dollars when to order them as exchange rate has changed.

S

shrek

Registered User
Messages
42
Hi
Just wondering as we are heading to America the end of March. When should I order dollars. I have to wait until the end of Feb but i know in recent days the dollar has dropped to around $1.20 so should I order this week or do you think it will get worse over the next week or two. ie. Can you see it declining even further it will hardly increase again?/
Thanks.
 
Its hard to tell really. On the site www.xe.com there are graphs and stuff of projected movement but it is only a projection and can be accurate as much as innacurate
 
The EUR / USD rate hasn't gone near 1.20 in the past few days. It has been around 1.35. To be honest unless you are getting a very large amount of cash the amount you save or lose is quite small.
 
Setup a custom graph on a site like xe.com to monitor fluctuational trends of currency
 
the current mid-term trend is that the EUR/USD is due to slip to the low 1.30's so would recommend to do it sooner rather than later. For larger amounts check out websites.
 
I need to get over a grand's worth of dollars for a trip to Africa...I assume I can just go into the bank and withdraw using my ATM card, or would I need to order in advance? Are banks better than bureau de changes? (do these even exist any more???) I presume traveller's cheques are also a thing of the past?
 
hi loukkcat, traveler's cheques are still about as far as im aware. You can do both, go to the bank in your local town or in africa at a bank but DO NOT USE BUREAU DE CHANGE or AIRPORT FX desks as you will get ripped off. 8% compaired to the interbank. the best places for retail currency is places like marks and sparks, or even a online company like crown currency (where you can get you dollars at a better rate as you have to pay for it now and they get the interest)
 
loukkcat said:
I need to get over a grand's worth of dollars for a trip to Africa...I assume I can just go into the bank and withdraw using my ATM card, or would I need to order in advance?
Click to expand...

Safer to book in advance

loukkcat said:
Are banks better than bureau de changes? (do these even exist any more???)
Click to expand...

In general, yes (to bank rates are better)

loukkcat said:
I presume traveller's cheques are also a thing of the past?
Click to expand...

No, but they are not as easy to redeem as they once were.
 
You must log in or register to reply here.
Menu
Log in
Register