Craig W Posted October 23, 2008 Posted October 23, 2008 Can't believe how much the price of the pound has dropped against the dollar . I went over to Detroit not too long ago and got over 2 dollars to the pound did some buying over there and got great value with the exchange rate. Slowed down a bit until recently and have started buying again now and I was really shocked tonight when I had an invoice for $160.00 off Ebay coming back as £107.00. I still had it in my brain that I just halved what I paid. I know about the credit crunch whatever but did not exect this. Dont know what the exchange rate is at the moment but this has got to be affecting prices drastically. Any thoughts.
Prophonics 2029 Posted October 23, 2008 Posted October 23, 2008 last time I paid on Ebay 1 hour ago £1.57 should have waited a day or so, wouldn't like to Pay for JD Bryant today
Guest Mark Holmes Posted October 23, 2008 Posted October 23, 2008 Yes, I looked today and I am happy as the proverbial pig in the proverbial s**t. It means I can afford to come home, its been over 3 years since I was back because of the exchange rate (well that was one reason). I know it doesn't do much for those who come here though. I wonder what effect it will have on record prices and will it open the market up and records will be priced at thier real values?
Diggin' Dave Posted October 24, 2008 Posted October 24, 2008 Don't understand why the dollar's getting stronger while they're in the middle of one of the biggest financial recessions/depressions of the last decades. Never got my head around economics. Can someone enlighten us on how this is possible?
Guest john s Posted October 24, 2008 Posted October 24, 2008 Don't understand why the dollar's getting stronger while they're in the middle of one of the biggest financial recessions/depressions of the last decades. Never got my head around economics. Can someone enlighten us on how this is possible? We're doing worse! https://www.guardian.co.uk/business/2008/au...ollar.recession
Steve G Posted October 24, 2008 Posted October 24, 2008 Don't understand why the dollar's getting stronger while they're in the middle of one of the biggest financial recessions/depressions of the last decades. Never got my head around economics. Can someone enlighten us on how this is possible? Very simple - investors think that the UK (and Europe to a degree) will be in a deeper and longer recession than the USA. Therefore they are transferring their assets into dollars (and selling £) creating a demand for $, which pushes up the value of the dollar. As I said the other day it's predicted to be down at 1.55 - 1.50 before long.
munchkinette Posted October 24, 2008 Posted October 24, 2008 Just checked it's currently 1.561 dollars to the pound think it's dropped about 25c in the last week. Sharon
Diggin' Dave Posted October 24, 2008 Posted October 24, 2008 Some worrying news there. If you're doing worse than the US economy at the moment the future looks bleak...
Guest john s Posted October 24, 2008 Posted October 24, 2008 Some worrying news there. If you're doing worse than the US economy at the moment the future looks bleak... At the start of last November (i.e. almost exactly a year ago), the pound was at $2.10! Average throughout the 90's was $1.55 - and we're back there now.
Guest Posted October 24, 2008 Posted October 24, 2008 I apologize for the economic lesson in advance ... the reason for the $ gaining on the £ and the euro is that they have been having a bad economy for a lot longer than us . So now we are adjusting and going down at a greater rate ..so it will all end up levelling at about 145 -155 cents to the Pound ..not good from our side of the pond ...The good news is that its gonna be a buyers market in most things not sure about records though !!
pikeys dog Posted October 24, 2008 Posted October 24, 2008 I hope it picks back up before next march, or I'll be seriously rethinking my plans.
Dylan Posted October 24, 2008 Posted October 24, 2008 the heady days of dividing by 2 have gone now I have to think how much my records are going to cost me
Guest Mark Holmes Posted October 24, 2008 Posted October 24, 2008 Maybe I should begin renting out my back room here in Orlando.
munchkinette Posted October 24, 2008 Posted October 24, 2008 Maybe I should begin renting out my back room here in Orlando. Here's your first taker Mark, actually just priced up for coming back in March so you never know . Sharon
Steve G Posted October 24, 2008 Posted October 24, 2008 I apologize for the economic lesson in advance ... the reason for the $ gaining on the £ and the euro is that they have been having a bad economy for a lot longer than us . So now we are adjusting and going down at a greater rate ..so it will all end up levelling at about 145 -155 cents to the Pound ..not good from our side of the pond ...The good news is that its gonna be a buyers market in most things not sure about records though !! Hav just read a report that predicts it'll be 1.20 by the spring......I bl**dy hope not...
Guest KEN-SOUL Posted October 24, 2008 Posted October 24, 2008 Can't believe how much the price of the pound has dropped against the dollar . I went over to Detroit not too long ago and got over 2 dollars to the pound did some buying over there and got great value with the exchange rate. Slowed down a bit until recently and have started buying again now and I was really shocked tonight when I had an invoice for $160.00 off Ebay coming back as £107.00. I still had it in my brain that I just halved what I paid. I know about the credit crunch whatever but did not exect this. Dont know what the exchange rate is at the moment but this has got to be affecting prices drastically. Any thoughts. yes craig, the really scary thing is this. if the government reduce interest rates to help the economy, there is an almighty risk that there would be "a run" on the currency, reducing even further the exchange rate... not to mention the destabalizing effect on the country as a whole...
