Exchange Rates : Wait or Exchange $ to £
- Thread starter MarkeR
- Start date
Why on earth have you converted too much.
You would have paid a margin converting to $ and now will pay a margin again to convert it back to £.
As for what will happen to the $:£ rate, if anyone here knew with any certainty, they will be very rich soon.
Remember also that by keeping it in cash you are losing the 1.5% interest you could get for it.
You would have paid a margin converting to $ and now will pay a margin again to convert it back to £.
As for what will happen to the $:£ rate, if anyone here knew with any certainty, they will be very rich soon.
Remember also that by keeping it in cash you are losing the 1.5% interest you could get for it.
Last edited:
^^^ this
The exchange rate is pricing in the likelihood of hard brexit. So it is likely to drop a little further when article 50 is invoked, and then be all over the place depending on what rhetoric May decides to spout. If we leave the Single market it's probably got another 10-20% to fall.
I think we'll see $1.15 : £1 soon enough, so personally I'm waiting but that's only a £100 difference on what you're changing. Presumably you'll make money on the conversion now anyway (assuming you flipped to USD before the most recent fall), so could just transfer now and forget about it. Whatever you do avoid the airport currency shops as their rates are abysmal, your own high st bank will probably be better, but your best option is one of the currency brokers (e.g. transferwise, currencies direct, UKForex) which all give much closer to the spot rate, but you'll need a USD account to send them the dollars from though.
Trump victory may have an immediate negative effect on the dollar but then will come Brexit knocking the pound down again, also likelihood of Trump now is small.
Trump victory may have an immediate negative effect on the dollar but then will come Brexit knocking the pound down again, also likelihood of Trump now is small.
Last edited:
