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Bkkandrew

USD to GBP transfer

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So, I barely dip into the finiancial side of the forum, but thought I would use the hive mind to see what everyone thought.

I have to buy a new engine for a Land Rover I own to ship here to Cambodia. I have already found the supplier, the forex dealer and the shipping agent. It’s about £10,000 Sterling needed there and I am now considering the “when”.

Its a spare car, so no urgency or opportunity cost of having the vehicle off the road. Main consideration is do it now at 1:1.30 or wait until Brexit bites and Trump triumphs and maybe get an extra grand or two to damage my liver with.

What does everyone think? 

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19 minutes ago, Bkkandrew said:

So, I barely dip into the finiancial side of the forum, but thought I would use the hive mind to see what everyone thought.

I have to buy a new engine for a Land Rover I own to ship here to Cambodia. I have already found the supplier, the forex dealer and the shipping agent. It’s about £10,000 Sterling needed there and I am now considering the “when”.

Its a spare car, so no urgency or opportunity cost of having the vehicle off the road. Main consideration is do it now at 1:1.30 or wait until Brexit bites and Trump triumphs and maybe get an extra grand or two to damage my liver with.

What does everyone think? 

Can't help on when to buy, but I've found when bringing $ home it's worth going through Revolut or Transferwise. Less so Revolut now with their blind restrictions. But usually a decent saving versus the forex dealers.

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Couple of months ago a pound only bought 1.27 dollars so I cautiously think we're going back up to about 1.40 before too long. 

All bets are off if we have a brexit though and anything could happen depending on whether markets think good or bad idea. 

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there are a number of good fx dealers out there - hifx, xe,oxforex - from memory - that give better rates than the banks.  get your account set up so all the paperwork is sorted re ID, and then you can trade when the fx hits the sweet spot for you.

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