When to buy my US Dollars?

[Blue Oval84]

Going to New York in November, the current exchange rate looks ok, for example the Post Office are currently offering £1 - $1.58.

So, would the PH collective recommend purchasing soon, or leaving it in case the dollar weakens/pound strengthens?

Thanks for your economic insight in advance!

[davepoth]

Assuming no global financial shocks in the next few months, the historical data says wait.

http://www.oanda.com/currency/historical-rates/

Do a 12 month graph GBP vs. USD and you'll see the rate has been steadily climbing.

[Blue Oval84]

Why thank you sir

[audidoody]

Get one of these. Better rate.


http://www.caxtonfxcard.com/

[pugwash4x4]

OK instead get a Halifax clarity card then:

http://www.halifax.co.uk/creditcards/low-rate-no-f...

proper credit card from a reputable bank, they give you pretty much market rate, with no fees to purchase abroad. You do pay interest for cash transactions, buts its far far far better value than using a debit card or cash.

Recent trip to Mauritius was a case in point- we spent 65,000rupees- if we had purchased cash at travelex this would have cost us £1,590, if using a debit card it would have cost us £1,458, and using our halifax card (including interest) it cost us £1,387.

So bascially a saving of £203 for no particular reason.

[audidoody]

anonymous said:

[redacted]

Well I've been using their currency cards for two years without a hitch. Load it by text or online and the credit appears in seconds. Never had a transaction refused. I never have more than £200 on it at any one time. So I'll take my chances that Newcastle Building Society won't go tits up.


ETA: The Halifax Clarity Card is a credit card. The Caxton card is a prepay debit card. Apples and Pears.

Edited by audidoody on Monday 6th June 16:13

[jshell]

Been using www.fairfx.com cards for a couple of years now, great service with specific $, Euro and 'all currency' cards.

Saved a lot of money on last New York trip!

[MX7]

Buy a crystal ball.

There is no definitive answer.