Dougster

After returning from holiday with unspent dollars, how can I make them work for me now the £ has gained strength?

Can I buy a $ postal order cheque or similar in the UK or do I have to sit on my green backs till US economy recovers?

Whats the legality of sending amounts of cash by UK or US postal sevices?

Dougster

Off page one without a reply!!

Where's the power of SNet gone!!

imlach

Err.....just keep them in a drawer and wait until the dollar strengthens I would have thought...

...or are you wanting to earn interest on them?

Are we talking $k's?

imlach

Anyway, considered opinion is of the dollar weakning further, so why not just sell them now?

Could be a year or 18 months before it strengthens significantly again......

Dougster

But can I not purchase something from America with the cash?

See where I'm getting?

Neil Smalley

If you know anyone whos going to the US, why not sell them to them, at the same rate as they would have to buy at and with no commision. That way you both get more $'s

midget1500

hmmmm got me thinking now...

say u buy £5000 of USDollars then wait till the dollar drops from 1.85 down to say 1.5, deduct fee's etc - wonder how much you could make?

imlach

midget1500 - you'd be better using a spread betting site like IG Index to speculate with your £5000.

That way, you buy & sell at the spot rate with no commission barring the initial spread (18pts for near term rate (Mar 04)).

Edited for link


[Edited by Dougster - 1/10/2004 11:54:44 PM]

Dougster

It's only $1400.

I'm sure Bill aint worried about a takeover bid!!