Currency

[tezmand]

i know this is gonna sound really thick but i cant get my head round it to work it out if you have currency left over in this case its us dollars and you take it back to change back to uk pounds is it better for you the higher the exchange rate or lower eg tesco are doin it for 1.71 thomson 1.66 no commision at either store sorry for my thickness lol

[ubasses]

The lower for converting to sterling. Best way to look at it is you only need to spend 1.66 dollars to get a pound instead of spending 1.71 to get a pound

[bhg481]

If you give Tesco's $1.71 they will give you £1.

If you give Thompson $1.66 they will give you £1.

So you give less money to Tesco's than you do to Thomson for £1.

Go to Thomson.

[tezmand]

many thanks for your answers that makes sense

[jno]

wrong way round, bhg? you give more money to Tesco, 5 cents more... go to Thomson is still right, though.

[bhg481]

JNO - Sorry, my logic is right but, as you say, I give MORE money to Tesco to get £1 from them than I do to Thomson.

[theshedman]

Or if you know someone that is going to the US soon then sell it to them for a rate in between the buying and selling rate. That way you both get a better deal than you would in store.