Anyone else facing a foreign currency dilemma right now?

SixTwoSix said:
IDR and other oriental currency still on a downward trend. Not sure whether to bite the bullet and get a lump sum transferred over now. Are we expecting this to keep dropping?

inb4...nobody knows ;)
Click to expand...

The question is how do you feel about risk? It might go down more, it might go back up.

The one thing that is certain is, if you exchange it today then it doesnt matter if it gets worse. If it improves, yeah you have lost out potentially but I'm always a one in the hand kind of guy.
 
Greebo said:
The question is how do you feel about risk? It might go down more, it might go back up.

The one thing that is certain is, if you exchange it today then it doesnt matter if it gets worse. If it improves, yeah you have lost out potentially but I'm always a one in the hand kind of guy.
Click to expand...

It's just that I had a set amount put aside for a holiday, we budgeted for it and booked everything. However due to having a chunk of that money as spending/food money and also to pay for some accommodation, the devaluation of the pound has made it significantly more expensive.

2 weeks ago, 1 GBP was 19415IDR, a week ago was about 18000IDR, right now it's sitting about 17000IDR, in light of looking to exchange about £3000, that's pretty significant.

I literally don't know what to do, gut says wait, head says exchange it now. I wanted to exchange in country at the time of the holiday for the best rate.
 
Last edited:
It's been dropping for a while now so no real surprise, I was in the same boat back in feb when off to vegas with a fair wack of spending money. I would wait for a bit as may go back up.
 
That's frustrating 626. You might as well forget the rate 2 weeks ago, it's not coming back.

I think if I were you I'd exchange half of it now as Greebo says, then cut back on your spending plans if overbudget.
 
joeyjojo said:
That's frustrating 626. You might as well forget the rate 2 weeks ago, it's not coming back.

I think if I were you I'd exchange half of it now as Greebo says, then cut back on your spending plans if overbudget.
Click to expand...

I don't mind if that rate doesn't come back, it's only been that high for a few months, 18500 is more the normal rate. It was climbing back up mid last week and then took a plunge again.

I think I need to treat 17000 as my baseline now, absorb the hit and as you say, cut back on some spending when we're out there.

#firstworldproblems :D
 
I've got a holiday to Spain Friday,

I bought 1000 Euros a few days before the Brexit for £795

A quick look now and 1000 Euros is £876 :eek::eek:

I should have changed everything I had :p

IMO I'd wait or split the 'costs'
 
I live in the UK but I'm paid in dollars so the weakening of the pound vs the dollar certainly has it's benefits for me
 
Going to Florida in August, I bought £1000 worth of dollars before the Referendum but was hoping to use my CC for most purchases out there, hopefully the pound will gain some value in the next few weeks!
 
I'm moving to the USA at the end of the month with work, my savings have taken a huge hit.

Lost $4000 since the result alone. Meh

Could also affect my pay massively if (and when) my pay is reviewed due to the crashing rates.
 
I'm off to Italy on Friday, don't really care what the rate is, it costs what it costs.
 
Not going away in the immediacy but have my wedding booked for next year which is in Euros and will be several thousand so will just see what happens!
 
Before brexit I changed a bit of money to USD. Changed it all back and have a little bit spare :D
I say change half of it up now
 
If and when you do get the money go with Ramsdens, they hold your price for 6 days and will give you what ever the price is on the 6th day! Without being any less than what you've paid.
 
You must log in or register to reply here.
Back
Top Bottom