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Changing USD into GBP

2 replies

BarryWhiteIsMyBrother · 04/11/2020 21:37

I recently sold a car in the USA and now I have a few thousand USD. When do you reckon will be a good time to change it into GBP to benefit from a good exchange rate? Will waiting for the election result be a good move for example?

OP posts:
MLMsuperfan · 05/11/2020 00:47

Nobody can predict the future value. Otherwise it would be priced in. Just change it now

BarbaraofSeville · 05/11/2020 09:27

You could change half and keep half for now. If there was a loss, you'd half it, but you would also half any advantage if the exchange rate went your way.

Is this money in cash or in an account? If you hang onto cash, there's a risk it will be lost or stolen.

Do you know anyone who travels to the US? Unlikely in the short term, but if you sold the money to them at the official bank exchange rate, that's likely to be better than you converting the money in a bureaux de change and they'll get the money at a good rate too.

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