Euro Exchange Rate Rise - and some bad news

[TonyKath]

I keep an eye on the exchange rate via a legacy gizmo on my desktop from Vista/Win 7 but sadly not available for Win 8.  The exchange rate last year seemed to hover round €1.19 to the pound occasionally touching €1.22 before heading down again.  It's been going up over the last 6 weeks but with Mark Carney's comments about possible interest rate rises it is today at €2.253.  Which is great for tourists and ex-pats with GBP income, but not so good if you are earning in Euros and come back to the UK.

And the bad news......?  A 0.75 bottle of No 12 Ouzo is now £16.00 in Asda having been £12.85 a couple of years back.  And that despite the exchange rate!   

Been very pleasant for some No 12s in the garden early evening lately.   

Tony

[HiFi]

2.253??? Too much Ouzo despite the cost........

[BeeTee]

2.253? ... if only... if only.

[TonyKath]

2.253? ... if only... if only.

Oh yes it is!  Financial Times a few minutes ago:



http://markets.ft.com/research/Markets/Currencies

This is the official conversion rate and very unlikely to be what you get at the exchange desk!!!

Tony

[BeeTee]

2.253? ... if only... if only.

Oh yes it is!  Financial Times a few minutes ago:



http://markets.ft.com/research/Markets/Currencies

This is the official conversion rate and very unlikely to be what you get at the exchange desk!!!

Tony

Financial Times correct with rate of 1.2528 and sadly not 2.253 as mentioned in the opening post.

[U4ea]

To all visitors

You get thebest rate online. Book online to oickup either at the airport or your local Travel Agent of choice, or a Post Office or a Supermarket.

As an indication of the savings available, In early June I looked for what I'd get inEuros for £800. If I booked online Thomas Cook would give me a rate of 1.204, but if I booked inshop it wouldbe 1.17. Travelex offered €970 for £805 if booked online or €868 if I went to the counter at theairport without prior booking.

[TonyKath]

Just an update:  €1.25 now looking decidedly unfavourable!  Gizmo on my desktop now showing 1.382 and was 1.384 earlier this afternoon.  Been rising for a while what with Eurozone QE and the Greek situation.  What it will be come the summer months is anybody's guess.  I would have thought €1.40 very likely now - any bets on €1.50??!

HEALTH WARNING: These are official forex rates and not what you'll be able to get retail (see discussion above).

Tony

[TonyD]

I check every day, here and as has been said, the rate is really good at the moment

You'll see the rate available for tomorrow morning transaction is;

1.370 from a London bureau de change
1.353 from Debenhams

[TonyKath]

€1.37 is a cracking retail rate!
Tony

[TonyD]

Up again today, those rates are now 1.374 and 1.355, respectively.

[TonyKath]

"Official" rate €1.393 !!! 

Tony

[TonyKath]

Just crossed the €1.40 line.

Tony

[HiFi]

Many are forecasting (subject to Greece, Spain, Italy, Portugal) (oh and UK elections!) 1.45 during the season ahead with parity between the euro and the dollar......

[TonyKath]

Having reached €1.41 the euro has gone down over the last week, inc 1c today.  Now at €1.381. 

Tony

[Maik]

Pound vs euro: Should I buy holiday money now or after the election?

http://www.telegraph.co.uk/finance/personalfinance/investing/11512835/Pound-vs-euro-Should-I-buy-holiday-money-now-or-after-the-election.html

 

[TonyD]

I've read the article. I've read the professional's views, and I've read the amateur's comments.

I'm left with just one question;
Should I buy holiday money now or after the election?


Today's rates (London) are 1.35 at a BdC, or 1.34 at Debenhams / M&S

[TonyKath]

Very good question!  The article sums it up nicely.  If you buy now you will definitely have a better rate than your holiday last year.  That may be good enough for you and most of us.  If you want the "best rate" a) you should have bought on something like 10/03 and b) you you inevitably take a risk.  Wait and the £ could go down or take the exchange now and it could go up.  So buying now is the least risk of loss as opposed to not taking a gain.  Most people prefer to avoid a loss than missing a gain.  It all depends on what you want... and possibly when you go.  If the UK election triggers a drop in the pound - will it recover by the time you go?  The article surprisingly doesn't mention the situation in Greece which could change the strength of the € if things go badly wrong. 

BTW my AddGadgets Currency Meter packed up a couple of weeks ago but they have just released a revised version. www.addgadgets.com - crapware free as far as I can tell. 

Tony

[Maik]

Boost for holidaymakers as pound soars
News of a likely Tory victory sends the value of the pound up against the dollar and the euro

http://www.telegraph.co.uk/finance/personalfinance/11590543/Holidaymakers-face-currency-chaos-after-election.html

[TonyKath]

Back up to €1.380 after dropping 7c over the last 10 days.  Conservatives now very likely to get a small absolute majority so Euros will go higher to the pound, unless the speculators decide to take their (considerable) profits.

Tony

[TonyKath]

We got our euros earlier in the week when the wholesale rate was €1.38 having lost our nerve when it went down to €1.34.  It's now €1.40 not surprisingly.  Taking it all in cash as we usually do but aware of the current advice.  What we should have thought of was to take more of the smaller denominations as it could get hard to change bigger notes.  We arrive in Paxos on 29/06 - the day before D Day!

Tony

[Bryan-in-Kilkis]

Whatever happens, Tony, things will chug on as normal; for some while - I can't envisage cash becoming scarce immediately, so bigger notes shouldn't be a problem for you.

[Maik]

Should I buy euros now or will the pound get even stronger in 2016?
The pound hasn't been this strong against the euro since 2008. Is this as good as it gets? We ask leading thinkers in the world of finance

http://www.telegraph.co.uk/finance/personalfinance/12027406/Should-I-buy-euros-now-or-will-the-pound-get-even-stronger-in-2016.html

 


PS Hope you get some good Christmas offers on the ouzo, Tony!