$ Exchange Rates

[Ruth B]

I have began booking trip etc on my CC in $ but am holding off on the cash

 

[disneycymru]

Thanks for the reply, just wanted to keep track of how fast I was spending the money. By the way the commercial rate went back up 2 cents on Friday which means Monday the tourist rate should be back up to about 1.82. At the moment the rates are swinging dramatically up to 2 cents a day but they appear to be going up and down with a fairly static trend. Still at these rate who can complain.

 

[disneycymru]

One other question if you don't mind where did you use your card? I think someone said Publix are there other places? Thanks

 

[tartangirl]

There are ATMs all over the place.

Someone on these boards said that you can get charged for withdrawing cash at certain ATMs - same as you can in this country I guess.

I've taken money out at Publix, Downtown Disney, City Walk and I'm sure other places and never been charged.

I would have thought if you were going to get charged the ATM would tell you as it does in this country.

 

[Netty]

Thanks for the reply, just wanted to keep track of how fast I was spending the money. By the way the commercial rate went back up 2 cents on Friday which means Monday the tourist rate should be back up to about 1.82. At the moment the rates are swinging dramatically up to 2 cents a day but they appear to be going up and down with a fairly static trend. Still at these rate who can complain.

so do you think they will be up again from monday ??

 

[disneycymru]

Yes, the rate will definately go up on Monday although it may not reflect the full 2 cents as the Market is so volatile at the moment. Thanks for the info about the ATM's.

 

[disneycymru]

Netty,

Travelex selling at 1.8235 up about 2 cents. If you want to see the way the rates are going to go tomorrow just look at the commercial rates today. You can see this easily by going to a site like yahoo finance convert a $ to a £ and then select 1 day chart and then it will show yesterdays closing figure. With Travelex allowing on line ordering and price match you can always stay ahead of a drop, although at the moment it is going up and down as I said before.

 

[TraceyL]

There are ATMs all over the place.

Someone on these boards said that you can get charged for withdrawing cash at certain ATMs - same as you can in this country I guess.

I've taken money out at Publix, Downtown Disney, City Walk and I'm sure other places and never been charged.

I would have thought if you were going to get charged the ATM would tell you as it does in this country.

I took cash out at Universal & in Walmart - on both machines there was a sign displaying the $2 charge. I also took out cash in Epcot but can't remember if there was a sign or not

However - having checked back on my statements no charge was made

 

[disneycymru]

Thanks for the info, sounds like you had a good time from all the places you took out money.

 

[Netty]

Netty,

Travelex selling at 1.8235 up about 2 cents. If you want to see the way the rates are going to go tomorrow just look at the commercial rates today. You can see this easily by going to a site like yahoo finance convert a $ to a £ and then select 1 day chart and then it will show yesterdays closing figure. With Travelex allowing on line ordering and price match you can always stay ahead of a drop, although at the moment it is going up and down as I said before.

Thanks for that! i'll keep checking everyday.

 

[Sarnia]

Netty,

Travelex selling at 1.8235 up about 2 cents. If you want to see the way the rates are going to go tomorrow just look at the commercial rates today. You can see this easily by going to a site like yahoo finance convert a $ to a £ and then select 1 day chart and then it will show yesterdays closing figure. With Travelex allowing on line ordering and price match you can always stay ahead of a drop, although at the moment it is going up and down as I said before.

The rate will usually be set at the start of day, not on the closing rate of the day before. Overnight the market rates can move by hundreds of points, so setting rates based on the previous days close would be financial Russian roulette.

 

[disneycymru]

Sarnia,

Travelex usually change their rate about mid-day but this is based on the previous days movement. I have seen this done several times where the rate has gone down and they have increased the retail rate! I imagine this is because they buy the currency or commit to buy large amounts at the previous days rates. A bit like a fixed rate mortgage if you want to think of it in that way. It's not just Travelex but every does that as they have to fix the rate at some point in a 24hr period. Before the next 24hr period the rate can change quite a bit but not enough to cost them money. If the rates were that volitile you might see them been changed twice a day.

Also overnight the rate generally will only change by fractions of a cent not hundreds of pounds! I don't think I've seen a change of over 1c overnight, most of the time the big changes occur when our markets are open and the East Coast starts up about mid-day our time.

 

[Sarnia]

Sarnia,

Travelex usually change their rate about mid-day but this is based on the previous days movement. I have seen this done several times where the rate has gone down and they have increased the retail rate! I imagine this is because they buy the currency or commit to buy large amounts at the previous days rates. A bit like a fixed rate mortgage if you want to think of it in that way. It's not just Travelex but every does that as they have to fix the rate at some point in a 24hr period. Before the next 24hr period the rate can change quite a bit but not enough to cost them money. If the rates were that volitile you might see them been changed twice a day.

Also overnight the rate generally will only change by fractions of a cent not hundreds of pounds! I don't think I've seen a change of over 1c overnight, most of the time the big changes occur when our markets are open and the East Coast starts up about mid-day our time.

Ah yes that makes sense, I guess they know what their average turnover is er day, so they can pre-purchase it before-hand.

It was point I said, not pound. A move of 100 points in GBP/USD would be from 1.8600 to 1.8500. The price often moves my over 100 points overnight, occasionally by several hundred. It doesn't move at any particular time of day, if only it was so easy to predict

 

[disneycymru]

Another drop today, soon the comercial rate will be as low as the retail rate I bought at a few short days ago. Here's hopping all the press is right and the $ will increase otherwise my new nationwide account won't be as profitable as I first thought.

Sarnia sorry about the pound quote, one day I may learn to read, its a good job I'm a lot better at maths than english!

 

[Andrew DEREK UK]

Going in August decided to buy half now and half closer to the time to hedge my bets then one will be right!!

 

[scojos]

im not very good with cause and effect but...
they said on the tv this morning that us banks would be increasing their interest rates next week, surely that is good?
tracy

 

[lorapinky]

Hi

Sorry to sound dumb but is the rate good at the moment? I am going next year and was debating about buying some $$$$ before going???

 

[Cochise]

im not very good with cause and effect but...
they said on the tv this morning that us banks would be increasing their interest rates next week, surely that is good?
tracy

Nope, it isn't good.

 

[Sarnia]

im not very good with cause and effect but...
they said on the tv this morning that us banks would be increasing their interest rates next week, surely that is good?
tracy

The next Federal Reserve meeting to decide interest rates is on the 29th June, so they wont change until then.

If they do put rate up by another 1/4% then it is most likely that the USD would gain against GBP, so it wouldn't be good. This is because many in the market believed the last hike to 5% was the top of the interest rate cycle, or at that they would at least pause for a few months.

However if the market opinion changes so that a further 1/4% interest rate hike is widely expected (as is already beginning to happen), then it may be neutral to negative for the USD.

We have seen a 664 point correction in the GBP/USD rate over the last 3-weeks, so it is likely that people will be looking to start buying GBP and seling USD again soon, so you may see better rates to buy your USD again. Like I said in an earlier post, anything approaching a market rate of 1.9 is an excellent rate, but even 1.85 is very very good. Anything above 1.8 is still good historically.

 

[lorapinky]

again to sound dumb...huh?

Is it likely to hit 1.9? or has it? Gosh if it did that would be fantastic!