Comments on: Currency question?! Don’t know much about it :S help? http://www.myylt.com/2010/02/28/currency-question-dont-know-much-about-it-s-help/ Discussion of Forex Trading and Currency Trading Thu, 09 Sep 2010 21:00:43 +0000 http://wordpress.org/?v=2.3.3 By: Kevin http://www.myylt.com/2010/02/28/currency-question-dont-know-much-about-it-s-help/#comment-22785 Kevin Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2010/02/28/currency-question-dont-know-much-about-it-s-help/#comment-22785 That's a tough question. It all depends on how the rates change between now and September. The good news is that you are exchanging a pretty small sum. So the exchange rate won't make it drastically cheaper or more expensive. For Example According to Google $50 would cost you about 31.23 pounds today. This is about $1.6 per Pound. If the rate changed to say $1.3 per Pound it would cost you 38 Pounds. If it went the other way and went to $1.9 per Pound it would cost you 26 Pounds Those 2 examples are a 20% change either way. Which would be a pretty big change between now and September. So you are looking at either a swing of about 5-7 Pounds up or down way. In my book that's not a HUGE difference and it probably doesn't matter. If you were exchanging say 5000 dollars you might be talking about a 500-700 pound difference which would matter. That’s a tough question. It all depends on how the rates change between now and September.

The good news is that you are exchanging a pretty small sum. So the exchange rate won’t make it drastically cheaper or more expensive.

For Example
According to Google $50 would cost you about 31.23 pounds today. This is about $1.6 per Pound.

If the rate changed to say $1.3 per Pound it would cost you 38 Pounds.

If it went the other way and went to $1.9 per Pound it would cost you 26 Pounds

Those 2 examples are a 20% change either way. Which would be a pretty big change between now and September.

So you are looking at either a swing of about 5-7 Pounds up or down way. In my book that’s not a HUGE difference and it probably doesn’t matter.

If you were exchanging say 5000 dollars you might be talking about a 500-700 pound difference which would matter.

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