Seems the British Pound has been falling lately. A few months ago it was about half, not its 100.00 USD = 66.3532 GBP Which is getting better for me as I am visiting england in march. What is the reason for the GBP to start falling slightly?
credit crunch and interest rates being cut most likely!!! Its not as bad as the euro its not even worth goin to spain on holiday anymore £1= €1 not good
basically everyone has lost confidence in sterling, mainly due to our economy fairing alot worse than the US and other european economies, not helped when the chancellor says we're in tough times ... traders are dumping the pound for currency with a higher net value not really worth us going over to the eurozone anymore, just way too expensive .. best to stick to asia or the america's.
Not so much the weak pound (although it has weakened against the Euro too) but it's more the strengthening dollar. The dollar has gone up against virtually every currency out there. For years in Mexico it was 10 pesos to the dollar now it's 13.5, but you'll still get 20 to the £ as it has been for years. Anyway it's pretty cool if you get paid in USD and spend your money in pesos or save it back home in real money (£). Now they just need to put those interest rates back up so us savers get a better deal. Anxiously awaiting Bank of England announcement tomorrow, I'm sure interest rates will drop further.
down to the orginal 1 / 1.50% they reckon, maybe they will leave it as it stands if they see deflation is on the cards. Of course the banks won't pass any of this on to the consumers, except to cut rates of savers.
well I hope the dollar continues to strengthen so I get more pounds when I convert my money over before I leave for england! More is better! lol
interest rates just been cut by 50 points, so you can probably expect a few more pennies for your dollar when you come over
Whereabouts in England are you visiting, CollegeGuy, I mean EngineerGuy :wink: (not been on for a bit)
