Exchange rate warning

[Norfolk Brit]

According to financial experts over here, the US dollar is set to sink yet lower against the pound sterling; predictions are that by the end of the summer 1 dollar will equal 2GBP.

 

Great news for us (but not for our tourist industry); not so good for US travellers to the UK. May be worth checking predictions in the US and buying sterling now.

 

Mary

[SamanthasDad]

1 dollar will equal 2GBP.

So if a pint of Stella costs $3.95(USD)

http://boards.cruisecritic.com/showpost.php?p=6385403&postcount=8

 

Then that would be £7.90(GBP)

 

I had better start doing some overtime :) .

 

We are on the QM2 on 15th June. Hopefully $2 to £1 happens sooner rather than later.

[Norfolk Brit]

So if a pint of Stella costs $3.95(USD)

http://boards.cruisecritic.com/showpost.php?p=6385403&postcount=8

 

Then that would be £7.90(GBP)

 

I had better start doing some overtime :) .

 

We are on the QM2 on 15th June. Hopefully $2 to £1 happens sooner rather than later.

 

Sorry, I really shouldn't be allowed out on my own. What I meant to say was 2US dollars are predicted to equal 1GBP.

 

Good news for your Stella; in the space of 10 minutes it has gone down to £1.98.

 

Regards, Mary

[ocngypz]

Any one remember when it was $2.40 to 1 GBP???? I do! But then my room at the Strand Palace was just over 6 GBP!

 

The year, 1968.

[mufi]

Yes, I do. We had some magic holidays on the US West coast around that time and later when the rate was similar. Couldn't afford not to really.

 

I could feel sorry for American visitors to UK, but then I think of gas at $3 a gallon. We could do with some of that.

 

David.

[tabascored]

Do local UK merchants accept US dollars or only GBP? Is it better to pay with credit card or cash? We are spending a few days in Southampton before leaving on our crossing. Having never traveled abroad, BVI only where they seem to love $$, I could use some suggestions as to what is the better way to pay.

 

Thanks

 

Sue

[ocngypz]

British Pound Sterling. Some vendors (especially those dealing in tourism such as private car transfers) do accept Euros.

 

US dollars.... no!

 

You can order foreign currency through your bank.

[signman]

Sue, here's what it means. On my last trip to the UK, the exchange rate was close to 2/1. So for dinner I was spending the US cost of a fine steak, only they were serving me chicken kabobs.

[Bollinge]

Do local UK merchants accept US dollars or only GBP? Is it better to pay with credit card or cash? We are spending a few days in Southampton before leaving on our crossing. Having never traveled abroad, BVI only where they seem to love $$, I could use some suggestions as to what is the better way to pay.

 

Thanks

 

Sue

 

The BVI is our little colonial outpost next to St. Thomas, and in fact the US dollar is the currency there.

 

You would get very short shrift in 99.9% of places in Britain if you tried to pay in anything other than pounds Sterling!

 

Credit cards are accepted everywhere (less so with Amex), but the best way is just use your debit card in an ATM and withdraw cash as required.

[JLC@SD]

According to financial experts over here, the US dollar is set to sink yet lower against the pound sterling; predictions are that by the end of the summer 1 dollar will equal 2GBP.

 

Great news for us (but not for our tourist industry); not so good for US travellers to the UK. May be worth checking predictions in the US and buying sterling now.

 

Mary

Right now 1 dollar equals 0.5327 GBP

http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=GBP&submit=Convert

[pnhmrk]

You would get very short shrift in 99.9% of places in Britain if you tried to pay in anything other than pounds Sterling!

 

And that 0.1% would say "Ah, A Yank, let's fleece him" and offer you a dreadful exchange rate (say 3.00USD to the £1.00).

[pisces1]

I know you meant no harm in your question about whether UK accepts US currency, but I just don't understand (I am an American), why Americans just expect that the world revolves around our systems and ways of doing things. Before you travel abroad, pay the visiting nation some respect and learn some of their customs and practices and heck even learn some words in its foreign tongue if its language differs from ours. I applaud you for asking the question and thus being informed. I guess I just wish the question never had to be asked.

[pepperrn]

Do local UK merchants accept US dollars or only GBP? We are spending a few days in Southampton before leaving on our crossing.

 

Thanks

 

Sue

 

Unlike others I praise you for asking this question openly. This is how we all learn esp. before travelling abroad, by asking for information. I would hope that when I ask simple questions I get a sympathic answer.

