$ Exchange Rates

[disneycymru]

It did get close to $1.90 a few days ago but has gone down consistently for the past 5 days. If Sarnia is right then it may go back up but the markets are very fickle and if anyone could predict a pattern ahead of time then they would be rich and not sharing the information with anyone else! I've done the same as Derek and got some when it was high a few days ago and I will use my nationwide account to top up when I'm over there. This is a way of "hedging" your bets i.e. which ever way it goes you'll have one lot of your money at a better rate. I would doubt however that it will ever get much above $1.90 on the commercial rate and it is still about $1.84 on the commercial rate and it has been as low as $1.40! You also need to keep it in perspective when your looking to deal at the highest rate as 1 cent difference will only mean £10 for every £1,000 you change. In summary it's still a pretty good rate even though you will lose about £60 for every £1,000 you change compared to the amount of currency you would have obtained at the best rate.

 

[Andrew DEREK UK]

Currently it still is on a slide, i had $1.38 in 2003, dont think it wil lget there but maybe 50/50 now and the rest on travel, then you got 50% right at least!

 

[Sarnia]

If Sarnia is right then it may go back up but the markets are very fickle and if anyone could predict a pattern ahead of time then they would be rich and not sharing the information with anyone else!

Very true. Sometimes you can make very good predictions, but it's all just an educated guess. You can look at economic fundamentals, or use technical analysis, or both like I do, but sometimes you get it completely wrong.

I've worked in a bank's Treasury department for 17 years, and specialised in foreign exchange for the last 13 years, and sometimes the market still confounds me!

 

[Cochise]

Big thanks to Sarnia for the insight into the world of currency

 

[disneycymru]

Very true. Sometimes you can make very good predictions, but it's all just an educated guess. You can look at economic fundamentals, or use technical analysis, or both like I do, but sometimes you get it completely wrong.

I've worked in a bank's Treasury department for 17 years, and specialised in foreign exchange for the last 13 years, and sometimes the market still confounds me!

You're absolutely right Sarnia my wife works in the commercial division of a bank also, it's only a pity that even the experts can't predict the way things are going to move. At least like her you'll be lucky enough to get TC and Currency at a slightly better rate even if it's not as good as the commercial rate.

He's hoping that the rate stay's up as it's only another 3 weeks until our trip and I thought that for once I had booked our holiday at the right time. I have been over there when the rate was the same for Euro's and $'s! Hopefully there's no indication at all at the moment that we are possibily going to see a movement of that size even if the US continue's to increase it's interest rates!

Anyway thanks for all the info you've given, I hope you don't think I was questioning you're advice, but just wanted to let everyone know that the currency market is just as much of a gamble as stocks and share's when things are as volitile as they are at the moment.

 

[mattnkatsmum]

I will use my nationwide account to top up when I'm over there.

I'm the proud new owner of a Nationwide credit card, which I've just used to pay off my forthcoming trip booked with WDW in the States. (If they processed my payment at the right time I should get 1.88 or thereabouts ).

I'm just wondering whether it's worth using my credit card to get cash when I'm there. Can I use my cc to withdraw cash penalty free? Or would I be better off using a debit card (I have a FlexAccount). Do the US banks charge for using their ATMs?

 

[Sarnia]

You're absolutely right Sarnia my wife works in the commercial division of a bank also, it's only a pity that even the experts can't predict the way things are going to move. At least like her you'll be lucky enough to get TC and Currency at a slightly better rate even if it's not as good as the commercial rate.

He's hoping that the rate stay's up as it's only another 3 weeks until our trip and I thought that for once I had booked our holiday at the right time. I have been over there when the rate was the same for Euro's and $'s! Hopefully there's no indication at all at the moment that we are possibily going to see a movement of that size even if the US continue's to increase it's interest rates!

Anyway thanks for all the info you've given, I hope you don't think I was questioning you're advice, but just wanted to let everyone know that the currency market is just as much of a gamble as stocks and share's when things are as volitile as they are at the moment.

No it's very unlikely that the USD will make any major gains of that nature in the near future. The reason that the dollar has fallen so much recently is because the market has started to focus on the U.S. trade deficit again, now that U.S. interest rates are perceived to be near the top of the cycle.

