Thursday, March 24, 2016

Exchange rate


If you can read that, you should be a banker.  What it's saying is that when I moved to the UK and transferred my dollars to pounds, I got approximately 1 pound for every two dollars.  Had I waited a month longer, I would have gotten 1 pound for every $1.50 (or less).  In other words, I would have gotten 25% more pounds for the same number of dollars.  I was pretty gutted at the time.

However, thanks to the "Brexit" (Britain's referendum on whether or not to stay in the EU) the pound has been hammered again, Being in New Zealand this shouldn't affect me, except I've still got debt in the UK.  Since I'm being paid in US dollars again, I'm paying off that debt much faster.  This is, for every 100 US dollar payment I would normally pay off £65 but I'm now paying off £75!  

Now just 53 more payments to go...

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