Guest carl_p Posted October 30, 2008 Posted October 30, 2008 It seems to me every time elections come around the dollar picks up and then drops shortly after. not exactly sure why?
Marc Forrest Posted October 30, 2008 Posted October 30, 2008 It seems to me every time elections come around the dollar picks up and then drops shortly after. not exactly sure why? The main reason for the current strenght of the Dollar and the weakness of the Pound (and Euro) is mostly due to the fact that most G7 governments plus some of the nations who gave the most loans out to the US are buying USD to help out the American economy and currency and of course to secure their loans out there. Plus the dollar is heavily combined with the prices for oil which as we all know is on its lowest since about ten months. Marc
Guest hipcityhipster Posted October 30, 2008 Posted October 30, 2008 In my opinion its all to do with the media. They report that we're in a crisis so the money people get scared and remove their money. If the media kept their mouth shut then nothing would happen. The wosre thing is the real people of this country (ie; you and me) who are not millionaires with thousands of pounds invested are not affected by the credit crunch that much because we dont have any money / savings / investments to lose. Whereas the currency rates dropping drastically can affect us. Rob
Guest Netspeaky Posted October 30, 2008 Posted October 30, 2008 Funny I mention this the other week on here didn't have a single reply, I must have be ahead of the game for once.
Guest sjay Posted October 30, 2008 Posted October 30, 2008 JUST BID LESS MONEY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Ian Dewhirst Posted October 30, 2008 Posted October 30, 2008 Hav just read a report that predicts it'll be 1.20 by the spring......I bl**dy hope not... Mmmmm. Maybe it's time to start flogging some of those records back to where they came from! I've got a few thousand £5 records which I'll flog back to the USA @ anytime LOL..... In fact, any U.S. buyers can contact me right now for a £3.00 list which makes a lot of sense at current exchange rates.......... Ian D
Guest carl_p Posted October 30, 2008 Posted October 30, 2008 I know it was a rather good deal in the exchange on buying John's new book.
Quinvy Posted November 14, 2008 Posted November 14, 2008 $1.48 to the pound I ain't buying nothing from the States......
boba Posted November 14, 2008 Posted November 14, 2008 $1.48 to the pound I ain't buying nothing from the States...... when it hits 1:1 i'm buying up everyone's sales on here
Guest Posted November 14, 2008 Posted November 14, 2008 Can't believe how much the price of the pound has dropped against the dollar . I went over to Detroit not too long ago and got over 2 dollars to the pound did some buying over there and got great value with the exchange rate. Slowed down a bit until recently and have started buying again now and I was really shocked tonight when I had an invoice for $160.00 off Ebay coming back as £107.00. I still had it in my brain that I just halved what I paid. I know about the credit crunch whatever but did not exect this. Dont know what the exchange rate is at the moment but this has got to be affecting prices drastically. Any thoughts. I was lucky enough to have been able to buy 20.000 dollars when they were cheap ! I had a feeling they would come back up !
Mace Posted November 14, 2008 Posted November 14, 2008 when it hits 1:1 i'm buying up everyone's sales on here Can we all hold you to that???
Quinvy Posted November 14, 2008 Posted November 14, 2008 when it hits 1:1 i'm buying up everyone's sales on here Let me know Bob, and I'll send you a sales CD with list..... ....cos my job looks very dodgy to say the least......
Mace Posted November 14, 2008 Posted November 14, 2008 I was lucky enough to have been able to buy 20.000 dollars when they were cheap ! I had a feeling they would come back up ! Was that $20 or $20,000 Mossy? Know you Welsh lads love a bargain, even at $20...
Prophonics 2029 Posted November 14, 2008 Posted November 14, 2008 I was lucky enough to have been able to buy 20.000 dollars when they were cheap ! I had a feeling they would come back up ! Hi Mossy so dose this mean you re square now or have you made on the deal.
Guest Posted November 14, 2008 Posted November 14, 2008 (edited) Was that $20 or $20,000 Mossy? Know you Welsh lads love a bargain, even at $20... ok ......... it was 20 pounds worth !!! Sounded like I was clever at first tho didn't it ! Edited November 14, 2008 by mossy
Guest Posted November 14, 2008 Posted November 14, 2008 Why dont we just have dollers we've got everything else American.as you can guess i dont give a .....
Little-stevie Posted November 14, 2008 Posted November 14, 2008 I hope it picks back up before next march, or I'll be seriously rethinking my plans. .. I take it you can't have that operation in the uk then... Fingers crossed for you mate..
Guest in town Mikey Posted November 14, 2008 Posted November 14, 2008 If the bank continue to cut their base rate the pound will continue to be even weaker. The temptaion to put money into the UK will be less attractive for foreign investors. No idea why the dollar should still be strong though as their base rate is way lower than the UKs.
