Foreign Exchange Dollar Sterling
We now offer a limited but highly competitive foreign exchange service between US Dollars $ (USD) and Pounds Sterling £ (GBP).
Commission free and half price compared with most major banks, post offices and bureaus de change.
On amounts of £100 or more, we charge approximately 2% "turn" on current spot rates.
US$ Dollars - GBP £ Pounds Sterling
Current spot rate for indication. Press "refresh" or "F5" for update.
Notes
The spot prices shown above are international mid rates for indication only.
Our buy - sell prices will be 2% above and below the current mid rates, subject to rounding.
This is about half the usual rates charged by most other foreign exchange traders.
This service is primarily for personal callers to our premises, and is subject to availability. Passport and other ID required including home address. Large transactions may need to comply with other anti-money-laundering requirements.
We buy and sell banknotes.
Forex Price Comparisons
A simple way to check the competitiveness of your usual foreign exchange service is to take their buy and sell prices, and divide the larger figure by the smaller figure, so for example, if your local bureau de change is quoting buy 1.90 sell 1.70, divide 1.90/1.70 = 1.1176; at this they would be making 11.76% "spread", or 5.88% "turn". Typically most exchange bureaux charge about 10% spread or 5% turn. By "turn", we mean half the total spread, roughly equal to their profit on an individual deal, less their costs.
As we wrote this page, we noticed one major dealer proudly claiming "compare our prices", and quoting "High Street Bank 1.7045, Travel Agency 1.700 Our Rates 1.709". At the time mid spot was 1.8040, and our own sell rate would have been about $1.768 to the pound. Their rates worked out at 5.5% turn (profit). Our buy rate would have been about $1.84 = £1.
Dollar Sterling Rates for 2005
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