Pound / Dollar Exchange Rate Question.

smudge · Jan 19, 2014

As NSC is the font of all knowledge I thought I'd see if there were any financial whizz kids out there who can give me some pearls of wisdom.
I get paid in US dollars and the exhange rate is killing me at the moment. Any hopes of the dollar strengthening in the near (or distant) future?
If not a career change is definitely on the cards. No point being away half the year for peanuts.

sydney · Jan 19, 2014

U.S dollar is likely to improve slightly but not significantly against the pound......but hey if we knew for sure we would all be millionaires.

Have you thought of buying designer clobber in the u.s which is 4 or 5 times the price in the u.k...?? e.i Ralphs , Abercrombie and Hollister...

Herr Tubthumper · Jan 19, 2014

smudge said:
As NSC is the font of all knowledge I thought I'd see if there were any financial whizz kids out there who can give me some pearls of wisdom.
I get paid in US dollars and the exhange rate is killing me at the moment. Any hopes of the dollar strengthening in the near (or distant) future?
If not a career change is definitely on the cards. No point being away half the year for peanuts.

Tell me about it. I get paid in stirling and live in Germany.

Captain Sensible · Jan 19, 2014

Gbp usd yr low 1.4866 yr high 1.6586 (last 12 months)
Sure it's sitting near its high at the moment but gbp has sat around 1.55-1.60 mark most of the last 12 months. Can it make that much difference to you?
How are you getting your money exchanged?

Captain Sensible · Jan 19, 2014

Herr Tubthumper said:
Tell me about it. I get paid in stirling and live in Germany.

Gbp-eur 1.21 sitting at its year high. That must help.

smudge · Jan 19, 2014

Get my salary wired direct to my UK account.
A few of the guys have dollar accounts & transfer when it suits them. I have a mortgage & direct debits etc so I'd rather just get it over & done with.
Never been too clever when it comes to finance to be honest.

Herr Tubthumper · Jan 19, 2014

Captain Sensible said:
Gbp-eur 1.21 sitting at its year high. That must help.

Used to be 1.45 though

The Spanish · Jan 19, 2014

Herr Tubthumper said:
Tell me about it. I get paid in stirling and live in Germany.

so you have to go to Scotland to collect your money?

yeah i can see that being expensive.

Herr Tubthumper · Jan 19, 2014

The Spanish said:
so you have to go to Scotland to collect your money?

yeah i can see that being expensive.

Maybe when they leave the UK they'll join the euro? This will make life easier for me.

The Spanish · Jan 19, 2014

smudge said:
As NSC is the font of all knowledge I thought I'd see if there were any financial whizz kids out there who can give me some pearls of wisdom.
I get paid in US dollars and the exhange rate is killing me at the moment. Any hopes of the dollar strengthening in the near (or distant) future?
If not a career change is definitely on the cards. No point being away half the year for peanuts.

smudge have you tried your HR? there are lots of packages and advice about for seafarers, they should be able to help or at least point you in the right direction. They should be uour first port of call (pun intended). As USD is default in your game, there are lots of crew on far more unstable exchange rates.

Anyway if you are away that long I would be sorting out your income tax before dealing with exchange rate variance. Thats a drop in the ocean (again pun intended) compared to that.

User removed 4 · Jan 19, 2014

The Spanish said:
smudge have you tried your HR? there are lots of packages and advice about for seafarers, they should be able to help or at least point you in the right direction. They should be uour first port of call (pun intended). As USD is default in your game, there are lots of crew on far more unstable exchange rates.

Anyway if you are away that long I would be sorting out your income tax before dealing with exchange rate variance. Thats a drop in the ocean (again pun intended) compared to that.

Do you remember that very boozy afternoon when it was brigbton v charlton and millwall v palace and we did t make it out of the pub ? You met smudge early on that day.

mune ni kamome · Jan 19, 2014

Herr Tubthumper said:
Tell me about it. I get paid in stirling and live in Germany.

I see what you did there. Very amusing.

worthingseagull123 · Jan 19, 2014

If British Interest rates go up, would that not allow the pound to strengthen against the dollar?

seagullsslimjim · Jan 19, 2014

worthingseagull123 said:
If British Interest rates go up, would that not allow the pound to strengthen against the dollar?

Agree on this - with the economy recovering and the prospect of higher interest rates here before America or the Euro Countries then Sterling will continue to appreciate.

Justice · Jan 19, 2014

The GBP is rallying because we are not raising interest rates, I don't think we will see a interest rate rise until 2016.

Official Old Man · Jan 19, 2014

I bought £10,000 of dollars at 2.10US$ = £1 about 5 or more years back. Great investment. At the moment is has hovered at the 1.50 mark for the last few years and certainly wont go a lot lower than that. Something we did in Spain whilst living there is find someone who wants dollars, maybe they are in an opposite position to you, and swop at a better rate.

Captain Sensible · Jan 20, 2014

worthingseagull123 said:
If British Interest rates go up, would that not allow the pound to strengthen against the dollar?

Inflation is back down to the target so I can't see a rate rise any time soon.

Herr Tubthumper · Jan 20, 2014

I remember the good times said:
I bought £10,000 of dollars at 2.10US$ = £1 about 5 or more years back. Great investment. At the moment is has hovered at the 1.50 mark for the last few years and certainly wont go a lot lower than that. Something we did in Spain whilst living there is find someone who wants dollars, maybe they are in an opposite position to you, and swop at a better rate.

Peer2Peer exchange markets are good for this. I use CurrencyFair.

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