Hi, for context, I’ll be in the UK in a couple of months and I need to order some GBP before I leave. The exchange rate right now is 1.2787 GBP/USD but I don’t understand what that means exactly. Does that mean the GBP is worth more? This rate seems higher than normal, is this a good time to exchange? Or do I have it opposite and I should wait?
In: Economics
A bit off-topic, but you likely don’t need cash at all if you’re visiting the UK. I used tap to pay for everything there. Just ensure you’re using a card without a foreign transaction fee, and decline any offer of the payment terminal to process the payment in dollars: your bank will give you a better exchange rate when the payment is processed as GBP by them.
If you did want to get cash, you can get a better exchange rate by just withdrawing GBP from an ATM when you arrive.
Latest Answers