The Pound hits the 2 US Dollar mark

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The Pound hits the 2 US Dollar mark

#18859 by mitchja
17 Apr 2007, 13:22
Now's the time to go and spend in the US as today for the first time in many years the £ has hit the 2 US$ mark.

Todays exchange rate is 0.509684 so that means $100 equates to £50.97 :D

OK the tourist rate is not quite that high but Travelex are selling US Dollars at an exchange rate of 1.93 today.

Regards

#168008 by DWiles
17 Apr 2007, 13:37
Travelex where selling at 1.9303 yesterday so I guess todays hike has still to reach tourist rates.

There was a junmp in the value of the pound at 8:30 this morning which i presume coinsided with announcement of high than expected inflation figure so making the likely hood of a rise in BoE lending rate.

Yiippppeeeee [^]:D Off to states in three weeks and the morgage is on a fixed rate[:p]

#168010 by Bean Counter
17 Apr 2007, 13:40
You know, this prompts a question in my mind. If one were doing a UK - US route regularly, I wonder if it is worth buying your ticket (say JFK-LHR-JFK) in the US. Take a hit on a single out to the US, then use the US purchased returns. Not done the math myself, but you never know. Or maybe use a US agent, if one were to have a friendly one available, to purchase on your behalf. In a past company we used to do this with Euro fares and it seemed to work out well.

This leads onto my second thought - is there still a significant difference between UK and Euro fares? Is there any benefit in buying say a CDG-LHR-JFK-LHR-CDG fare and dumping the CDG bits, if you see what I mean?

#168012 by onionz
17 Apr 2007, 13:46
Inflation is highest in ten years, requiring the goverrnor of the BoE to write to Gordon to explain himself.

#168015 by fozzyo
17 Apr 2007, 13:48
Cool - its been hovering just under for quite a while now. :o)

#168018 by Bean Counter
17 Apr 2007, 14:02
Originally posted by fozzyo
Cool - its been hovering just under for quite a while now. :o)
Hate to piddle on your chips, but you might find all you gain on your holidays with the $ rate is more than blown on your mortgage with the almost certain (opinion) interest rate increases we are facing.

#168021 by Scrooge
17 Apr 2007, 14:23
Great news..$2 for every pound [:#]

#168024 by pjh
17 Apr 2007, 14:43
Originally posted by Scrooge
Great news..$2 for every pound [:#]


Indeed. Just as my employer's dollar share price starts to rise from the doldrums and my eTrade account starts to sparkle....

#168025 by catsilversword
17 Apr 2007, 14:44
Originally posted by wood07
1.97 at http://www.tegforex.co.uk today


But individuals can't buy from there, can they? I used to think M & S were pretty good, as they use Travelex, but they seem to be trimming it back - their site is only (!) giving 1.919 - which it was giving yesterday. Plus, i bought some $$$ from them a couple of motnhs back, and got just over 1.92 - AND we didn't have $2 to the £1 then....

#168026 by Bean Counter
17 Apr 2007, 14:47
Consumer rates often lag commercial rates. Give them to tomorrow, or at least later today.

#168033 by pjh
17 Apr 2007, 14:58
Originally posted by catsilversword
But individuals can't buy from there, can they? I used to think M & S were pretty good, as they use Travelex, but they seem to be trimming it back - their site is only (!) giving 1.919 - which it was giving yesterday. Plus, i bought some $$$ from them a couple of motnhs back, and got just over 1.92 - AND we didn't have $2 to the £1 then....


Guardian article here about rates that suggests using the credit card may give the best rates - I use a Nationwide card abroad as they don't charge the 2.75% transaction fee, though they may be adjusting the exchange rate they use.

Speaking of bank practice, if you are tempted to use the Post Office for your fx, go in with cash. If you use a debit card - even a debit card from LloydtsTSB that is in a partnership with the Post Office - the bank will now charge you a fee as if you were getting the fx from them. B*st*rds.

Paul

#168038 by wood07
17 Apr 2007, 15:08
Originally posted by catsilversword

But individuals can't buy from there, can they? I used to think M & S were pretty good, as they use Travelex, but they seem to be trimming it back - their site is only (!) giving 1.919 - which it was giving yesterday. Plus, i bought some $$$ from them a couple of motnhs back, and got just over 1.92 - AND we didn't have $2 to the £1 then....


Yes - I've used them several times. Perhaps not as straightforward as say Travelex. You need to transfer funds direct to their bank account and they post the currency to you by special delivery the day funds are received.

