How to get the best exchange rates for US dollars

November 30th, 2011

The pound-to-US dollar exchange rate recently took a big hit in the economic downturn meaning that people need to make sure they look for the best exchange rates for US dollars before converting their money. Always pre order your dollars before you get to the airport as this will save you money. The brokers at the airport tend to take a large chunk of commission off your money, so make sure you always convert your dollars before to get the best exchange rates in the uk.

The official currency of the United States is the US dollar. This currency is also used in other countries and is accepted in others even though it is not necessarily their legal currency. Dollar bills and US coins come in various denominations. There are plenty of slang terms for the dollar bill but the most common is bucks, which refers to dollars in general.

Up to 2008, Britons were lucky in finding the best exchange rates for US dollars as 1 British pound would buy between 1.7 and 2 US dollars. During the economic crash, the exchange rate fell to as low as 1.4 dollars to the pound. As of mid 2009 the rate recovered slightly and at that time the pound would buy you 1.6 US dollars. You should always check for the best exchange rates for US dollars, at the current time of writing this article 1 pound is currently worth 1.6 US dollars.

It is always a good idea to buy US dollars in advance and check for the best exchange rates for US dollars. You can get a better deal by pre-ordering your travel money than at the airport, and by doing that you avoid the stress of trying to find an ATM that accepts your card and doesn’t have extreme charges.

When you exchange your travel money, be sure to get smaller bills like 20s and 10s as many small shops and taxis won’t accept 50 or 100 dollar bills. You may want to get plenty of 1 dollar bills for tips.

With the current rate standing at 1.6 pounds for US dollars, the price for pounds is 60% of the US dollar price. Here is a quick way to work this out in your head. For example, if something is worth $30, move the decimal point back a digit to calculate 10% which is 3$, then multiply by 6 to get the rough price in pounds which works out approximately at £18. Remember to check the exchange rate at the time as this is based upon the current rate of 1.6 pounds for US dollars.

In summary, make sure that before you change your travel money you search for the best exchange rates for US dollars, in order to get the best deal.

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