Exchange Rate Today
Dec 12th 2008, 1:52 pm
#106
Country Member
Joined: May 2003
Location: Moved from Georgetown to Round Rock, Texas. 15 miles closer to civilization.
Posts: 936
Re: Exchange Rate Today
The exchange rate fall and the huge cut in interest rates has screwed me totally. A 30% reduction in the value of my UK pension and a 50% cut in the interest I get on the cash I have in the building society in the UK (which then loses another 30% on exchange) has seen my monthly income reduce by $900 a month which puts me below break even on my living costs.
Not a great time to be looking for a job but something has to be done.
Not a great time to be looking for a job but something has to be done.
Dec 12th 2008, 2:19 pm
#107
L2, GC, Surrey, OH, TX!
Joined: Aug 2007
Location: Surrey to Dallas (via Ohio)!
Posts: 6,363
Re: Exchange Rate Today
I had a pleasant suprise yesterday. I did a Bid on XE trade at the end of October for over 1.60. I didnt hear anymore about it so assumed it didnt fill. Then sat and watched it drop like a stone. However -n yesterday they emailed me to ask why i hadnt deposited the funds yet! so i apparently had my bid filled and can still go ahead with the trade! makes me 500-600 dollars better off than doing it now!
Dec 12th 2008, 4:59 pm
#109
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,966
Re: Exchange Rate Today
The exchange rate fall and the huge cut in interest rates has screwed me totally. A 30% reduction in the value of my UK pension and a 50% cut in the interest I get on the cash I have in the building society in the UK (which then loses another 30% on exchange) has seen my monthly income reduce by $900 a month which puts me below break even on my living costs.
Not a great time to be looking for a job but something has to be done.
Not a great time to be looking for a job but something has to be done.
Still at least my pension is more secure than a lot of peoples jobs and I am thankful for that consolation.
Dec 16th 2008, 5:22 pm
#110
BE Forum Addict
Joined: Sep 2008
Location: Bouncing between Canada and US
Posts: 2,512
Re: Exchange Rate Today
The pound is strengthening steadily!
£1 = $1.53
£1 = $1.53
Dec 16th 2008, 5:25 pm
#111
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,865
Re: Exchange Rate Today
Dec 16th 2008, 5:28 pm
#112
I love my brick!
Joined: May 2007
Location: Peachy
Posts: 9,304
Re: Exchange Rate Today
Agreed. The Pound is at its weakest ever against the Euro, and there are no signs that it is going to improve in the near future. As you say it's a rate cut that has caused a temporary dip in the Dollar.
Dec 16th 2008, 5:38 pm
#114
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,865
Dec 16th 2008, 6:26 pm
#115
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,865
Dec 16th 2008, 6:53 pm
#116
BE Forum Addict
Joined: Aug 2004
Location: Tampa, FL
Posts: 3,338
Re: Exchange Rate Today
Ha yes, was just reading http://online.wsj.com/article/SB1229...googlenews_wsj
Now there really is no more rate left to cut!!
Now there really is no more rate left to cut!!
Dec 16th 2008, 7:23 pm
#117
BE Forum Addict
Joined: Sep 2008
Location: Bouncing between Canada and US
Posts: 2,512
Re: Exchange Rate Today
At the end of the day all I see is that I get more 'buck' for my 'quid'! 
Dec 18th 2008, 2:02 am
#118
Just Joined
Joined: Dec 2008
Posts: 3
Re: Exchange Rate Today
There will definitely be further interest rate cuts from the UK and with the USA rate having nowhere else to go it can only mean the Pound will weaken even further against the dollar.
Dec 18th 2008, 2:07 am
#119
BE Forum Addict
Joined: Sep 2008
Location: Bouncing between Canada and US
Posts: 2,512
Re: Exchange Rate Today
Well, it's currently $1.55 to the £. Strength is creeping slowly up at the mo'.
Will see though.
Will see though.
Dec 18th 2008, 2:41 pm
#120
BE Forum Addict
Joined: Oct 2004
Location: The Big Apple
Posts: 1,834
Re: Exchange Rate Today
The exchange rate fall and the huge cut in interest rates has screwed me totally. A 30% reduction in the value of my UK pension and a 50% cut in the interest I get on the cash I have in the building society in the UK (which then loses another 30% on exchange) has seen my monthly income reduce by $900 a month which puts me below break even on my living costs.
Not a great time to be looking for a job but something has to be done.
Not a great time to be looking for a job but something has to be done.