I'm never sure why people get so hung up on exchange rates, unless you're planning on buying a house while you're out there the difference in 1.16 and 1.20 is minimal for your summer hols.
I'd have thought the value of sterling was a pretty important long term issue, that's why the UK did not join the Euro in the first place.
Travelling overseas is now significantly more expensive for Britons, but at least Nigel got to tell the Brussels bureaucrats to go fuck themselves, so that's worked out pretty well on balance.
Is it going to be long term then? When you say long term, do you mean the next 5, 10, 20 or 100 years?
Well, who knows? But there are clues. In 1850 a pound bought you $4.35, in 1950 it was $4.02. (That's why half-a-crown was also known as half-a-dollar.) Long term, cable appears to be a one-way bet. Take a holiday now appears to be the best advice.
post code and mile radius gives you the best rate closest to you, as mentioned thomas global are usually unbeatable. if your paying by card need id with you though.
I'd have thought the value of sterling was a pretty important long term issue, that's why the UK did not join the Euro in the first place.
Travelling overseas is now significantly more expensive for Britons, but at least Nigel got to tell the Brussels bureaucrats to go fuck themselves, so that's worked out pretty well on balance.
Is it going to be long term then? When you say long term, do you mean the next 5, 10, 20 or 100 years?
Well, who knows? But there are clues. In 1850 a pound bought you $4.35, in 1950 it was $4.02. (That's why half-a-crown was also known as half-a-dollar.) Long term, cable appears to be a one-way bet. Take a holiday now appears to be the best advice.
So if you bought euros today for your holiday and compare that to a few months back you now find yourself down by about the price of a pizza and a beer. If things are that tight it would probably be best to stay at home. The holiday pound exchange rates might be a touch irritating for us but the bigger picture of pound exchange rates should be real cause for concern.
Where? It closed at 1.15597 last night. You aren't going to get 1.23 retail!
Thinking more about this, if you can get me that rate and I sweated the assets by the end of the day we'd both be billionaires and could make Duchatelet an offer he couldn't refuse.
So if you bought euros today for your holiday and compare that to a few months back you now find yourself down by about the price of a pizza and a beer. If things are that tight it would probably be best to stay at home. The holiday pound exchange rates might be a touch irritating for us but the bigger picture of pound exchange rates should be real cause for concern.
Not true. A few months back I got 1.39 - that is .24 difference. On £1000 that is €240 - somewhat more than a pint and a pizza. There seem to be a lot of rich people on this list. Others of us have to be more careful if we want to enjoy a holiday abroad even if you think we should stay at home.
Never looked but if you go on eBay or similar and type euro at spot don't people trade their own currency direct there or somewhere else. Would make sense for those going to / returning from holiday.
We have an internal site at my work which allows basically this and is where I get my holiday money from usually.
Don't most people decide I've got X amount of sterling that I going to take with me and spend and then try to get the best exchange rate as opposed to wanting a set amount of €s to take with them?
So if you bought euros today for your holiday and compare that to a few months back you now find yourself down by about the price of a pizza and a beer. If things are that tight it would probably be best to stay at home. The holiday pound exchange rates might be a touch irritating for us but the bigger picture of pound exchange rates should be real cause for concern.
Not true. A few months back I got 1.39 - that is .24 difference. On £1000 that is €240 - somewhat more than a pint and a pizza. There seem to be a lot of rich people on this list. Others of us have to be more careful if we want to enjoy a holiday abroad even if you think we should stay at home.
I'm off to Amsterdam on Monday, haven't got my euros yet. I'm sure I'll get a good enough deal to pay for what I want over there.
Ah, I'm there Saturday to Monday! A catch up err, beer would have been cool. My train out is at 12:30.
Are you still tempted by Fleetwood next month? Stew is booked up now.
@RedPanda I'll probably be emerging from Central Station at about 10.30am if no delays so a quick meet might be a goer. I'll text you on Monday morning.
Fleetwood might be happening, have to juggle a shift at work but I fancy it.
So if you bought euros today for your holiday and compare that to a few months back you now find yourself down by about the price of a pizza and a beer. If things are that tight it would probably be best to stay at home. 1.39 The holiday pound exchange rates might be a touch irritating for us but the bigger picture of pound exchange rates should be real cause for concern.
Not true. A few months back I got 1.39 - that is .24 difference. On £1000 that is €240 - somewhat more than a pint and a pizza. There seem to be a lot of rich people on this list. Others of us have to be more careful if we want to enjoy a holiday abroad even if you think we should stay at home.
your 1.39 was a false rate at the peak when there were all sorts of problems in Euroland. To put it in perspective, current rates are about where they were 2 years ago. This was also a low. To put it in a bit more perspective the current rate of around 1.16 compares to a 5 year average of around 1.25.
