did a while back...and the same applies to the GBP/US dollar rate compared with a couple of years ago.]
    It`s always hard to know when to convert currency to get the best exchange rate.
    If you feel that the US dollar/Euro is favourable to you at the present time, then there is no harm done in buying some Euros now and saving them for your trip.
    Obviously if the exchange rate changes later [after you have bought your Euros] then you will either kick yourself for not buying more at the time, or alternatively regret buying them in advance as you could have got a better deal if you had held fire.

    The whole currency exchange business is not for the faint hearted is it? :unsure:
     

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