PoppetUK

Best its been for a few weeks who's trading now?

Simba

We are due to complete on our house sale in the UK in a couple of weeks so hoping the rate will keep rising.

I looked at it yesterday and it was 2.30 in the morning but 2.36 in the evening.

PoppetUK

It's moved a lot in the last day. When we arrived in march it was 2.42 and I had heard that it had been 2.5 so wasn't in any rush to change everything. Then it slumped a bit.

Just been on the phone to Ozforex after seeing the headline about the markets dropping globally on the bbc website. The guy said he doesn't see it going down to 2.32 today but might be worth waiting until the New York market opens up.

Any views?

chippie74

i dnt want to sound thick but whats (inter bank) i have been looking at the exchange rate every day and a few hrs ago it was 231.99. we fligh out in 4 weeks and i want the best deal possible...cheers

PoppetUK

The exchange companies use the interbank rate to calculate the exchange rate for the customer. For example we use ozforex to exchange our money. If the interbank rate is 2.37 ozforex will give us 2.36 (maybe a fraction more). The more you have to exchange the less they take in general. If you were to go to a bank you would get a lot less for your money so when changing up large amounts most people use the likes of hifx or ozforex. I am sure someone can put this into professional speak but until such time thats my idiots guide.

chippie74

cheers!!!!! i have done all the form filling for oxferex..just the interbank thing!!! just thought it was another company..dohhhh!!