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Topic: Slumping Pound

  1. #1
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    Default Slumping Pound

    This was on TravelMole this morning, indicating that some currency exchanges are getting close to 1:1 for the pound against the dollar at airports. As well as underlining the folly of waiting until the last minute to get your currency, it does still inducate a disturbing trend, post-Brexit, that is going to hurt a lot of people:

    Published on Friday, December 14, 2018
    Currency shock for travellers heading off for Christmas

    Tourists exchanging money at UK airport foreign exchange outlets as they set off on Christmas breaks are barely being offered one dollar for each pound, according to the BBC.

    It blamed ongoing uncertainty around the Brexit negotiations for sterling's 11.77% slide against the dollar since April.

    Sterling has also fallen heavily against the euro, with some forex outlets offering only 92 cents for every pound.

    The pound is now at its weakest against the dollar since April 2017, although the BBC said it has recovered slightly this week since Prime Minister Theresa May won a vote of confidence from fellow Tory MPs.

    A little over 10 years ago, the pound was worth more than $2, but this week tourists exchanging money at Heathrow were getting as little as $1.05.

    While other factors such as low interest rates are partly to blame, the BBC said experts accepted that Brexit was the main reason for the collapse of the pound.

  2. #2
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    Tell me about it, I've got to pay Flikr soon for a pro account because I have so many pictures for my trip reports on their site and they want dollars. We've also got to get our park tickets for LA when they go on sale next year and the rates will probably be worse by then.
    5 Trips to Florida, Christmas in LA, Disneyland Paris twice and odd days here and there.

    All my trip reports are now HERE.




  3. #3
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    It certainly makes grim reading, but who leaves getting their currency until the airport???
    91/92/95HI MGE;97NYC/Cali/Ariz/Chicago;98St.Petes Bch/Hyatt K'mee;00C'water Bch/Dixie Landings;02South'n Dunes;05Ft.Myers/Keys/Ft Lauderdale/BW LBV;06Indian Ridge;07Ind. Ridge;08Sanibel/Ind. Ridge;09Sarasota/Ind. Ridge;10Sanibel/Ind. Ridge;11Ind. Ridge;12Sanibel/West Haven;13West Haven;14Sanibel/West Haven;15Sanibel/West Haven;15West Haven;16Panhandle tour/Ashley Manor;16Loma Linda;17Sanibel/Loma Vista;18Gulf Coast/St Ag/West Haven;19Sanibel/Venice Beach/West Haven

  4. #4
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    Yes, that's definitely a rookie error, TF, especially for a 2 or 3-week holiday in the US that most people book months (if not years!) in advance. But I think it's still a worry when the forex rate at the airport gets THAT low. For that, we all have Brexit to thank, and the utter incompetence of those in charge of it, sadly. There is no escaping their inadequacy right now

  5. #5
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    I know it may sound harsh but i don't have a lot of sympathy for people who leave it until they get to the airports to change money. My exchange rate in London is offering $1.24 for the dollar and E1.10 for Euros, not great but a lot better than the airports are offering, https://www.bestforeignexchange.com/...ange-rates.php


    A little less but the Currency Exchange Corp who have loads of outlest around the UK will deliver dollars to your door and are offering almost $1.23 https://www.cecltd.com/

    Even Travelex if you pre order and pick it up at the airport will give you $1.23 so i have no idea why anyone would leave it until the airport to buy their currency.

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