#168045 by RichardMannion
17 Apr 2007, 16:36
Originally posted by pjh
Originally posted by catsilversword
Originally posted by wood07
1.97 at http://www.tegforex.co.uk today


But individuals can't buy from there, can they? I used to think M & S were pretty good, as they use Travelex, but they seem to be trimming it back - their site is only (!) giving 1.919 - which it was giving yesterday. Plus, i bought some $$$ from them a couple of motnhs back, and got just over 1.92 - AND we didn't have $2 to the £1 then....


Guardian article here about rates that suggests using the credit card may give the best rates - I use a Nationwide card abroad as they don't charge the 2.75% transaction fee, though they may be adjusting the exchange rate they use.

Speaking of bank practice, if you are tempted to use the Post Office for your fx, go in with cash. If you use a debit card - even a debit card from LloydtsTSB that is in a partnership with the Post Office - the bank will now charge you a fee as if you were getting the fx from them. B*st*rds.

Paul


The Audi Mastercard doesn't charge for foreign transactions either.

Thanks,
Richard

#168064 by stuart101
17 Apr 2007, 18:10
I managed to get 1.9950 from Barclays this afternoon.[|:)]

(but that was on a business acount and buying $50,000.00 at the time)!

#168069 by p17blo
17 Apr 2007, 18:26
Originally posted by Bean Counter
CDG-LHR-JFK-LHR-CDG fare and dumping the CDG bits, if you see what I mean?


Well I do know that you can't dump the outbound CDG bit at this cancels your flight. You could however dump the CDG return bit if you wish (And as long as your bags aren't checked all the way through)

Paul

#168072 by Wolves27
17 Apr 2007, 18:33
Marvellous, I'll now be able to afford one of the Residences at the Mandarin Oriental New York.... :D

Dean

#168087 by catsilversword
17 Apr 2007, 20:01
Originally posted by wood07
Originally posted by catsilversword

But individuals can't buy from there, can they? I used to think M & S were pretty good, as they use Travelex, but they seem to be trimming it back - their site is only (!) giving 1.919 - which it was giving yesterday. Plus, i bought some $$$ from them a couple of motnhs back, and got just over 1.92 - AND we didn't have $2 to the £1 then....


Yes - I've used them several times. Perhaps not as straightforward as say Travelex. You need to transfer funds direct to their bank account and they post the currency to you by special delivery the day funds are received.


So it sounds fairly secure...

#168128 by DragonLady
18 Apr 2007, 08:08

The Audi Mastercard doesn't charge for foreign transactions either.

Thanks,
Richard



Neither does the Post Office Mastercard.

#168536 by Paul H
19 Apr 2007, 23:39
Just out of interest, when my Mother and Father took us to Los Angeles in 1973, it was up near the 2.50-2.70 to the £. When we planned our Honeymoon in Hawaii(with my wife not my M&F)in 1985, it was almost 1:1!

#168552 by catsilversword
20 Apr 2007, 06:39
Originally posted by Paul H
Just out of interest, when my Mother and Father took us to Los Angeles in 1973, it was up near the 2.50-2.70 to the £. When we planned our Honeymoon in Hawaii(with my wife not my M&F)in 1985, it was almost 1:1!


I can clearly remember struggling to get above 1.30 to the £1 around 10 years ago....

#168711 by stars
21 Apr 2007, 01:02
Originally posted by Bean Counter
You know, this prompts a question in my mind. If one were doing a UK - US route regularly, I wonder if it is worth buying your ticket (say JFK-LHR-JFK) in the US. Take a hit on a single out to the US, then use the US purchased returns. Not done the math myself, but you never know. Or maybe use a US agent, if one were to have a friendly one available, to purchase on your behalf. In a past company we used to do this with Euro fares and it seemed to work out well.


It can be worth it to buy your tickets in the US, depending on your situation. I do it. DH & I are American expats so do fly the same route multiple times per year to visit family. As we generally have a period longer than 30 days between outbound and return journeys we can't take advantage of special sales, but for us when we have priced our tickets (PE) we have found the tickets to be cheaper when bought in USD, originating in the US. The key is that you must have a credit card with a US billing address. As we moved here from the US we also didn't have to take a hit on a single.

#168788 by AndyRabbit
21 Apr 2007, 16:36
Not just the Pound either - my Kuwaiti Dinar is now worth $3.47!

#169990 by Paul H
30 Apr 2007, 00:13
my Kuwaiti Dinar is now worth $3.47!

It`s a pity you haven`t got more than one then.:D

#170027 by stoneman
30 Apr 2007, 13:53
when I first came over to England in 1971 after decimalisation it was $4.50 to the £
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