I get paid in dollars and today the trading rate is 1.647. I worked out that Santandar the exchange is 1.72!!!!!!! I've lost a considerable amount of money this month and the word is they expect the exchange rate to go to 1.85ish!!! All I want is the dollar and pound to go 1 for 1 and the pound peso to hit 100 to one. Oh and for the banks to spot taking the piss!!!! Its not too much to ask is it?
Ah sorry Stu, all I want is dollar and pound to go 2 to 1 again and then the Peso will go back to 80-90 to the pound again as I think Sterling is triangulated via the Dollar against the Peso mostly but I do feel your pain mate.
If I was paid in pounds then I'd agree. Strangley I get the impression that the peso is not so reliant on the dollar anymore. I'm not sure how the peso has remained so stable these last few years.
Caxton whos prepaid cards i use are a major fx player today they are at 1.61.07 dollars to pound they have a dedicated fx dep maybe if you got your company to pay to a fx acount with them you might do a lot better http://www.caxtonfxcard.com/
It's not but the country and many citizens still have huge dollar deposits, so a collapsing dollar hurts them.
Keith, just been looking at that Caxton website and I'm a little confused (doesn't take much eh!) I'm guessing something like the dollar card wouldn't work for me as you load it with sterling and they covert it to dollars for spending in the USA right? My thinking is if I get one of these cards can you reverse the process? As you say get my company to pay into the card account and then I'd just do a internet transfer say to my UK current account for sterling? Only asking because I can't see any info regarding a normal dollar acount.
Just found a bank called citibank who do dollar, euro and sterling accounts. Gave them a call and as an example I asked what the exchange rate was for the day, he replied that it depends on how much I'd be paying in. So $12000 into sterling worked out an exchange rate of 1.645. Santander was ginving 1.73!!!! Saving me about £175. does anyone have any experience with these?