 

In parts of the world the dollar is a very acceptable form of payment in shops etc.. In Europe it is not. It's simple economics. If your currency is worthless you want the (relative!) stabilty of the dollar with which to buy things and so will try your hardest to get them off tourists. However, in the UK the GBP (and in (most of) europe the EURO) is strong with low inflation and therefore there is no financial gain in obtaining dollars. This is also true in many other areas of the world.

 

Very few places in the UK even take Euros, those that do are mainly in very tourist areas or airports. Elsewhere you'd get a very strange look if you offered them. As for dollars, they'd either laugh at you or rip you off (as has been pointed out).

 

When I was younger I was always told to take dollar travellers cheques with me as they were the best. I'm sorry to say that's no longer true.

 

Hope this helps, please really enjoy your time in the UK, what are you planning to see? And have the very best time on QM2.

 

Good luck Sue.

[pisces1]

Pepper-

 

It is also true in many areas that do take dollars that they can take more from you since you may not be aware of the the exchange rate for the local currency. This has been oh so apparent in many places especially for cruise line passengers who only spend several hours at each destination. For example, even though I knew I was only going to be in the Dominican Republic for 8 hours, I knew what the going rate was. It was astounding what the locals were asking for in US currency. Even our restaurant bill was shown in both currencies and we would have paid double if we had paid in dollars. And please read the post thoroughly, I gave credit to the poster for asking the question. Too many people on this board give their opinion in haste without truly reading and understanding what other participants have shared.

[guernseyguy]

The exchange rate between the $ and the £ started at $4.55 in 1791 - rising to $3.82 in 1812 (must have been the paint bill for the White House) - and stayed between $4.50 & $5.00 until the Civil war when it fell as low as $9.97 in 1864. Settling back to around $4.50, wobbled a bit post WWI, then settled at $4.00 to the end of the 1940s....when sterling's descent set in....$2.80 through the 1950s and early 60s - once the pound floated it generally sank.....as low as $1.30 in 1985 - now around $1.87 - and in the last year between $1.70 - $1.90 - so in the grand scheme of things - very minor wobbles....

 

Peter

[pepperrn]

The exchange rate between the $ and the £ started at $4.55 in 1791 - rising to $3.82 in 1812 (must have been the paint bill for the White House) - and stayed between $4.50 & $5.00 until the Civil war when it fell as low as $9.97 in 1864. Settling back to around $4.50, wobbled a bit post WWI, then settled at $4.00 to the end of the 1940s....when sterling's descent set in....$2.80 through the 1950s and early 60s - once the pound floated it generally sank.....as low as $1.30 in 1985 - now around $1.87 - and in the last year between $1.70 - $1.90 - so in the grand scheme of things - very minor wobbles....

 

Peter

 

Peter

Brilliant stuff, thanks for sharing. must keep a copy for reference.

 

Thanks

[travel-to-go]

I know you meant no harm in your question about whether UK accepts US currency, but I just don't understand (I am an American), why Americans just expect that the world revolves around our systems and ways of doing things. Before you travel abroad, pay the visiting nation some respect and learn some of their customs and practices and heck even learn some words in its foreign tongue if its language differs from ours. I applaud you for asking the question and thus being informed. I guess I just wish the question never had to be asked.

 

Hear! Hear! And "we" had the audacity this week to pass (in the senate, which is usually more level headed, respectful, and less rabid) a possible law declaring English our "National" language (Some English would dare say we don't SPEAK that language!) I have always said if you do not speak Algonquin, or at least Cherokee, don't tell me about any offical or national language of the United States. We are so ego-centric. In other countries most kids are bilingual from the time they start school! And we want a global economy and wonder why folks from other countries come over here and good jobs in high tech industries. People from Pakistan, India, Japan, even China, where they learn English almost when they started learning their native language and consider that a plus, come over here from countries where educaton is valued as a means to better oneself, while many kids today look with disdain on the studious kids in school. So we want to go to other countries and expect people to speak our language and take our currencies. I notice the "foreign" (to a US Citizen, anyway) people on our cruises, or even the folks from all over the world that I work with are so much more knowledgeable and worldy about so much more than me! And not just about their own countries and exchange rates, but others, too! Sorry.No offense to the OP of the question. And you have to ask, or you just don't know! We are so used to people doing things to accomodate us. And they usually do. It was a legitimate question, and I am sorry for latching on to your innocent question for my diatribe. It is not meant against you, or most of the people on this list ( or any, for that matter, that I am aware of, actually!)

