The exchange rate gamble-----FOA ALL BRITS

[gingerwolf]

After getting 2 different answers from 2people in my life i thought i would throw this out to you guys.

 

With the exchange rate at nearly $2.10 to the £ should i get my dollars now, after all its at the highest for years/

 

My mother suggested getting some dollars and to search the net for the best rate, my girlfriends dad said that i should wait as the rate could increase as the US credit crunch worsens and effects the market.

 

What would you do, ? i travel in feb.

[sveipe]

After getting 2 different answers from 2people in my life i thought i would throw this out to you guys.

 

With the exchange rate at nearly $2.10 to the £ should i get my dollars now, after all its at the highest for years/

 

My mother suggested getting some dollars and to search the net for the best rate, my girlfriends dad said that i should wait as the rate could increase as the US credit crunch worsens and effects the market.

 

What would you do, ? i travel in feb.

 

Anybody that could answer that question would be a millionaire, you cant time the market. However, if you do it now, at least you know what you get. And it would be a pretty sweet deal. If you wait you don't know, it could go down further or it could swing back up.

[Floflegs]

We got ours last week for February.

[Stevesan]

After getting 2 different answers from 2people in my life i thought i would throw this out to you guys.

 

With the exchange rate at nearly $2.10 to the £ should i get my dollars now, after all its at the highest for years/

 

My mother suggested getting some dollars and to search the net for the best rate, my girlfriends dad said that i should wait as the rate could increase as the US credit crunch worsens and effects the market.

 

What would you do, ? i travel in feb.

 

Father knows best!:p

[English muffin]

Hi Gingerwolf

You wont get 2.10 exchange rate in Uk unless you pay a commission, if you use your credit card for US dollars you will get a decent rate but will be charged for it. The best rate I get in england without any further charges is from Travelex Uk you can order on line and pick up at the airport, unless travelling from Manchester Travelex is now close. The new exchange is now Thomas cook which gives a poor rate. Travelex at the moment is 2.002 which is good, they give excellent service and it is easy to order on line. We travel from Manchester to Heathrow and they will even let you pick it up air side even when you order land side. Dont get the dollars at the airport in USA the rate is much less. Pay as much as you can with your credit card you will always get a good rate we have just returned from US and the rate was 2.05 my credit card company do not make any charges. Hope this helps. If unsure go onto Travelex each day it will give you the current rate of exchange for that day.

[phillipahain]

If you often go to the USA consider

 

Opening a Dollar Account with Cater Allen ( private bank offshoot of Abbey National ) .......you will get interest tired to how much is in it and you get Commercial rate of exchange .......no commision

 

You can transfer sterling anytime to it and you can have a credit card for it so that in the USA you can use it in stores etc etc

 

If you use it to pay your Princess onboard account ........settle it the night before by a MANUAL SWIPE then there will be no mucking about with them converting your onboard account to sterling

[cjpj]

I would by some now and some later! Canadians have the same dilemma - our dollar hit an all time high against the US dollar this week. I've been buying some US dollars every time it hits a new high for our cruise in January. You never know if it's going to drop. For our cruise in 06 the dollar had been going up -- and I didn't buy any. Two weeks before our cruise there was a monetary policy change and I lost out!

Cindy

[Johnnyflatstick]

It is a safe bet to wait....not much incentive for the US government to make moves to reverse this. Most analysts predict more tough times for the dollar. SO likely you will not lose anythng by waiting.

[jay44]

I've been buying dollars since the summer for my Panama Canal cruise later this month, and I have also started buying dollars for my Alaskan cruise next year. The dollar has gone up slightly since the summer but not much.

[britsbest]

1) I bought as soon as it hit 2 in Mand S. I dont go till April and I know I am losing interest till then but we all like to feel like we get a good deal?

 

2) Make sure you get the right credit card to use in USA. You need one that does not apply a charge to use abroad eg Nationwide.

 

3) Make sure you tick the box on the embarkation form that indicates you want your card charged in $US otherwise Princess charge 3%.

 

In the big scheme of things you make or save very little but as I said we all like to feel like we got a bargain eh?

[nijh]

There's a lot of talk about the US economy, but don't forget the UK economy. UK interest rates are tipped to go down next month (they were expected to drop this month but didn't). If that happens then the UK is less of an attractive place to invest and the £ will be affected, thereby losing value against all currencies - including the $. In the grand scheme of things it probably won't affect it much, and it would probably recover if the US problems continue. I've bought a few $ for my trip in Jan as I always said if it hit $2/£ in the shops then I'd get some.

 

As Britsbest said try M&S for a good rate - I got 2.0160 yesterday, and don't forget that Nationwide credit card - I was getting $2.05+/£ back in September for internet purchases, when it was still around $1.96 in the shops.

[ourlol]

In the past, when we have booked a cruise using a Travel Agent from the USA, we have always closely monitored the exchange rate. When in our favour we have always paid off some of the balance ahead of time i.e. before the final payment falls due. That said we rarely pay it off in full ahead of time, just in case there is a drop in fare.

 

We also use a Nationwide credit card so for us it is a win win situation.

 

Laura

[saltiregirl]

We travel in March and I have opened a Lloyds TSB travelcard and just load some dollars onto it when it goes to $2 or over.

It is also a VISA card and can be used to pay your onboard account etc and you are able to withdraw £250 a day at ATM's.

[gingerwolf]

some great tips there, especially the paying the onboard account in dollars so not to get charged 3%

 

cheers guys.

[pretenda]

Get them now - and get some more just before you go if it's still a good rate. We've been buying since it hit 2 as we travel to the US quite a bit. Also - take the Nationwide CC - doesn't cost anything for conversion. And - remember to tick that box - and remember to ask at the Pursers desk a couple of days before you disembark to ensure they've got it right - as they won't be able to correct it once the final invoice is produced. Phew!! Happy cruising - our next one is in January - can't wait!:) :)

Glenda

[Cosmic Rays]

Get them now - and get some more just before you go if it's still a good rate. We've been buying since it hit 2 as we travel to the US quite a bit. Also - take the Nationwide CC - doesn't cost anything for conversion. And - remember to tick that box - and remember to ask at the Pursers desk a couple of days before you disembark to ensure they've got it right - as they won't be able to correct it once the final invoice is produced. Phew!! Happy cruising - our next one is in January - can't wait!:) :)

 

Glenda

 

I agree, buy now!! We haven't had it this good for years now and it makes a change for the "boot to be on the other foot" !! I too have a Nationwide CC used just for holidays and I also ticked the box in the Summer on the Star Princess and it worked - it doesn't though for all I gather. Pay day is Thursday so I'll be off to buy more then for our cruise in January on the Emerald..........

 

Colin:) :)

[laktex]

Paid my onboard account mid October with a certain card that does not charge commission and got 2.047. $/£