Dollar exchange rate

bonbondar

Does anyone have any experiance with the rate of change with the euro to dollar.
Its quite weak at the moment. Im heading away in July and want to obviously get the best rate I can.
At the moment its at 1.26 with the post office. Does it show any signs of rising?
Thanks.

dudara

Moved to Banking & Insurance & Pensions

dudara

bonbondar

Thank you. Had a a feeling it was in the wrong section.

Scortho

bonbondar wrote: »

Does anyone have any experiance with the rate of change with the euro to dollar.
Its quite weak at the moment. Im heading away in July and want to obviously get the best rate I can.
At the moment its at 1.26 with the post office. Does it show any signs of rising?
Thanks.

If I was certain what way the dollar will swing, I'd be out putting bets on it already.

No one knows what the exchange rate will be in 2-3 months time hell hardly anyone knows what it'll be next week.
There are so many mitigating factors that will determine both the euro's and dollars value.

I could tell you that the value could rise over the next 2 months, but something dramatic could be thrown up that effects the euros value and send it sinking.

If you want to spread your risk of buying it to cheap/to dear you could exchange it over a number of weeks. Or you could buy it now and say feck it!

However over the next two months I can't see it rising dramatically or collapsing in value.

snubbleste

petersburg2002

Ulster Bank usually offers the best exchange rates for foreign currency.

bonbondar

Wow sarcastic much. Sorry for asking. Thansk petersburg. Do they charge commission? I know the post office offer commission free. Might check out ulster bank thank you.

srsly78

Don't use any bank their rates are terrible. Don't be fooled by "commission free" - money gets made on the spread (ie they give you a bad rate).

If you are converting a large amount then use a dedicated foreign exchange service, you can find lots of brokers by googling. There are also market-making sites like currencyfair.com that you can use - this would cut out the middleman.

If you use a bank then you will pretty much lose 2-3% on the spread vs a good broker. 3% of a small amount doesn't really matter tho...

petersburg2002

bonbondar wrote: »

Wow sarcastic much. Sorry for asking. Thansk petersburg. Do they charge commission? I know the post office offer commission free. Might check out ulster bank thank you.

Bonbondar

Some consumer show recently compared all the rates (credit unions, post office, banks etc.) That is why i said Ulster bank. Talk of using brokers, dedicated exchange agents etc. is a bit ridiculous as they only deal with large sums of money and transfers etc. Not much good if you just need to change money for a holiday etc. Best best would be to get someone who has an Ulster bank account to get the money for you. All the rates are available on their websites to compare.

bonbondar

Thanks. Just had a look on Ulster banks page. They sell at 1.21 Credit union are 1.25, post office 1.26, aib 1.28. Im with AIB so might see about them. Thanks for the help.

petersburg2002

bonbondar wrote: »

Thanks. Just had a look on Ulster banks page. They sell at 1.21 Credit union are 1.25, post office 1.26, aib 1.28. Im with AIB so might see about them. Thanks for the help.

Think you might have been looking at Australian Dollar. US Dollar was selling for 1.268 with Ulster Bank. But AIB looks top of the bunch today. It pays to look around.

bonbondar

Woops so I was. My Apologies.