Is the pound going to keep doing down against the dollar?

Question

Im wondering weather to change some money into dollars for a holiday in 2010, will it continue to drop?

Its currently £1 = $1.87, I heard their is a different rate for people going on holiday, is this correct, and if so what is it?

Answer 1

when i went  years ago it was 1.70 dollars to the pound.

the pound will decline over next few years until it gets to parity with the euro when we will convert to euros and ditch the pound ( deliberate policy by governments and finance houses)

  as to the near future the dollar will also weaken due to the Russian and US  collapse of diplomatic ties. So no doubt euros  will become a little stronger against the dollar as will the Pound. as to when  and on what date this will happen..banks employ dozens of highly paid experts to answer that and they still get it wrong.

Answer 2

Dollar will be strong again. Pound and Euro will be week due to high inflation and recession in Europe. Its time to invest in dollar. After the election in America, dollar will boost. So go for dollar.

Answer 3

The current (22 Aug 2008) £/$ rate is, as you say, around 1.87 but this is the official exchange rate not what you would get as a tourist. Because of the costs involved in handling the physical cash, if you go to the high st and ask for dollar bills you'll get about $1.80 to the pound.

Current forward pricing would see that rising above $1.90 by end of 2009 - though in truth that's just guess work. No one in the world can really be sure what will happen between now and then (events dear boy, events).

Either way unless you are able to change money into dollars and then deposit it into an interest bearing account you'd probably be wasting your time even if the exchange rate moved in your favour. More likely I expect you were intending to put the dollar bills 'under the mattress' which would doubly mistaken.

Answer 4

I doubt it

Answer 5

If crude oil price drops further, the dollar may strengthened further against the pound. Which means that the pound will go down against the dollar. The price of the pound also depends of its demand during peak holiday and the finance of international trade with the US