So if you bought euros today for your holiday and compare that to a few months back you now find yourself down by about the price of a pizza and a beer. If things are that tight it would probably be best to stay at home. 1.39 The holiday pound exchange rates might be a touch irritating for us but the bigger picture of pound exchange rates should be real cause for concern.
Not true. A few months back I got 1.39 - that is .24 difference. On £1000 that is €240 - somewhat more than a pint and a pizza. There seem to be a lot of rich people on this list. Others of us have to be more careful if we want to enjoy a holiday abroad even if you think we should stay at home.
your 1.39 was a false rate at the peak when there were all sorts of problems in Euroland. To put it in perspective, current rates are about where they were 2 years ago. This was also a low. To put it in a bit more perspective the current rate of around 1.16 compares to a 5 year average of around 1.25.
A false rate doesn't change the fact he gets €240 less though.
Going Portugal late September, hoping to eek out as much as i can from €500, thankfully I bought it in March in anticipation
Still sour grapes from the same old posters over Brexit, christ, its done, move on. Attached is the rate in 2009, if memory serves me well, we were still in the EU dictatorship then.
RE the OP, just go all inclusive Hols, no need for money if you do....
Still sour grapes from the same old posters over Brexit, christ, its done, move on. Attached is the rate in 2009, if memory serves me well, we were still in the EU dictatorship then.
RE the OP, just go all inclusive Hols, no need for money if you do....
Good suggestion. @DiscoCAFC should borrow your time machine and book all inclusive instead of whatever he/she booked.
To the OP, I doubt it's going to move very much between now and next month. It probably depends on your bank whether it's cheaper to use ATM there or buy currency at home. I would say you're likely to get a good rate in Spain.
second vote for the Halifax clarity card....take minimal cash, stick it all on the card, pay it off fully at the end and you'll be certain of pretty much the best rate available on the day...been using it for a few years now and it's great... Otherwise, I tend to go the currency exchange in Cvt Gdn market for whatever cash I do want to take...
RE the OP, just go all inclusive Hols, no need for money if you do....
But won’t they be going up because UK companies will still have to purchase the hotel rooms, meals etc beforehand in Euros? You’re also restricted to lame beach holidays.
I agree with IA, because of work I check the exchange rate most days. Right now is a little worse than a few weeks ago. That may change in a month but only marginally.
The £ is still trading within the range it has always moved within. No one makes money second guessing the exchange rate, only traders who are just another branch of Corals. Sensible posts about avoiding charges, they are worse than the exchange rate movements.
It's tough shit if exchange rates don't coincide with when you are going on holiday or buying an asset priced in another currency, but that's how it's always been and Brexit is simply an ingredient that is affecting short term movements.
The Euro long term is far more exposed to negative impacts of Brexit than the £, and if you are a true Remainer you will be filling your boots with Euros for next year's holiday instead of putting pounds in your piggy bank.
@Ormiston Addick said "I'd have thought the value of sterling was a pretty important long term issue, that's why the UK did not join the Euro in the first place". Nothing of the kind, we kept out of the Euro to retain control of UK interest rates and monetary policy particularly in view of its significance for mortgage rates in the UK.
Still sour grapes from the same old posters over Brexit, christ, its done, move on. Attached is the rate in 2009, if memory serves me well, we were still in the EU dictatorship then.
RE the OP, just go all inclusive Hols, no need for money if you do....
Still sour grapes from the same old posters over Brexit, christ, its done, move on. Attached is the rate in 2009, if memory serves me well, we were still in the EU dictatorship then.
RE the OP, just go all inclusive Hols, no need for money if you do....
I advise businesses on FX and write articles for business magazines on the issue. Sept publication covers the night of the referendum and the movements seen during c. 12 hours. However on holiday money I'm afraid your alternatives are limited. Businesses can buy options (derivatives). Even those buying property can do so, but for smaller (appreciate £1k is not small but in an FX market that trades $5.3trn a day it is) deals you can only buy "spot". Which means but it months in advance or wait til you need it. I'm afraid the referendum was unexpected. The move to 1.4000 was a result on exit polls saying we had voted "remain". The subsequent c 12% fall was as the result became apparent. Buy now or wait? That is where others have rightly said 1.1600 to 1.1500 or similar is a small difference. The boat has gone for 1.4000 for some time. HSBC are calling GBPEUR to parity by year end. lloyds are calling it to 1.1900. the big boys don't know, so unless you can buy options (probably £50k or more) you have little choice than to bite the bullet. Sorry.
