A UK Personal Finance Blog – The result of direct exposure to the fallout of the financial crisis.
A UK Personal Finance Blog – The result of direct exposure to the fallout of the financial crisis.
Following recent news a big announcement is the current exchange rate between the pound (GBP) and the dollar (USD).
The pound rose to its highest against the dollar since 1992 and now stands at 1 GBP = 2.00493 USD (according to www.xe.com the currency converter).
This is great news for people planning a holiday to the states because it effectively means equivalent products in the USA are about half the price.
If you are thinking of buying cheap goods in the USA things to consider are state taxes, different electricity supplies and chancers. Do your research before you buy and buy from reputable stores. Overpriced goods are available the world over.
Of course this shift in the value of the dollar isn’t all good. Companies selling to the US in dollars are now making less when they convert their profits back into their own currency and the US is one of the UK’s biggest export markets.
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