Is it worth starting taking payments in GBP??

Discussion in 'Payments' started by Awareness, May 22, 2007.

  1. #1
    Seeing the weakness of the dollar against the rupee.

    Is it worth starting taking payments in GBP??
    :confused::confused:
     
    Awareness, May 22, 2007 IP
  2. rcj662

    rcj662 Guest

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    #2
    Depends on how your going to use the money. If you have to exchange the money you will loose more money than it is worth.
     
    rcj662, May 22, 2007 IP
  3. miko67

    miko67 Well-Known Member

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    #3
    Three concerns:

    1. Get paid in the currency you are going to spend it in. save the cost of exchange.
    2. Get paid in more than one currency (if you are accumulating...). Security issue.
    3. Get paid in the currency that your customers feel good about. Rather get the money in a ridicules currency than not at all.
    /miko67
     
    miko67, May 22, 2007 IP
  4. nabiha

    nabiha Peon

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    #4
    I think it is good. Dollar is going down while others are going up.

    I will just give you my example. I started receiving money in DOLLAR about 2+ years ago.

    Then it was $1 = 61.50 and now it is $1 = 60.40
    At that time Euro 1 = 51.xx and now it is Euro 1 = 81.55
    (Years old conversions are estimated only)

    And most of that money I have received is savings. So you can see if I would have received Euro I would have made money rather than loosing it.

    Just personal opinion to shift. I have shifted about couple of months ago and it has risen from 80.50 to 81.50 :)
     
    nabiha, May 24, 2007 IP
  5. miko67

    miko67 Well-Known Member

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    #5
    If you have cash holdings accumulating over years then there is a good point in speculating just a little bit about which one to choose. Just remember that costs of converting currencies may easily take away all profits.
     
    miko67, May 26, 2007 IP
  6. Awareness

    Awareness Banned

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    #6
    Thxs for the advice.But need more.
     
    Awareness, May 31, 2007 IP