We're off travelling in South America next year and I heard on the radio the other day an analyst say that the UK £ is likely to be down to around £1.5-$1 or less by the end of next year.
Do you think it's worth buying loads of dollars now? It could save us quite a bit of cash if the value does fall.
Any help/advice gratefully received!
Reply to this Hi Benito,
I think the pound will need to devalue itself as the credit crunch continues to kick in. I am of to America in late November and I bought my currency a few months ago when it was 1:2 exchange rate. Now it has come down to 1:1.7 so a good buy for me. The collapse of Lehman Brothers should help make the pound stronger against the dollar so I would try and buy your currency in the next few days. I work for a travel company who sells UK tours to the Americans so actually we are pleased the exchange rate has come down as it makes it cheaper for them to come over to the UK.
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