Exchange Rate going Down?
#17
Account Closed
Joined: Jan 2006
Posts: 0
Re: Exchange Rate going Down?
The Canadian dollar is tanking, you can get a whole 0.53 GBP for 1 CAD.
Oh what fun it is to be in a country with monopoly money.
Oh what fun it is to be in a country with monopoly money.
#18
Re: Exchange Rate going Down?
Remarkably, until decimalization, the pound was divisible into 960 parts.
Last edited by Pulaski; Jan 24th 2015 at 2:59 am.
#21
Heading for Poppyland
Joined: Jul 2007
Location: North Norfolk and northern New York State
Posts: 14,453
#22
Re: Exchange Rate going Down?
[Pulaski, I did some Googling and realised that of course decimalisation came in when the florin was introduced in 1849. ]
#23
Re: Exchange Rate going Down?
Apparently farthing coins were withdrawn in 1961, though as far as I can tell prices sometimes went down to the farthing right up to decimalization.
I presume that like the old Italian lira, when groceries were priced down to 10 centesimi increments, but the smallest coin apparently in circulation was 50 centesimi, the there had to be some rounding involved.
I have on occasion tried to explain £sd currency to Americans. Explaining cricket is easier.
I presume that like the old Italian lira, when groceries were priced down to 10 centesimi increments, but the smallest coin apparently in circulation was 50 centesimi, the there had to be some rounding involved.
I have on occasion tried to explain £sd currency to Americans. Explaining cricket is easier.
Last edited by Pulaski; Jan 24th 2015 at 1:28 pm.
#24
Re: Exchange Rate going Down?
I think I've been fairly lucky with this. I transferred here in June when I was getting around 1.7 on the exchange so my employer based my $ salary ~1.8.
If I had moved now I think my US salary would have ended up a lot lower. When I google convert my US salary to GBP, it's a lot higher than it was when I left the UK.
If I had moved now I think my US salary would have ended up a lot lower. When I google convert my US salary to GBP, it's a lot higher than it was when I left the UK.
#25
Forum Regular
Joined: Apr 2014
Posts: 180
Re: Exchange Rate going Down?
It's called "volatility". Every liquid market has it.
The general consensus appears to be that the dollar will continue to strengthen. My guess is that it will stop its run-up somewhere between $1.40/£1 and $1.30/£1, during the second half of 2015. ....... The last time I made a major $/£ rate prediction, last August IIRC, for further strengthening of the £, I was proved wrong within days when the £ started to slide and has fallen more than 20c.
The general consensus appears to be that the dollar will continue to strengthen. My guess is that it will stop its run-up somewhere between $1.40/£1 and $1.30/£1, during the second half of 2015. ....... The last time I made a major $/£ rate prediction, last August IIRC, for further strengthening of the £, I was proved wrong within days when the £ started to slide and has fallen more than 20c.
#26
Forum Regular
Thread Starter
Joined: Jan 2014
Posts: 277
Re: Exchange Rate going Down?
Just a heads up for those looking to transfer, today's market rate for xe is $1.503 to the £..
#27
Forum Regular
Joined: Oct 2012
Posts: 111
Re: Exchange Rate going Down?
.............as soon as I (finally) got a decent offer on my UK house this happens to the exchange rate
I would actually have been better off accepting the lower offer that I got in October. Awh well, win some lose some. If the sale goes through I think I will probably leave the money in the UK until the rate drifts back up to 1.70.
I would actually have been better off accepting the lower offer that I got in October. Awh well, win some lose some. If the sale goes through I think I will probably leave the money in the UK until the rate drifts back up to 1.70.
#28
Re: Exchange Rate going Down?
At the moment there are several reasons that USD could strengthen further (growing economy, global instability), and a less rosy outlook for the UK and therefore the GBP.
#29
Re: Exchange Rate going Down?
I'd been getting on quite well with that task, then my Mam passed away last year. The estate is starting to pay out now, but since she died I've sat and watched the exchange rate slip from 1,70+ to current levels, and not been able to do a thing about it. Now I've got a much larger chunk in the UK than I want, but what to do with it? For various reasons, not least of which my residency, the investment opportunities over there are far more limited than they are here, so its a trade off - take the hit now and look to recover it through better investment returns, or leave it there and keep the fingers crossed. What to do, what to do.......
Last edited by Yorkieabroad; Feb 5th 2015 at 4:26 pm.
#30
Forum Regular
Joined: Oct 2012
Posts: 111
Re: Exchange Rate going Down?
My condolences for your loss Yorkie. One thing that does trouble me living here in the US is my parents aging back in the UK Anyway, I would like to wait for 1.7 before I wire money over, but looking at the historical rates it may be a quicker return to 1.6+
Historical Exchange Rates | OANDA
Historical Exchange Rates | OANDA