Another Look at Buying Sterling Travel Money Now
Wednesday November 12, 2008
A couple of blog posts ago, I suggested that, with the pound hovering at between $1.55 and $1.65, now might be the moment to salt away some British currency or British denominated travelers checks for a future vacation you're already planning.
A reader planning to visit the UK in 2010 wrote in to ask whether it was worth waiting for the pound to drop to £1.30. My initial - horrified - response was NO! I live here and I earn pounds so I view the whole question from a British perspective. I also cannot recall when the pound was ever that low.
But I am also not a financial expert and I was wondering what others think. Could the pound fall that low? And what would be the state of the world economy if it did?
I'm curious to know what you think so please add your comment below by clicking on comments. Or jump into the discussion in my forum by clicking on My Forum near my picture on this page.
Comments
Of course, there is no way to predict, but as of today, the rates are dropping even lower than 1.55; I can change at my bank as of today for 1.54. I’m tracking the rates daily, and based on the current trend, am planning to wait for it to drop a little further. I don’t think 1.30-1.40 is out of the question at this point, especially after the holidays, when things tend to slump a little anyway. But again, no one can predict. Good luck!