 

Karie,

who gets a little upset at my fellow Americans some times... some of them... and am grateful for all of my wonderful world-wide friends who teach me so much, broaden my outlook and make my world a bigger place, while hopefully, making THE world a smaller, closer place!

 

Editing here- to add- I am sorry Sue. Pepper had the perfect answer. Yes, you were right to ask. It's how we learn, and people who ask are so much better than people who simply expect! Pepper's answer was so right on- I hadn't thought of it that way, but he's right! The Caribbean WANTs US dollars for the most part (Grand Cayman will take them, but the exchange rate is horrid! Their GC dollar is worth more than or US dollar OR the Caribbean dollar) because our money is more stable and worth more than most Caribbean Countries. Right now, Europe does not want US money. It is not trading as high as either the Pound or the Euro. On the other hand, Eurpoe was so used to dealing with many different currencies before the advent of the Euro. Most Americans wouldn't have the first clue, I'm afraid, in how to exchange money. (I'm afraid I am one of them, though I have done so a tiny bit.) Again. Sorry. This was not aimed at anyone here!

[ladymacwilly]

The British Pound is strong and the American Dollar weak and it's been that way quite awhile. Buy your pounds in advance of your trip, have them delivered to your door, escape the hassle of exchanging money first thing, and come out ahead a few bucks. I've come out hundreds od dollars exchanging money in advance by following the market. You don't have to exchange money just when you land...there are plenty of investors that play off this system. Be a smart traveller and play the same game. If the Dollar continues to fall, (which it is), exchange NOW.

 

Karie, You know what they call someone who speaks three languages?

Trilingual

 

Someone who speaks two languages?

Bilingual

 

Someone who speaks one language?

 

 

 

 

........................................................................................................................................................................

An American! :D

[pepperrn]

Karie, thanks

[KarenR_UK]

Do local UK merchants accept US dollars or only GBP? Is it better to pay with credit card or cash? We are spending a few days in Southampton before leaving on our crossing. Having never traveled abroad, BVI only where they seem to love $$, I could use some suggestions as to what is the better way to pay.

 

Thanks

 

Sue

 

 

We don't even accept all currency issued in Britain!

Notes\coins from the Banks of Northern Ireland (I think), Channels Islands etc are not legal tender, so will not be accepted. Similarly - Gibralter is a 'part' of the UK (though not the British Isles!) and will accept GBP, but we will not accept theirs (intentially ! - in most/all of the above cases the coinage is the same size and shape as the 'accepted ones', but with different signage so I sometimes end up with 'illegal tender' in my change without noticing :eek: )

 

Even Bank of Scotland Notes which are supposed to be legal tender are not always accepted.:D

 

I saw someone try to use Northern Ireland and Scottish notes over the weekend - they ended up having to pay with 'plastic' - If it doesn;t say Bank of England, most shops/people just don't want to know!

 

Karen

[tabascored]

Thanks for all you answers. It really was a simple question, being ignorant on traveling abroad. I will exchange cash here in the US before we leave.

 

Pepper,

Our only definite plans are to go to Winchester and Portsmouth. The first of my husband's family who left Southampton in 1629 on they Lyon's Welp was from Portsmouth. He has a family tree from the time his ansector landed in Plymouth MA to the present. We thought we would try to get some information on the tree before 1629.

We may also go to Stonehenge. Depends on how may pubs get in the way. We have three full days and part of Friday to sightsee. We never have definite plans until we wake up and decide what to do.

 

Thanks again and we WILL enjoy our QM2 crossing.

 

Sue

[pepperrn]

Thanks for all you answers. It really was a simple question, being ignorant on traveling abroad. I will exchange cash here in the US before we leave.

 

Pepper,

Our only definite plans are to go to Winchester and Portsmouth. The first of my husband's family who left Southampton in 1629 on they Lyon's Welp was from Portsmouth. He has a family tree from the time his ansector landed in Plymouth MA to the present. We thought we would try to get some information on the tree before 1629.

We may also go to Stonehenge. Depends on how may pubs get in the way. We have three full days and part of Friday to sightsee. We never have definite plans until we wake up and decide what to do.

 

Thanks again and we WILL enjoy our QM2 crossing.

 

Sue

 

Sue

 

Winchester is great, so is Portsmouth, seen both many times esp Portsmouth, while there try to see HMS Warrior and HMS Victory and Mary Rose (all together in one place!). Good luck with the family tree.

 

Very best wishes.