Pound/Dollar....How low can it go?!

[spydersingh]

I see the Pound:Dollar has gone down even further today! £1 gives you $1.53! Holy crap!

Any pundits see this dropping into the 1.4's? Or maybe a rebound upwards?

[Scott328i]

Do tell, I need to change up as I am off to florida next wednesday.

[oilydan]

As I get paid in US$ and send money back to the UK each month I'm hoping it goeas all the way to 1:1

[richyb]

It could potentially go to anything. 1:1 seems extreme but who knows what around the corner. I wonder what situation we would be in now if we have moved to the Euro a few years back?

[allgonepetetong]

oilydan said:

As I get paid in US$ and send money back to the UK each month I'm hoping it goeas all the way to 1:1

I get paid in Hong Kong dollars, which are pegged to the US dollar. Having mortgages in the UK I am in the same boat as you and hoping for the same.

Bring on parity!

Although I do realise this will have a huge inflationary effect in the UK and hurt family, friends and you guys on PH, so I am being very careful what I wish for and not being too selfish. 1.40's therefore would be great.

[Ecosseven]

I get paid in local currency. Six months ago the exchange rate was 7.2 UAE Dirhams to 1 GBP. This morning it is 5.75 or thereabouts. Huge drop in such a short time period.

[GavinPearson]

Having lived in the US for 9 years I reckon the 'natural' rate is around 1.5:1 but I think in the short term it may go as low as 1.4:1.

On the bright side, now is an extremely good time to be an exporter to the USA.

[crossle]

Ecosseven said:

I get paid in local currency. Six months ago the exchange rate was 7.2 UAE Dirhams to 1 GBP. This morning it is 5.75 or thereabouts. Huge drop in such a short time period.

Good news, if you're sending money home though!

[Ecosseven]

crossle said:

Ecosseven said:

I get paid in local currency. Six months ago the exchange rate was 7.2 UAE Dirhams to 1 GBP. This morning it is 5.75 or thereabouts. Huge drop in such a short time period.

Good news, if you're sending money home though!

Absolutely! I am sending most of my salary home to the UK at the moment, just keeping a reasonable amount to live on and for emergencies. It won't last forever and it will be interesting to see the changes over the next 3-4 months. The historical average is around 6.7 I think. The Dirham is pegged against the US Dollar.

[crossle]

Ecosseven said:

crossle said:

Ecosseven said:

I get paid in local currency. Six months ago the exchange rate was 7.2 UAE Dirhams to 1 GBP. This morning it is 5.75 or thereabouts. Huge drop in such a short time period.

Good news, if you're sending money home though!

Absolutely! I am sending most of my salary home to the UK at the moment, just keeping a reasonable amount to live on and for emergencies. It won't last forever and it will be interesting to see the changes over the next 3-4 months. The historical average is around 6.7 I think. The Dirham is pegged against the US Dollar.

It was around 5.5 for most of the late 1990's (1994-1999), except for one glorious month when it was 4.8. Happy days...

[Brown and Boris]

Smug of Yorkshire bought his holiday money at $1.94. In my world a holiday pint is still £2.

[andy-xr]

I forgot to change some dollars when I came back earlier in the year. Might keep hold of them, 2 of them could pay the mortgage in a few months

[King Herald]

oilydan said:

As I get paid in US$ and send money back to the UK each month I'm hoping it goeas all the way to 1:1

You too huh?

I send ALL my money to the UK each month, so 1:1 works for me.

[Busamav]

how low can it go .......

well it was down to 5 bob at one time