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Help! What to do with US dollars?

Help!

I'm looking for advice. I have had about 65k dollars in a US bank since i left there in 2002 (now back in UK). I have been dismayed by the exchange rate which seems to get worse from as USD->GBP point of view.

I'm loathe to just cut my losses and bring it over here, perhaps wrongly, because I realise I'm still in denial that the xrate is not

1.5 like it used to be! :)

I'm open to suggestions as to what to do with this dosh to capitalise on it. US interest rates are low and it earns very little in interest.

I need a new car. One thought was buying a right hand drive car from a country that exports them and has a dollar linked currency.

Anyway enough rambling. What do you reckon?

Reply to
Broons Bane
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IMO - If you wait a while the rate will get to 2.2 and you will feel even sicker. If you then wait even longer the rate will go back to 1.6 and you will feel better.

(But I might be totally wrong)

Reply to
Miss L. Toe

You could always go into money laundering, very popular at the moment I hear. And if it all goes wrong you'll get the financial saving of free food and accomodation for five to ten years.

TBH if it were me, I'd be buying an American LHD vehicle, but that's because I spend a lot of time in Europe and driving a left hooker doesn't bother me. Choose the right one (see autotrader) and you can probebly sell it for more than you paid for it. Examples are the Mustang GT with the premium pack (sells for a very high price here -about £30K) and the "footballer's wives" SUVs such as the Lincoln Navigator or possibly the Infiniti FX45 although that's a dark horse as far as UK buyers are concerned.

Reply to
Steve Firth

LHD is ok (I suppose), but I wouldn't want a gas guzzler. an economical diesel would be the thing.

Reply to
Broons Bane

Broons Bane wrote

I reckon I should have your problem.... I'd sort it. ;-)

Reply to
Gordon

I know! It's embarassing to even ask :)

Reply to
Broons Bane

Do you have any local companies that source goods in the US for import to the UK?

They may be happy to establish an agreement with you whereupon they source goods with your money (USD) and pay you back with GBP once they have sold said goods? (With an agreed margin to cover your trouble, you understand!)

Artie

Reply to
Arturo Ui

Depending on the ultimate answer, find an account where it will earn some more!! There are a number of US especially online savings accounts which pay 5%+, or many offshore banks should be able to help, eg

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will give you 5.05% on USD, and should make it quicker to get the funds from USD to GBP when the moment comes. Ian

Reply to
ian.tomes

US rates are now higher than UK rates. 5.25% v 4.75%. I guess you should shop around for a better rate for your deposit.

Once you convert your money into a car, it doesn't really matter what currency you buy it in, except that you might have some exchange conversion costs.

Reply to
Jonathan Bryce

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