Help from Money Experts.

[BensGrandad]

The rate of exchange for the pound in Euros is awful at the moment, Tesco giving 1.13 today. What is the likelihood of it improving in the next 5 months as I am going to Cyprus in June. Radio Sussex said on Sunday that the Greek Islands were cheaper than last year but not sure if that included Cyprus, due to the poor Euro.

 

[middletoenail]

Let me get my crystal ball out sir, one moment.

 

[BensGrandad]

Why has the value of the pound/euro dropped so badly is it due to DC and his euro in or out poll for the next government.

 

[Mancgull]

First of all, make sure you shop around for the best deal currently on the market. M&S are pretty good for fx deals at the lower end. Sentiment towards the euro isn't bad at present, thus the poor rates. You can take a gamble on it worsening, but frankly I'm not sure it will in the short term. The biggest issue you will have is converting your euros back to sterling if you want to cash in your excess money.The spreads on doing this are huge. Therefore, the best thing you can do is not to over buy euros. Pm me if you want more detail. (I'm in the business of fx)

 

[spongy]

Amex travellers cheques, cash them in as and when needed, search for the better exchange rates when there, insured and no exchange back either.

 

[BensGrandad]

Are Amex travellers cheques the best or are you just going for them due to our stadium etc.

 

[seagullsslimjim]

bookmark this comparison site for the best rates

Cheap Travel Money | TravelMoneyMax.com | Compare to get the best foreign currency exchange rates with the Travel Money Maximiser

 

[tedebear]

Wait, and be patient, it with strenghten....(in 2016)

 

[Herr Tubthumper]

If anyone knows a decent foreign exchange broker for larger amounts please let me know. Travelex seem to be the best at the moment so anyone who can better them please.

 

[Mancgull]

Most banks will give better rates for higher quantities. Ask them and shop around. It's a commodity.

 

[LamieRobertson]

Let me get my crystal ball out sir, one moment.

about sums it up...all guesswork...if you are buying a lot..phase the buys

 

[LamieRobertson]

Why has the value of the pound/euro dropped so badly is it due to DC and his euro in or out poll for the next government.

its because the euro isent quite under such of a threat as was perceived..course its all bubbling away under the surface...and we arent doing tht well

 

[Northstandite]

Why has the value of the pound/euro dropped so badly is it due to DC and his euro in or out poll for the next government.

Weird.

The rate is about exactly the same as when good old Gordon Brown, Balls and Moribund handed over a 'fantastic' UK economy.

That is, both historically awful rates, if you are travelling to the Eurozone.

 

[Cadiz Seagull]

I've got euros I will be bringing to UK in a couple of weeks which I intend to change into sterling there. We could do a private deal between us and save ourselves both a chunk of money. I'll be at the Burnley game on the 23rd. PM me if interested.

 

[mwrpoole]

I would get your Euro's ASAP, it is very unlikely to get better and likely to get worse. The reason is that the UK is no longer considered to be a 'safe haven' coupled with the Euro being viewed not as risky as previously thought. Also our A+++ credit rating is under threat and if we lose that it will plummet.

 

[Vegas Seagull]

Brighton Coin Shop in Ship St has been the best place for decades for ALL amounts of currency
Forget travellers cheques, hard work trying to cash, use hotel safe or wallet no'one ever gets mugged

 

[Titus]

Radio Sussex said on Sunday that the Greek Islands were cheaper than last year but not sure if that included Cyprus, due to the poor Euro.

Cyprus is not a Greek Island.

 

[kingcole]

Yes, the exchange rate is shite at the moment, but people really do over estimate how much it affects them. So, a two week trip ? Budget of €200 a day ? That's €2800 spending money required. That's £2477.

The Euro reached a short term peak of 1.28 a couple of months ago. The tourist (Tesco Rate) would then have been about 1.24. Even had you grabbed this 'best' rate, you would have been in for £2258.

So, although a big movement, the cost to you on a €200 a day budget is about £15 a day. If you budget is less than €200 or if you don't need as much as all inclusive etc, it will be even less.

 

[Boroseagull]

Just for holiday spending, take minimum amount of cash but ensure you have & use either Nationwide or Halifax Clarity credit card. Both of these give you full inter-bank exchange rates without any charges being deducted.

 

[BensGrandad]

The Radio Sussex said on Sunday that the Greek Islands were cheaper than last year but not sure if that included Cyprus, due to the poor Euro.

Cyprus is not a Greek Island.

Hence my post saying so.