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Old 28.03.2011, 17:05
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Good time to change money in GBP or USD?

I'm not too good with finance in general and exchange rates etc - I earn my salary here in Swiss CHF

I have an account in UK

A lot of people tell me I shouldn't keep my money in CHF, and if I have a GBP account, I should keep the money in my UK account as the rate is good right now

For example - today I transferred 3000 CHF and it equated to around 2000GBP

Is that a good rate? Doesn't seem so to me?

Sorry for newbie question
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Old 28.03.2011, 17:10
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Re: Good time to change money in GBP or USD?

Considering the exchange rate history over the last 4 years or so, that's bloody excellent. Not so long agao, your 3000.- would have only gotten you around £1500.
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Old 28.03.2011, 17:13
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Re: Good time to change money in GBP or USD?

Yea' I guess so

I don't know if I should keep my CHF here in Switzerland, in my saving account with UBS or I should transfer most of my CHF money to my English Account and keep it in my savings account there

Not sure how to make my mind up

Don't know how long I will stay in Switzerland, for now everything is fine here - home is London - so not sure if I should keep here or move money there to take advantage of current rate
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Old 28.03.2011, 17:19
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Re: Good time to change money in GBP or USD?

Depends where you want to spend it I suppose. What happens if you need the money in CHF and you have it all in Pounds? At the moment you are stuffed. I think if you were clever enough to get a job and a life over here you are clever enough to work out your finances, surely?
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Old 28.03.2011, 17:28
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Re: Good time to change money in GBP or USD?

Basically you are betting on the pound getting stronger again so you can transfer back to chf right?

Why not just open a pound account here in Switzerland then at least you're not paying transfer fees. And if the pound strengthens you can get more chf than you had :-)
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Old 28.03.2011, 17:36
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Re: Good time to change money in GBP or USD?

The franc is a safe haven currency. I'd stick with it just now.
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Old 28.03.2011, 17:37
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Re: Good time to change money in GBP or USD?

http://www.bloomberg.com/news/2011-0...an-t-stop.html

Quick article
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