Euros V ú

[RichardW1]

Hi

At the moment the £ is weak against the euro. In July we are going to Spain, do you think it would be wise to buy my Euros now (£500) or wait and see how the exchange rate goes. Last year I got the best rate using my nationwide debit card however, I'm wondering how much could the rate change between now and July. Should I buy now, wait and see, or put it in my nationwide flexi account & use my debit card ?

Richard/Maria

 

[Mac2]

Richard/Maria,

If we knew that we would all be millionaires !!

I would buy half now and the other half on holiday. That way you split any change. Personally I think the pound will drop further against the Euro.

 

[rob_jax]

Richard,

If I knew the answer to currency market futures, I wouldn't need to work for a living.

What could happen? The Pound is currently at a low against the Euro and it could easily recover, or it could continue to slowly slip, or it could stay at roughly the same level.

What has happened? Over the last 6 months of 2007, the Pound lost around 8% in value against the Euro, and as lost a similar amount since then. (Happily I'm paid in Euro with our main home in the UK - so it's like a 15% pay rise - big smile)

If that rate of loss continues, then you would expect the Pound to slip another 3 or 4% in value before you go on vacation. So buying Euro now could save you some money - but you wouldn't be earning interest on any money you convert, so you'd lose maybe 1 or 2% in missed interest at the same time.

So maybe just putting it in a Flex account would do?

Robert

 

[KeithJ]

Hi Richard

The banks' rate is currently about 1.24 euros to the pound sterling. In my experience you will get somewhere near this if you use your Nationwide cards, whereas if you change cash in the UK you will get nearer 1.18. Obviously I don't know your circumstances, but, personally I wouldn't take anywhere near as much cash as

 

[RichardW1]

Hi

yes bit of a stupid question realy but thanks anyway.

Richard/maria

 

[GrahamSouthBrum]

On a money program the other day, the so called experts were expecting the

 

[John_Boy]

Thats nice of the experts, I bet they have a few bob on that happening being so in the know ;-)

 

[Guest]

It is all part of a plan by 'girning Gordon' to get us into the Euro at parity without him taking the blame. Sounds familiar? Costs will rocket and he will be nowhere to be found.

Demand to be paid in Euros by your employer or you will claim it is against EU policy. Alternatively, state you are a non-dom because you have a caravan.

If you have a good holiday then what matters the cost?

 

[DeliDave]

we got

 

[giovanni_5060838]

Clearly the euros overvalued,and the eurozone is now starting to feel the pinch.

Whilst i don't expect any drastic fall in the Euro,it will need to fall against the pound and others soon,so as not to speed up or cause a recession in the eurozone down to it being very high strength.

So i am holding out till the begining of july