I have recently returned from working abroad, and now all my money is in Dollars. Do I wait and see if the exchange rate improves or just cut my losses and change it now. Will the Dollar improve to the levels we saw in March/April, (1.73), as oppossed to now (1.90) the difference of a few hundred Pounds in my case!
2006-08-28 22:00:15 · 8 answers · asked by Mark W 1 in Business & Finance ➔ Other - Business & Finance
I work on the stock exchange and I've been carefully watching the dollar exchange rate for a while. I had plans to buy say £200 worth while they were low then wait for an increase to make some easy cash. However, there have been no real signs of an increase in the past 2/3 months, so I have scrapped that plan.
The instability of oil prices caused by the Israel-Lebanon conflict (and Alaskan oil problems), the hurricane season, Bush's low approval rating and a general feeling of uncertainy in American markets are keeping the dollar low. On the hurricane point, this season looks like being the mildest in years, so that confidence could possibly raise the dollars' value.
I'm sure it will rise at some point in the next 6 months, so the real question is how long can you wait to change it back? I'd convert back into pounds if and when you need to, bit by bit.
Perhaps you could convert it into pounds and put it all into a high interest account, with time you might get a fair return, especially if the Bank of England raise interest rates again.
Hope this helps
2006-08-28 22:14:07 · answer #1 · answered by Anonymous · 1⤊ 0⤋
many times I used to apply a 2.5 AUD to a million GBP replace fee yet over the final 12 months or so it has fallen to easily above 2 AUD to a million GBP. Mid July observed a low of two.04 while into August it has risen to 2.10. The Australian economic device is ever recuperating so i might think of that it would fall going forward because of the fact the united kingdom looks hitting an economic device slowdown. inspite of the undeniable fact that a number of factors affecting the united kingdom economic device additionally are hitting different international economies. If i grew to become into to predict i might think of the British Pound might proceed to fall ever so slighlty against the Aussie greenback according to threat hitting 2 AUD to a million GBP on the backside over the appearance months.
2016-11-06 00:30:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Dear Mark W,
I hope the dollar improves.
I am answering this question in hopes that there will be other informative answers that I can then return to, read and learn from.
Hope you enjoyed your stay abroad and here's wishing some nice things happen for you now that you are back home.
Sincerely,
Karma doll
(Thank you Monocracy_UK for a most informative answer .)
2006-08-28 22:13:44 · answer #3 · answered by karma doll 2 · 0⤊ 0⤋
I dont know, but Im British going to the states on Friday, its awesome!! $2000 for just over £1000, half price fuel, might do some shopping.
2006-08-29 03:53:57 · answer #4 · answered by Jon R 1 · 0⤊ 0⤋
It is possible at present.Any how Good luck
2006-08-28 22:07:33 · answer #5 · answered by king 4 · 0⤊ 0⤋
hope it does, otherwise their export is cheaper, import is dearer.that means we buy more but sell less.
2006-09-01 02:59:55 · answer #6 · answered by Anonymous · 0⤊ 0⤋
no i dont hhink it will, it will probably get close though.
2006-08-28 22:03:01 · answer #7 · answered by jame_football 5 · 0⤊ 0⤋
No
2006-08-28 22:16:36 · answer #8 · answered by pearls3212 4 · 0⤊ 0⤋