Friday, December 19, 2008

Exchange Rate Worries (Second time lucky)

GARETH SAYS...

What the hell is happening to the pound????

I still have some savings in the UK that i'd love to put towards a deposit on a flat in New York but with the pound collapsing quicker than a granny on an icy path i have lost 25% if i bring it over to the States. Bah Humbug.

But as they say every cloud has a silver lining! If i was to convert my dollar salary into pounds i'd be 25% richer.

Oh how tempting it is to play the currency game :)

But when you look at what happened to Iceland i think it is best to stick to what your really know. They got into a lifetime's worth of trouble for taking loans out in foreign currency. Doh!!!!

1 comment:

Holly said...

With the benefit of hindsight, I really regret not buying £1000 of dollars when the rate was $2 to £1 so I could convert it back now. Although this would never have happened since I didn't have that kind of money to play with!

At least your Christmas here won't cost so much! My sister is in London today to see Kings of Leon at Wembley tomorrow and I am so jealous!