Eli5, the British pound has hit an all time low. I am traveling to the UK next month from the US. If I change my US money to sterling will things cost me more or less?

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Or should i use my US credit card instead?

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Anonymous 0 Comments

It will make things cheaper for you! Since prices there likely don’t change, you’ll spend less dollars to get the amount of pounds to spend.

Say the pound was worth $1.25. You exchange $500 to get ₤400. So a ₤20 lunch cost you $25.

Now, if the dollar and pound reach parity where $1 = ₤1, so exchanging $500 gets you ₤500, then that same ₤20 lunch now only costs you $20.
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