@MrOneLung that's a great perk. Used to be like that at Barclays when I started in the late 80s, but they shut that benefit down years ago. A shame as the spread we have on Euros now is disgraceful.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
I advise businesses on FX and write articles for business magazines on the issue. Sept publication covers the night of the referendum and the movements seen during c. 12 hours. However on holiday money I'm afraid your alternatives are limited. Businesses can buy options (derivatives). Even those buying property can do so, but for smaller (appreciate £1k is not small but in an FX market that trades $5.3trn a day it is) deals you can only buy "spot". Which means but it months in advance or wait til you need it. I'm afraid the referendum was unexpected. The move to 1.4000 was a result on exit polls saying we had voted "remain". The subsequent c 12% fall was as the result became apparent. Buy now or wait? That is where others have rightly said 1.1600 to 1.1500 or similar is a small difference. The boat has gone for 1.4000 for some time. HSBC are calling GBPEUR to parity by year end. lloyds are calling it to 1.1900. the big boys don't know, so unless you can buy options (probably £50k or more) you have little choice than to bite the bullet. Sorry.
Thanks @Cambridge Barclays are real outliers here. They believe that Euro weakness will come through in the latter part of the year/early 2017 and have the following as their current forecasts for 2016/2017
Q3: 1.19 Q4: 1.28 Q1: 1.42
Bear in mind that that 6 weeks ago, they were forecasting 1.28 / 1.37 / 1.45 respectively, so the Euro weakness (not sterling strength) they were expecting isn't coming through as expected. That said, they aren't the wildest forecast out there, but personally I can see GBP weakness offsetting anything on the Euro for a lot longer than the next 3 quarters.
Comments
Long term, cable appears to be a one-way bet.
Take a holiday now appears to be the best advice.
post code and mile radius gives you the best rate closest to you, as mentioned thomas global are usually unbeatable. if your paying by card need id with you though.
Are you still tempted by Fleetwood next month? Stew is booked up now.
The holiday pound exchange rates might be a touch irritating for us but the bigger picture of pound exchange rates should be real cause for concern.
We have an internal site at my work which allows basically this and is where I get my holiday money from usually.
Then you end up bringing €s back with you.
@RedPanda I'll probably be emerging from Central Station at about 10.30am if no delays so a quick meet might be a goer. I'll text you on Monday morning.
Fleetwood might be happening, have to juggle a shift at work but I fancy it.
Going Portugal late September, hoping to eek out as much as i can from €500, thankfully I bought it in March in anticipation
Attached is the rate in 2009, if memory serves me well, we were still in the EU dictatorship then.
RE the OP, just go all inclusive Hols, no need for money if you do....
To the OP, I doubt it's going to move very much between now and next month. It probably depends on your bank whether it's cheaper to use ATM there or buy currency at home. I would say you're likely to get a good rate in Spain.
I agree with IA, because of work I check the exchange rate most days. Right now is a little worse than a few weeks ago. That may change in a month but only marginally.
Not in time for your hols though.
Just got my euros at 1.3190
(caveat - I work for moneycorp so I can purchase at the buy rate
It's tough shit if exchange rates don't coincide with when you are going on holiday or buying an asset priced in another currency, but that's how it's always been and Brexit is simply an ingredient that is affecting short term movements.
The Euro long term is far more exposed to negative impacts of Brexit than the £, and if you are a true Remainer you will be filling your boots with Euros for next year's holiday instead of putting pounds in your piggy bank.
@Ormiston Addick said "I'd have thought the value of sterling was a pretty important long term issue, that's why the UK did not join the Euro in the first place". Nothing of the kind, we kept out of the Euro to retain control of UK interest rates and monetary policy particularly in view of its significance for mortgage rates in the UK.
Buy now or wait? That is where others have rightly said 1.1600 to 1.1500 or similar is a small difference. The boat has gone for 1.4000 for some time. HSBC are calling GBPEUR to parity by year end. lloyds are calling it to 1.1900. the big boys don't know, so unless you can buy options (probably £50k or more) you have little choice than to bite the bullet. Sorry.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
Q3: 1.19
Q4: 1.28
Q1: 1.42
Bear in mind that that 6 weeks ago, they were forecasting 1.28 / 1.37 / 1.45 respectively, so the Euro weakness (not sterling strength) they were expecting isn't coming through as expected. That said, they aren't the wildest forecast out there, but personally I can see GBP weakness offsetting anything on the Euro for a lot longer than the next 3 quarters.