I'm not sure that GBP/USD will be able to get back below 1.8000 for some time, but I also think it will struggle to get above 1.9000, and even if it does I think it will fall again quite quickly.

I didn't take it that way at all disneycymru, at the end of the day your guess is as good as mine as to what the GBP/USD rate may do

I can get USD at the commercial rate, but unfortunately we don't deal in cash, so I need to open a US bank account to transfer funds to. I meant to do it when we were there at the end of April, but never got a chance.

 

[disneycymru]

I'm the proud new owner of a Nationwide credit card, which I've just used to pay off my forthcoming trip booked with WDW in the States. (If they processed my payment at the right time I should get 1.88 or thereabouts ).

I'm just wondering whether it's worth using my credit card to get cash when I'm there. Can I use my cc to withdraw cash penalty free? Or would I be better off using a debit card (I have a FlexAccount). Do the US banks charge for using their ATMs?

Hi Karen,

There will be a cash withdrawl charge of 2% or £2 whichever is the greater and some US Banks do charge a fee to withdraw cash, you should check with the bank but I beleive you can withdraw cash with your debit card from the likes of Publix (supermarket) for free as you do over here.

I would therefore suggest you use your debit card in the supermarkets to get cash after checking they don't charge would probably be the cheapest and most convenient.

 

[disneycymru]

No it's very unlikely that the USD will make any major gains of that nature in the near future. The reason that the dollar has fallen so much recently is because the market has started to focus on the U.S. trade deficit again, now that U.S. interest rates are perceived to be near the top of the cycle.

I'm not sure that GBP/USD will be able to get back below 1.8000 for some time, but I also think it will struggle to get above 1.9000, and even if it does I think it will fall again quite quickly.

I didn't take it that way at all disneycymru, at the end of the day your guess is as good as mine as to what the GBP/USD rate may do

I can get USD at the commercial rate, but unfortunately we don't deal in cash, so I need to open a US bank account to transfer funds to. I meant to do it when we were there at the end of April, but never got a chance.

Thanks for that opinion Sarnia hopefully I will be able to give my Nationwide Account a bit of a bashing, as I am getting such value for money.

 

[Netty]

disneycymru/sarnia
thank you both so much for all your information regarding the exchange rates i wish i had got my dollars last week when the rate was just over $1.80, but now that its below this, it isnt such a difference, so i wont lose out on too many dollars!

 

[Blue Daisy]

Hi Karen,

Just noticed your location. Snap!! When do you go to WDW? We are due to go on 15th July for 2 weeks.

Kay

 

[mattnkatsmum]

Hi Karen,

Just noticed your location. Snap!! When do you go to WDW? We are due to go on 15th July for 2 weeks.

Kay

Wey hey... another Leigh DVCer. I travel on 25th August for one week. I'll pm you!

 

[Andrew DEREK UK]

Good luck all looks like it peaks for the moment

 

[Simon06]

I wish I had got some when it was 1.83 its now 1.77 at most places, but with not going until april 2007 I waited hoping it would go up, I suppose that it could all alter between now and 2007

 

[Cochise]

You bet it will Simon. Been keeping a close eye on this as i have half our spending money ready to change. So far the £ strong on the commercial market today.

 

[JohnnySharp2]

I think anything just below or above 1.80 is a decent rate, doesn't seem that long ago it was 1.50.

 

[Miffy2003]

I think anything just below or above 1.80 is a decent rate, doesn't seem that long ago is was 1.50.

Completely agree

We always budget at $1.50 so any more than that is a lovely bonus

 

[Andrew DEREK UK]

Completely agree

We always budget at $1.50 so any more than that is a lovely bonus

I said before in 2003 was there and it was 1.38!!

 

[Cochise]

The £ is taking a little battering over the last couple of days, even the likes of Thomas Exchange is coming down and is at $1.79 today.

Ouch!

 

[Netty]

The £ is taking a little battering over the last couple of days, even the likes of Thomas Exchange is coming down and is at $1.79 today.

Ouch!

I am ordering mine today.
have a look at thomas exchange global, their rate is $1.81 and tc's are $1.79

http://www.thomasexchangeglobal.co.uk/