Changing �GBP to $US

[stoory]

I have around $US 5,000 and wanted to know if t's worth waiting for a better exchange rate before changing it into �GBP? How long would i have to wait and would it be worth it?

[Harley]

There is no doubt that the US$ is weak against GBP you have only got to look back a 2 years when it was 1.50.I suppose the answer depends on your circumstances.Interest rates are very low in the US but to convert to GBP and put on deposit here will give you a few percent more.I reckon a 10 cent shift is worth 170 quid or 2 years interest differential.For my money I would buy Apple Ipods in the USA and flog em here they are a lot cheaper !

[SteveD]

Be careful with the iPod idea! You could be liable for import duty. Could you not open a dollar account and let the money earn a little interest while you are waiting?

[Chips]

Yes you can deposit the money for extra income. My collegue is a overnight depositor for Xerox. Look the world over for high interest deposit account and stick it here. For an easier solution, swap your currency USD - GBP (Today 23rd Sept is pretty good) and hold your GBP in a suitable interest account or in bonds. Then when the USD strenghthens agains the GBP swap back to USD. There are many ways to swap the currency at a decent rate but with a few thousand 'negotiate' with your local bank. You can break 10% with ease in bonds per annum.