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lucien500
13-04-2009, 23:15
I am earning money by hand here... before I go back to the UK, should I exchange my money to pounds, or to dollars or euros? I don't know how the economic situation is at the mo. All help apreciated.

Thanks

Luce

Carbo
14-04-2009, 00:23
I am earning money by hand here... before I go back to the UK, should I exchange my money to pounds, or to dollars or euros? I don't know how the economic situation is at the mo. All help apreciated.

Thanks

Luce
Depending on how much you have, and how likely you are to spend it over the next year or so, I would mix and match.

Bear in mind that you will LOSE on the exchange rate for every thing you change, and only gain if that currency gains.

If you're going to hold the money for a considerable time, I would mix it. If you're going to spend it, in the UK, just get it changed. Either here or in the UK, depending on how much you have to change.

If you have a large sum, and you want to save it, I would consider making a small portion gold, and putting some into German Bunds and US Treasuries. Cash, though, until the back end of this year at least, is likely to be the best performing asset, in my view.

Obviously, if the whole economy goes pop, you'll want as much as your wealth as possible in gold, and you should put a small amount of any large sum into gold just in case.

But, if, like me, your savings total a couple of thousand bucks, just keep it in pounds. More than that, and I'd want it in a variety of pounds, euros, and dollars, as well as, possibly, for larger amounts, yen and Norwegian krone.

Really large amounts (six figures), into large variety of currencies, gold, Bunds and Ts.

Willy
14-04-2009, 00:37
Don't save a thing! Just spend on lose women and drink! You'll always have the memories. Well that and maybe a few STDs but hey, you only live once!

lucien500
14-04-2009, 00:40
when I say a lot of money, I only mean around 500 (this is a lot for me!!)

I am going back permentantly to the UK next month, I think just to get pounds, we all know this is a strong currency and I think it is really strong against the rouble.

For my last month here, I shall check frequently to see how the rate is going (i live next door to a money exchange place), when it gets over 49, exchange I think! I just will have to make sure I don't become annoyed if it gets higher the next day, often a hard emotion to overcome!

Thanks for your help

Luce

Green Tea
14-04-2009, 00:58
when I say a lot of money, I only mean around 500 (this is a lot for me!!)





I feel your pain, brother. I got raped on exchange rates a while back too.

You've just got to take the hit.

Do it in Russia before you leave! You'll get crap rates on Rubles in the U.K., and most places won't even take them. I couldn't find anywhere to exchange the 20 worth of Ukrainian Grivnas I forgot to trade in.

Fees in British exchange kiosks are criminal (at least from my experience). Not so bad, if you look around in Moscow.

Len Ganley Stance
14-04-2009, 08:27
Do it in Russia before you leave! You'll get crap rates on Rubles in the U.K., and most places won't even take them.

Absolutely.

From past experiences here though, you may find that a lot of money change booths in Moscow won't have Sterling. If that is the case, your best bet are regular banks here. The rates are fairly comparable with the booths BUT are definitely far better than you will get in the UK.

Carbo
14-04-2009, 11:13
when I say a lot of money, I only mean around 500 (this is a lot for me!!)

I am going back permentantly to the UK next month, I think just to get pounds, we all know this is a strong currency and I think it is really strong against the rouble.

For my last month here, I shall check frequently to see how the rate is going (i live next door to a money exchange place), when it gets over 49, exchange I think! I just will have to make sure I don't become annoyed if it gets higher the next day, often a hard emotion to overcome!

Thanks for your help

Luce
Oh. Just call up any exchange in the UK, check the rate, compare it to the exchange here, and decide whether to change the money into pounds here, or pounds in the UK.

Don't bother with any other currency. You'll just lose on all the exchanges.

Here are the best rates in Moscow:

http://cash.rbc.ru/?pagerLimiter=70&order=ASC&sortf=ASK&city=1&currency=321&time=15&positionData=2

Now don't say I never give you anything.

annasophia
14-04-2009, 11:36
I am earning money by hand here... before I go back to the UK, should I exchange my money to pounds, or to dollars or euros? I don't know how the economic situation is at the mo. All help apreciated.

Thanks

Luce

Whatever you decide.....

Make the exchange in Russia. Rubles are all but impossible to get rid of outside of Russia.

lucien500
14-04-2009, 12:44
thanks everybody!