Smashing through the doubts of a fortnight ago, the Pound crashed through U.S. Dollar this morning, hitting a massive $1.5447 – the highest it has been for three months! The Euro fared no better against Sterling either, as the Pound shot up to €1.194, marking a truly fantastic rise in strength for the British currency.
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Falling Unemployment Boosts Pound
July 14th, 2010
After a dubious start to the month, in which the Pound plummeted from €1.23780 to €1.19169 in 10 days, the last couple of days has seen a slight increase in the strength of Sterling. Newly released figures suggest part of this recovery may be down to rates of unemployment, which fell by nearly 21,000 in June; not quite as big a drop as we saw in May, but another very positive step for the UK economy. (more…)
Recession Continues To Hold Pound Down Against US Dollar
July 12th, 2010
After an impressive leap from $1.48967 to $1.52009 in around 36 hours at the start of the month, where it stayed for around a week, the Pound has starting to decline against the US Dollar again – back to $1.49743 at 09:15 this morning.
(more…)
US Dollar Exchange Rates Falls – Perfect Time to Holiday in LA
July 1st, 2010
The US dollar has weakened recently taking losses against the euro and the pound as investors gain confidence in eurozone economies.
Reports are expected to reflect a further decline in the US economy which would mean the pound is expected gather even more momentum against the US dollar. This is great news for travellers wanting to get the most out of their travel money.
With flights to the USA going for as little £350 return to Los Angeles, now is a perfect time to head off for a holiday in sunny California. From Malibu to Laguna Beach, the west coast offers some of the most beautiful beaches and coastline to explore.
Beverley Hills offers the most stylish shopping LA, with numerous designer shops and trendy to-be-seen-in restaurants. And don’t forget a trip down Rodeo Drive.
At the moment £100 will get you $145 USD in travel money which can go a long way, even in Beverly Hills. For those on a tight budget, it’s well worth it to shop around and look at package deals on offer where significant savings can be made.
Euro Goes Further
June 30th, 2010
The recent budget announcement has strengthened the pound after a long lull. At the moment, £100 will get you €118. This is extra good news for travellers going to Europe, as travel companies advise that the pound’s spending power has vastly improved in many European countries.
Travellers are now able to enjoy a nice meal out for two for only €16 in the Algarve or Spain. This time last year, it would have cost almost double. Overall, there has been a price reduction of 40% for European countries, including Spain and Portugal as they compete for tourist trade.
Products including alcohol, toiletries and petrol are also considerably cheaper than the UK.
Austria currently has low petrol rates of (€1.15) per litre, while Latvia is enjoying some of the lowest prices in Europe with current prices set at €1.06 for a litre of unleaded petrol. It’s worth pointing out if you go to Latvia (or any country outside the eurozone) to bring plenty of Lati with you as some petrol stations insist you pay with local currency for petrol and some don’t accept UK credit cards at the pump.
Football Supporters – Get rid of your leftover Rand
June 29th, 2010
If you were fortunate enough to fly out to South Africa to follow the football, chances are that you will be arriving home today for all the obvious and painful reasons.
Since your holiday was cut so short, you may also have quite a bit more Rand leftover than you expected. Rather than leaving your foreign currency hanging around your home (waiting for that next trip to South Africa that may never happened), why not exchange your foreign currency for Sterling. No need to have a painful reminder of England’s defeat in the form of leftover Rand poking out of a drawer every time you open it!
Follow a few simple steps and receive your GBP posted to your home in just a couple of days.
While you are at it, it’s a good idea to have an extra look around your home to see if you have any other leftover foregin currency hanging around, (Euros from England’s defeat before last in Germany perhaps)? Apologies for mentioning Germany…
The Impact of Public Debt on Exchange Rates
June 29th, 2010
Debt is integral to both businesses and economies, but must be closely managed to prevent it having the disastrous consequences we have recently experienced. By borrow large sums of money, countries can afford to invest in massive public projects, which normally has a positive impact on their national economy. However, the greater a country’s debt, the faster inflation is likely to rise and hence the repayment of the debt will be in a currency of lower value. For this reason, foreigners are less likely to invest in the currency of a country with high debt, therefore the exchange rate of that currency will fall.
Interest, Inflation and Exchange Rates
June 28th, 2010
High levels of inflation within a country are typically associated with the weakening of the value of that country’s currency against that of its trading partners. This is because any money invested in the currency is likely to lose value as interest levels cause the currency to depreciate. This lack of investment interest can cause exchange rates to drop. However, high levels of interest are often accompanied by high interest rates as well, which have the opposite effect – typically causing exchange rates to rise!
Cash-in Your Left Over Foreign Currency
June 23rd, 2010
It is estimated that UK travellers fail to convert back over £800m in unused currency.
According to online agent, Sunshine, over 90% of travellers arrive home with an average of £24 in left over foreign currency. A third of travellers say they simply cannot be bothered to convert their money back, while over 47% say they will keep it for their next holiday. However, a large percentage of those planning to use their foreign currency on their next holiday admit they forget to take it with them.
Exchanging currency back to GBP, especially with the ubiquitous Euro, can seem like a waste of time, but this all adds up and after just a few holidays. Travellers can easily find themselves with £100 in unused travel money sitting at home going to waste.
Maybe now is a good time to rummage through your drawers at home and see what you can come up with.
Taking advantage of an online Buy Back service couldn’t be easier. Your currency will be processed and a cheque sent out to you by post on the very same day it is received.
Money Transfer Thailand
June 22nd, 2010
Transferring money  from a UK bank account to a Thai bank account normally takes just a couple of days when you make an international money transfer (IMT).   It’s the easiest and most secure way to send money to almost any destination around the world.
The best way to avoid unnecessary bank charges and wasting time to transfer from GBP to THB (Thai Baht), is to complete a transfer form online. With just a few straight forward easy steps, you can set up your account online. Whether it’s to send a one off payment to a loved one in Thailand, who needs to top up their funds, or for regular transfer payments, you will find the whole process very easy and convenient.
With no maximum or minimum transfer restrictions in place, you can send as much or as little currency as you wish, as often as you require. Ordering your Tahi Bath online ensures that you receive the most competitive rates around in just 48 hours.
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