Buy euros now, or later?

Buy euros now, or later?

Author
Discussion

Pulse

Original Poster:

10,922 posts

231 months

Thursday 5th May 2011
quotequote all
I hadn't reality it was almost at 1:1 now! Whoops.

We're going to Berlin in June and Amsterdam in August, so will need a sizeable amount of euros!

The question is, when and where to buy? Will it keep getting worse, or should I wait it out and hope for improvement?

Minel

479 posts

186 months

Thursday 5th May 2011
quotequote all
have been tracking this for a while, look at this...

http://www.xe.com/currencycharts/?from=GBP&to=...

you can change the time period in the chart, but this gives you an idea of the trend... tbh for a small ish amount you may as well change the money now...

Pulse

Original Poster:

10,922 posts

231 months

Thursday 5th May 2011
quotequote all
Ouch! Looks like we're screwed either way! hehe

It won't be a very small amount - several hundreds, and potentially pretty close to £1000 we'd be wanting to change, so it could make a huge impact.

Minel

479 posts

186 months

Thursday 5th May 2011
quotequote all
think about me then and feel better... i have a 5 figure sum I'd like to move for my new house deposit... biggrin

ringram

14,701 posts

261 months

Thursday 5th May 2011
quotequote all
later imo,

Markp13

422 posts

173 months

Thursday 5th May 2011
quotequote all
I got 1.08 yesterday. Not very exciting is it. 1 to 1 by all accounts

Welshbeef

49,633 posts

211 months

Thursday 5th May 2011
quotequote all
Few things to think about.

1. Reason it's got weaker recently is that the euro base rate has in creased and the expectation for sterling base rate rise is now later in the year

2. Consider also that euro base rate may well rise again thus if that happened pound would weaken further.

3. Potential good news is that uk tax receipts were stronger than planned and the defecit is less than expected by c£5billions. Thus could make it stronger.

4. Pretty much short to med term all that harms or strengthens the currency is it's inflation and base rate combo if it's a smaller gap as in inflation above base rate then that currency will be stronger if it's the reverse low inflation and high interest rates the country with the bigger gap will have a stronger exchange rate.


If I were you decide based on today's exchange rate what the total sterling cost would be then say what would it be if it cost 5% more ? Is it a train crash? Probably not as it would only be c£50 on a bag of sand.

Pulse

Original Poster:

10,922 posts

231 months

Thursday 5th May 2011
quotequote all
True. £50 is still £50 though! biggrin

Welshbeef

49,633 posts

211 months

Thursday 5th May 2011
quotequote all
Pulse said:
True. £50 is still £50 though! biggrin
yes but that's quite a % movement possible but unlikely so possibly less than that.
Frankly time is money

Chrisw666

22,655 posts

212 months

Friday 6th May 2011
quotequote all
Minel said:
have been tracking this for a while, look at this...

http://www.xe.com/currencycharts/?from=GBP&to=...

you can change the time period in the chart, but this gives you an idea of the trend... tbh for a small ish amount you may as well change the money now...
Can I have £2k worth at 2002 prices please?

maser_spyder

6,356 posts

195 months

Sunday 8th May 2011
quotequote all
I'll sell you some!

Pulse

Original Poster:

10,922 posts

231 months

Sunday 8th May 2011
quotequote all
maser_spyder said:
I'll sell you some!
At 1.2? winkhehe