Forum Moderators: martinibuster
Just receive a cheque from adsense and stuck on what to do. Being in the UK means the money needs to be converted to pounds. Now at the moment its clear the dollar is relatively weak, but what I want to ask is ..
Will the dollars strength rise any time soon ( meaning I should hold on to my check for a while ) or is the current exchange rate likely to stick and therefore I should just pay the bank a visit and cash this cheque?
Appreciate any replies.
Most analysts say the dollar could still lose around 10/15% in the next 4/6 weeks.
By the way, Google takes euros from my Adwords account and pays with dollars to my Adsense account.
Mauricio: Yep, intersting. I wonder if our CPM in $ raises while the dollar is going down?
Most of the ads are from Germany so I think most of ourt customers pay in euro.
If Google converts those euro to dollar with the most recent exchange rate, everything should be ok and our CPM should be relatively high.
Will the dollars strength rise any time soon
Only if interest rates rise significantly (does anyone else here remember the mid-1970s?), making U.S. government securities more attractive to China, Japan, and other countries that are nervous about the federal deficit and have been shifting investments into euros.
If I were you, I'd just cash the check.
It's so bad in fact, that you might even want to consider setting up a US dollar account if you can, then you might be able to spend it without having to incur the wicked exchange losses.
EFV: Raising interest rates won't help as they have historically. The fed has hiked them up recently and the dollar only took a short pause on its downward plunge.
The good thing of course, is that it will be cheaper to buy and invest in american goods, which is the whole point of the exercise.
Will the dollars strength rise any time soon ( meaning I should hold on to my check for a while ) or is the current exchange rate likely to stick and therefore I should just pay the bank a visit and cash this cheque?
In the time since you wrote that post your cheque is worth 0.2% less - eg for every £10 pounds that the cheque was worth yesterday, the cheque is no worth £9.986 (and this trend is continuing because America has two deficits - a trade one and a budget one). Pay the cheque in - and get it cleared the same day (eg negotiation vs collection). If you chose collection, by the time the cheque is sent back to the States and the money credited to your account etc - the exchange rate will have worsened so much it'll really eat into your profits. You can pay it into any bank account - just like a normal cheque in pounds.
So how long are Google checks valid for?
6 months - from adsense support :)
Six months sounds just about long enough for..
1)Checks to arrive at the UK
2)then to be sent on to me in Madrid
3)returned to the UK signed on the back
4)presented at the bank
6)sent back to the US for clearance
7)for the funds to arrive back at my UK bank.
8)and be converted from GBP to EUR
9)and and last but not least to be transferred to Madrid so I can spend it!
I bet you all thought your lives were complicated!
Good that my adwords account is also running in dollars and not in euros :-)
