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Topic: Exchange rate  (Read 258 times)

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Exchange rate
« on: October 11, 2019, 01:37:04 PM »
Bloody 'ell!!! (as one of my wife's sons likes to say). My monthly big chunk of money I've been moving from my retirement account to the UK comes to my US bank the morning of the 11th. Of course (bloody 'ell!!) the politicians have to do something positive  :o yesterday......and send the Pound rate up. I moved it this morning when it had only moved about 2 cents. It's up about 4 now. I lost about £300 on it going up 2 cents. You just can't worry about it........another 7 months or so and that account will be empty and my life gets a little less complicated. We really can't complain, when we decided to move back the Pound was a good $1.60. We moved a lot of money when it was in the upper $1.40's and we were heading this way. It's been about where it's at for quite a while now.....we consider ourselves pretty damn lucky (not smart....lucky).
Fred


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Re: Exchange rate
« Reply #1 on: October 11, 2019, 04:48:27 PM »
Same here Fred, we consider ourselves really, really lucky with the exchange rates.  I moved some over Oct 2nd at a rate of $1 -> £0.8152.  Not because I was smart but simply because the quarterly dividends were paid out and I needed the money for a big family trip next month.

However, I'd rather we got Brexit sorted with a deal than a continued low exchange rate.
Dual USC/UKC living in the UK since May 2016


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Re: Exchange rate
« Reply #2 on: October 11, 2019, 05:56:33 PM »
Bloody 'ell!!! (as one of my wife's sons likes to say). My monthly big chunk of money I've been moving from my retirement account to the UK comes to my US bank the morning of the 11th. Of course (bloody 'ell!!) the politicians have to do something positive  :o yesterday......and send the Pound rate up. I moved it this morning when it had only moved about 2 cents. It's up about 4 now. I lost about £300 on it going up 2 cents. You just can't worry about it........another 7 months or so and that account will be empty and my life gets a little less complicated. We really can't complain, when we decided to move back the Pound was a good $1.60. We moved a lot of money when it was in the upper $1.40's and we were heading this way. It's been about where it's at for quite a while now.....we consider ourselves pretty damn lucky (not smart....lucky).

Isn't it always the case, though? It's up today, could be cratered next week...  ::)


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Re: Exchange rate
« Reply #3 on: October 11, 2019, 06:12:06 PM »
Isn't it always the case, though? It's up today, could be cratered next week...  ::)

When we sold our house in England 30+ years ago the exchange rate was £1 -> $1.45 on the day of sale and since we didn't need the money immediately, and we could get an interest rate of 13.1% in a  Halifax Jersey offshore account we parked it there until the exchange rate improved. I kept a spreadsheet and watched in horror as the rate went down steadily to $1.39  :o

Fortunately it started back up and 20 months later it was over $1.6 and at that point I transferred the proceeds over to the US. Exchange rate movements are not good for the old dicky ticker so now I just try and move money over on a schedule and accept that some months we'll win and some we'll lose.
Dual USC/UKC living in the UK since May 2016


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