Although I live in Kenya, I would find this UK forum helpful, and have hope that someone will answer my query shortly. I'm currently doing ABE level 4 diploma and in ABE you need to register your yourself and pay the exam fees yourself, the student does everything directly with ABE. So, my concern is the exchange rate between Kenya Shillings (KES) and British sterling pounds (GBP); Today, 15th Jun 2012, the exchange rate is KSh132.0857 per Pound, so my query is in August will the exchange rate become better: that is, will the pound depreciate and become cheaper for me; anyone knows any websites that predict exchange rates? or can someone out there, who's dealt with exchange rates and has a lot of experience, predict for me whether the pound will become cheaper, depreciate, for me whose using the Kenyan Shilling by August 2012. I'm tend to ask because my teacher said that our college will pay as a class in August and I shouldn't pay now because in August the exchange rate will be cheaper for us (Kenyans). Please help me out.
Currency drops are virtually unpredictable especially in an unstable economy, you'd be a very rich man if you could tell people by how much their currency will rise or fall. My advice would be to look at the previous rises and drops and try make and make your own hypothesis.
What you can do is split the fees into say 5 pieces and then purchase your Sterling in 5 lots between now and August. This will help to smooth out fluctuations in the exchange rate. You should however pay attention to the costs associated with changing your money, these may be increased by performing a larger number of transactions.