Yikes! The $ rate is in freefall

[kristieuk]

I don't profess to understand why, but checked the $ rate this morning, and the bank rate has plummeted to 1.62!

We were so lucky that we changed most of ours at 2.03 by paying it into our Citibank account which seems unbelievable now, but I feel like I don't want to spend it when to replace it would cost ££££.

I am so glad we did get cash too - if we had waited to use our Nationwide card, we would be about £800 worse off on our £2000 spending money

 

[JohnnySharp2]

I know what you mean, so glad we accumulated ours over a period of time when the rate was high.

 

[Boss Hogg]

Does seem to be going down, I can still find 1.67 this morning. Just need to hope it goes up in the next week or so

 

[~Fisharefriends~]

I know what you mean, we brought our ap's at the beginning of the year for 1.99 to the pound, which has saved us a fortune. we also brought some cash as well which im glad we did because normally we would just use my post office card.

 

[natalielongstaff]

Does seem to be going down, I can still find 1.67 this morning. Just need to hope it goes up in the next week or so

Still not got mine, im hoping it climbs as well

 

[wayneg]

Does seem to be going down, I can still find 1.67 this morning. Just need to hope it goes up in the next week or so

Whos doing that Matt? pre order or high st?
Just had a quick look few I looked at in High st $1.57 ish. The comparison site I looked at was out of date, prices crashed overnight. Interbank rate is 1.6299 so $1.67 would be great.

I usually use Nationwide card but will probably use cash I got at $2/£1 this trip, hope it goes back up a little for Xmas and use card then.

 

[Chilly]

I wonder if it might get better after the election

 

[orangetiggs]

fairfx is showing 1.61, I hope it gets better as well but unless the recessional fears are stopped then I dont think it will

 

[earthelves]

The Money Shop Is $1.64 As Of A Few Mins Ago

 

[Graeme]

The good old Bank of England announced to the world that the UK was heading for recession which caused the fall. The last big fall was caused when Alistair Darling said the same thing. I don't know why they feel the need to state the obvious when it causes so much unrest.
Think it might get worse before it gets better unfortunately.

 

[disckobox]

Does anyone know what's likely to happen to the dollar during the election?

Does it usually slump during an election or get stronger? I'm off over there in 4 week and just wondering whether to cut and run or wait for the election may hold.

 

[Boss Hogg]

Just bitten the bullet at 1.6574 from Travelex, as everywhere else shows lower I think that this should drop during the course of today - Travelex don't seem to be the quickest at reacting to movements.

Not sure where it is going to go. I suspect that the markets will want Obama in charge rather than McCain, so if that happens the $ will strengthen I would think

Made sure I got the "buy back" with Travelex, so at least if the rate has improved by the 1st when we collect them we'll get the better rate - here's hoping!

 

[wideeyes]

I want be getting any before we go in May so hope it goes up a bit or at least not get any worse.

 

[LJP]

I fear it will continue to slide. The announcement today did it no favours at all and if we do indeed go crashing into the recession, then who knows what will happen

 

[jmagla]

The pound is certainly plummeting, I bought some last night at $1.758 for delivery in 41+ days through Crown currency, the same rate this morning is $1.65!!! , frightening.

I saw a long range forecast a month or so ago that said it would drop to $1.65 by the summer, that is obviously well off the mark.

Like several others, I have some left over from the last visit at over $2.00 but it looks like we may have to get used to exchange rates well below what we have become accustomed to over the last year or so.

 

[tjwk]

i have just been to my local thomsons and for $150 is cost me £102

 

[jockey]

I reckon it will creep up slightly between now and early next year. Dont reckon it will get to $2 to the ££ but reckon at least $1.75

 

[disneyholic family]

The pound is certainly plummeting, I bought some last night at $1.758 for delivery in 41+ days through Crown currency, the same rate this morning is $1.65!!! , frightening.

I saw a long range forecast a month or so ago that said it would drop to $1.65 by the summer, that is obviously well off the mark.

Like several others, I have some left over from the last visit at over $2.00 but it looks like we may have to get used to exchange rates well below what we have become accustomed to over the last year or so.

it's not that the pound is plummeting....it's that the dollar is strengthening....not just against the pound....it's strengthening against many currencies....i haven't checked the euro, but the ones i checked, the dollar was up against all of them...

 

[jmagla]

i have just been to my local thomsons and for $150 is cost me £102

Isnt that only $1.47 to the pound?, havent seen it that low anywhere else.

 

[jmagla]

it's not that the pound is plummeting....it's that the dollar is strengthening....not just against the pound....it's strengthening against many currencies....i haven't checked the euro, but the ones i checked, the dollar was up against all of them...

I stand corrected (you sound just like my Dad )