# Can I change currency from US Dollars to Euros and then to UK pounds?



## Jimbo2222 (29 Jan 2009)

I currently live in the USA, but am looking to move back to the UK. I have 300.000 US dollars.

At the current exhange rate I would get 210,000 UK pounds, however, if I were to change my US dollars into Euro's and then change the Euro's into UK pounds, I would end up with about 270,000 UK pounds, which is quite a big difference. 

Would I be able to do this? Are there any rules that would stop me from doing this. It seems too easy somehow. Also, if this is possible, how would I go about doing this? Through my bank? What kind of fees are involved in something like this? Any ideas anyone?

TIA
Jim


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## callybags (29 Jan 2009)

I Don't see how you have done your calculations...

$300,000 to Stg£ @ 1.43  gives          £209,790
$300,000to €       @ 1.30  gives         €230,769

€230,769   to STG£ @ .91 gives         £209,999

So you wind up with the same amount of Stg pounds ( less a load of bank charges)


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## jhegarty (29 Jan 2009)

If this were true you could keep converting $ -> € -> £ -> $ -> € -> £ -> $ ->...etc..etc..

and end up with all the money in the world.


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## Jimbo2222 (29 Jan 2009)

Yep, my mistake, ignore me, sorry.

When I did the last part of the conversion, I must have clicked on US dollar instead of UK pound, doh. Sorry to have wasted your time, but thanks for pointing out my mistake.

Jim


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## irishlinks (29 Jan 2009)

Assuming you are now going to convert straight from dollars to sterling - it will almost definitely be cheaper to use a currency broker for amounts as big as 300k dollars.
We used Currency Solutions to change sterling to Euros. As long as you have a dollar bank account and a sterling account to transfer it too - they will get you better rates than the banks.
They helped us with picking the right time to do the exchange - one day can make a big difference. It might be an better to keep some dollars if you don't need them all straight away - the exchange rate might improve in the future.


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