What would you do?

The1nonly1

The1nonly1

The1nonly1

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Note that this is not a Brexit thread.

I'm going to Orlando on 1st December for 2 weeks but with the sterling losing value against the dollar, I'm not sure if I should buy now or risk it increasing in the next few weeks (if it does). The best I can get at the moment is £1=$1.21 from a supermarket.
 
What you should do is give me your tickets for the holiday, I'm prepared to take the hit on Pound to Dollar.

Happy to help.
 
How much do you plan on taking. I wouldn't count on it increasing, it's more likely to decrease in value.

Work out how much you'd get from todays rate, and then how much you'd get if it dropped a few pence. You'll probably find the difference negligible and then it won't matter either way.
 
Some places (eg. Eurochange) allow you to pay a few quid and exchange your leftover cash at the buying rate on return. Get it all now with this option. If the GBP rises against the USD in the meantime you can sell back at the same rate before you go and then cash in on the new higher rate. If it stays the same or the GBP drops then you have won by getting your dollars early.
 
Use a Halifax Clarity credit card for all the spending, and get the best rate at the time of purchase.

It could drop, but it could also improve... do you really want to exchange hundreds of pounds and have to worry about carrying it?
 
Tuppy_Glossop said:
Some places (eg. Eurochange) allow you to pay a few quid and exchange your leftover cash at the buying rate on return. Get it all now with this option. If the GBP rises against the USD in the meantime you can sell back at the same rate before you go and then cash in on the new higher rate. If it stays the same or the GBP drops then you have won by getting your dollars early.
Click to expand...

If the T&C's allow this (ie you're not limited on the amount you can sell back) and you have the cash sitting around, this sounds like a great idea, its basically a hedge against rates worsening with the benefit of the upside if rates improve.
 
Rids said:
If the T&C's allow this (ie you're not limited on the amount you can sell back) and you have the cash sitting around, this sounds like a great idea, its basically a hedge against rates worsening with the benefit of the upside if rates improve.
Click to expand...

The amount you pay determines how much can be returned. Iirc, £3 gets you up to 33% returned within three months. £6 gets you 50%, etc.

I saved £26 at a cost of £3 last year. I always do it.
 
Ill be taking £1,600 which at today's rate is $1,936. If it drops to $1.15 for every £1, I'll have £1,840. This won't bother me too much if it drops to $1.15 for every £1 so I might wait and see. I'll be taking a credit card just in case (looking at getting the clarity card) as my money will be split 60% on one of those pre paid cards and 40% cash for tips, toll roads and normal purchases.
 
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