Not having been to the UK for two years, I was rudely SHOCKED
by the devaluation of the US dollar (vs the British pound) which now
exceeded 2 USD for one pound, not to mention the extra rip off by
the money exchange charge for minimum commission for exchanging
USD to BP.
Example: The BEST money exchange booth at the airport got me
only 43.85 British pounds for $100 USD, because of the fixed
two pound commission IN addition to the unfavorable exchange
rate of well over $2 for each BP. Most other exchange booths
gave worse rates and add on 3 BP charge for each exchange
of $100 USD.
I remembered from previous visits that the London casinos gave
by far the best exchange rate from USD to BP. So, for comparison
purposes, I went to the (former) Park Lane Casino (now Rendezvous)
next door to the London Hilton to see what rate I could get.
On Aug 15, the date of my arrival when I got 43.85 BP/$100 USD
at the airport, I got 49.70 BP/$100 USD at the casino.
The next day, August 16, the rate got even better -- for $100 USD,
I got 49.90 BP in exchange.
That was over SIX BP per hundred USD better than the official
money booth exchange rates.
On August 15, I promptly exchanged $800 USD for 396.6 pounds,
which was nearly 50 pounds better than the exchange booth rates.
The casinos gives such favorable rates because most of the
clients would quickly lose most of the pounds they exchanged.
But one does NOT have to gamble wth the chips in pounds
exchange. One simply has to gamble a small amount (or not
gamble at all) and take the chips back to cash in for the British
pound currency (which as what I did, after winning 85 pounds
in about 10 minutes of Blackjack playing
and a betting purse of 145 pounds from the 397.60 BP exchange>.
I exchanged more the next day at the 49.90/$100USD rate and
used the BPs to exchange for Euros (without exchange
commission in the exchange booths in Chinatown).
So, that's the moral of this story -- the BEST exchange rates
you can get at UK are at its casinos. (Much better than banks
or ATM machines or money exchange booths).
The money shock was that the LEAST amount any shop
or store charge for a 10 oz soft drink in can or bottle was
70 pence ($1.40 USD). One of the worst shocks was
that ONE stick of shrimp tamura (for a 3-inch shrimp) that
my wife thought was outrageous to cost $1.00 in Atlanta,
was sold at 3 British pounds at Harrods (that's $9 for one
tiny shrimp. :-)). The continental breakfast at the Hilton
was $19.90 POUNDS (or about $40 USD).
I am ready to board the Princess in Southampton
tomorrow for the Mediterrean cruise. BTW, the
Victoria Coach station coach (bus) costs only 11
British pounds for a one way over-60 one-way fare
(2.5 hours) from London to Southampton, whereas
the TRAIN at the Victoria station takes 1 hour
shorter and about 20 more pounds per person.
End of editorial on pragmatic economics of BP vs USD.
-- Reef Fish Bob.
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