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Exchange rate

Discussion in 'General' started by Deafjeff, Jun 1, 2012.

  1. Deafjeff
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    Deafjeff Serious Forum Regular

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    I have just noticed that the exchange rates has dropped.

    I am wondering if we should start thinking about exchanging the money ASAP?

    It was 1.57 two weeks ago and now it is 1.51 or even 1.49 :unsure:

    What do others think?




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  2. Wendy
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    Wendy A hui hou kakou makuakane Staff Member Administrator

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    It's always a difficult one, deciding what to do :sigh: All this trouble in Europe isn't helping the £.

    It could go down lower in the short term, but then start to rise again or it could keep falling. I've always found that if I worry and then buy some it usually goes up afterwards :lol:

    Maybe buy some now and get some more later.
     
  3. Deafjeff
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    Deafjeff Serious Forum Regular

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  4. Wendy
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    Wendy A hui hou kakou makuakane Staff Member Administrator

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    No it isn't is it :sigh:
     
  5. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    yeah it was 1.61 (commercial rate) just a few days ago and now it's down to 1.53 or something.

    I guess I feel that these days, 1.5 is its natural point (v 2 a few years ago cryyyyyyy)

    if I get anything above 1.5 I feel ok anything below feels a bit booo but you have to be a bit pragmatic about it.

    unless you're changing serious 1000s, the odd point here or there doesnt make a HUGGEEE difference. Yeah I know every $ counts but yah know, it's like people driving 100 miles to get a penny off a litre of petrol. Life's just too short for that to make sense :)

    Like Wendy I'd say that if you're worried, buy some now. Sure it could go up and you'd kick yourself but it could equally go down. At least if you have your money changed you can kinda forget about the rate!
     
  6. daveann
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    daveann Addicted to Mickey

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    we bought some about 2 or 3 weeks ago at $1.58 wish i ha got more but i think its half of the holiday build up watching the exchange rates :)
     
  7. Slowhand
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    Slowhand Cruise Director Forum Host

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    If you are a regular vsitor to the US it sure pays to open a bank account over there.
    That way you can transfer some £`s into the account when the exchange rate is in your favour and spend the $$$`s when you are there without having to worry about the rate of exchange at the time. :thumbsup:
     
  8. daveann
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    daveann Addicted to Mickey

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    do you need to own prpoerty in the us to open an account over there?
    in a couple of years we are planning to buy out there and will need an account out there then but unsure if you can open one without an address out there.
    thanks for the answer before you give it :)
     
  9. keith
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    keith Camera nut Staff Member Administrator Forum Host

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    I always keep meaning to do that although not sure which bank would be the best (least fees) and quite what documents we need to open one!
     
  10. Slowhand
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    Slowhand Cruise Director Forum Host

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    We had to open one when we bought our villa over there in order to arrange the mortgage etc., however it isn`t necessary to own a property in order to do it.
    Opening an account is easy peasy. It`s just a matter of popping in to a branch of the bank with proof of identity and a few $$$`s and you are all set.
    I found the staff at Regions Bank at Champions Gate to be very helpful....they even have a Brit who works there which helps, and I do all my banking with them on line apart from transferring any funds which is carried out via my bank over here.
     
  11. daveann
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    daveann Addicted to Mickey

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    thanks for the info will have to look into it when we are over there :)
     
  12. Deafjeff
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    Deafjeff Serious Forum Regular

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    We have decided to exchange our holiday money today. We going to take the risk with 1.5 as it seems to be standard rate


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