pompeywill

Finally took the the plunge with HIFX.
Got a forward contract at a rate of 2.54.
I am happy with that but I notice the rate is already up to 2.56! Doh!
Something to do with gold in China.

Olive101

This sounds very clever.

Being a little dim on such things - does a forward contract protect you from adverse exchange rate movements but conversely prevent you from benefiting from the opposite?



If so, where do you go to get such a thing? UK high street banks?

Would be very useful to know for when we transfer the equity released on the sale of our house....

Thanks.

debsy

You lucky thing we jumped on the bandwagon too quick and only got 2.505 anyway better than a poke in the eye. Some of the poor peeps on here only got 2.3:scared: :scared: :scared:

Larissa

Let's hope it holds... we're waiting for the bond request, but only sent off the police checks this weekend.

pompeywill

Yup, you just about summed it up perfectly.
Basically if your happy with the rate you can buy your dollars in advance with a 10% deposit. This price will then be held for a year.
Of course we could end up worse off but at least we know how much we have to spend.
try this http://www.hifx.co.uk/index.asp