Maark Posted November 14, 2008 Posted November 14, 2008 If the bank continue to cut their base rate the pound will continue to be even weaker. The temptaion to put money into the UK will be less attractive for foreign investors. No idea why the dollar should still be strong though as their base rate is way lower than the UKs. I know when we drop our interest rates, the £ tends to weaken against the $ as you stated Mikey, but I've noticed that dire warnings from the Bank of England, or some Govt minister/top bod seems to be having a much bigger effect on the £'s slide. There are two sides to this though...... the work I'm selling in America is worth much more £'s when converted now!
Guest TONY ROUNCE Posted November 14, 2008 Posted November 14, 2008 $1.48 to the pound I ain't buying nothing from the States...... ...The PayPal exchange rate's a dollar forty four as of half an hour ago, when I paid nearly 24 quid for some kids clothes that would have cost me 20 quid a matter of weeks ago...
Guest in town Mikey Posted November 14, 2008 Posted November 14, 2008 I know when we drop our interest rates, the £ tends to weaken against the $ as you stated Mikey, but I've noticed that dire warnings from the Bank of England, or some Govt minister/top bod seems to be having a much bigger effect on the £'s slide. There are two sides to this though...... the work I'm selling in America is worth much more £'s when converted now! This is what British exporters are hoping will help them out a little. Importers will be feeling it though.
John Reed Posted November 14, 2008 Posted November 14, 2008 I'm very bearish about sterling. There are historic support levels around 1.40, but if it breaks who know where it could go. It hit parity in 1985. There is also talk about it hitting parity with the Euro. I don't know if its been mentioned on here before, but those of you with base rate tracker mortgages, have you checked if you have a floor on the rate? A lot of them included a clause that state that the rate you pay will be a minimum rate of 3% irrepective if the base rate droppes below 3%.
Guest Arcticsoulboy Posted November 14, 2008 Posted November 14, 2008 I was lucky enough to have been able to buy 20.000 dollars when they were cheap ! I had a feeling they would come back up ! You do know that 10000 dollar bills are bootlegs right?
Guest in town Mikey Posted November 14, 2008 Posted November 14, 2008 (edited) On a side note a lady at work reminded me at lunchtime that she asked where the best ISA was to put £2000 in about Xmas time last year. And I actually said to her to buy US dollars at 2.02 because I thought the dollar was about 10-15 cents too high, and it would be down around the 1.85 mark during 2008. I should have put all my saivings into dollars as well. but £5.63 doesnt make too much interest either way :-( Edited November 14, 2008 by in town Mikey
Guest bazrico Posted November 14, 2008 Posted November 14, 2008 the pound has dropped a long way forgot i had a hole in that pocket lol
paultp Posted November 14, 2008 Posted November 14, 2008 From a positive point of view; prices of records from UK sellers are now looking much more reasonable, both to UK and US buyers. Prices of records on ebay US will drop (in dollars) as the pound slides cos most buyers are from the UK, so that's not too bad either (unless you are a US seller).
Guest NS101 Posted November 15, 2008 Posted November 15, 2008 A drop of 10 cents in the last 5 days. Channel 4 page 500 today saw it end at $1.4855 to the pound. So paying by visa you'll get about $1.40 cos they rip you off by about 8 cents a quid in their charges. I'm not saying it's a definite 8 cents charge but it always seemed like that and i'm going back 15 odd years where i found that it was usually a lesser charge if you paid with an IMO and the charge on them besides the £8 or whatever it was at Barclays was only about 3 or 4 cents. The best rate was always and still is if you buy dollars cash and the Nat West was always the best rate. They have changed their name now i think and probably its different. Back in the 90's i knew every bank rate for dollars and which was the best place of exchange. TSB was the worst. LLyods was slightly better. Buying an imo was a fiver but took a few days, at TSB it was £10, Barclays was buy on the spot and pay cash. Now llyods is part of Tsb and about to join with somebody else. Jeez, i remember phoning Nat West and saying i want to buy X. I'll be in to collect Y. No problem. Going into Barclays and buying an IMO was easy. Now, from Barclays you need to be a customer and pay outta your account for easy transaction. No account and you can still get but rigmarole. Nat West went same route, u gotta be a customer. Something to do with money laundering. Nowadays i must confess i'm not too familiar with except visa is convenient so we all use it. And are stuffed up by the comissions they charge. While i'm on here bitching about the rates i recall a story. 4 years ago i sent a USA company $600 for some stuff. I got them all ok. But that Company also sent me a letter saying i should not send them cash. blah blah blah. The thing is i had sent them dollars cash a year earlier and again, no problem, all arrived. Which is why i sent the 600 in my 2nd deal with them. That reply made out i was a effing idiot who they didnt want as a customerfor. Crissakes, well that how it seemed. Money is money isnt it?. Sure i was risking it but after a 1st ok, to me a 2nd would go fine. It did. The dollars i had were good and i'd found a use for them. All before i got the net. I wouldnt dream of buying off them now in any form of transfer as i've now found other companies who are 30% cheaper.
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