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grath
22-03-2017, 07:58
When are you buying?
Brexit triggered next week, are you buying now or are you waiting?
We were very lucky last year, we managed to buy at a very good rate, on the night of the referendum, and after we knew the result. We won't be that lucky again!
I am thinking of buying some very soon!
I use both Caxton and Fairfx pre pay (load)cards

Wully
22-03-2017, 08:09
I done the same thing last year was going to Canada loaded Caxton card a couple of days before the brexit vote. I left card at home by mistake so used Canadian cash I had. When I got home I transferred dollars back to pounds and made a profit of just over £100 it's like a form of gambling. I'm off on the 8 April to France so I think I'll change this week £ will take a hammering I think

El Veterano
22-03-2017, 08:09
I used to use HiFX but have now swithched to Xendpay Xendpay | The world?s first free money transfer service (https://www.xendpay.com/?_ga=1.151427966.677077002.1482137153) as they give a slightly better rate , by that I mean 1 or 2 cents, but that can make quite a difference if you are changing thousands. The current rate that I am getting is 1 GBP = 1.15322 EUR, which is pretty appalling compared to what you would have got pre referrendum (thanks again Brexiteers). The best I have seen in recent months is €1.18 but don't expect to see that again anytime soon - but you never know. What difference will the triggering of Article 50 have, once again who knows, but my feeling is it will fall even lower as there is clearly nothing good financially to come of that.

channa
22-03-2017, 08:29
I used to use HiFX but have now swithched to Xendpay Xendpay | The world?s first free money transfer service (https://www.xendpay.com/?_ga=1.151427966.677077002.1482137153) as they give a slightly better rate , by that I mean 1 or 2 cents, but that can make quite a difference if you are changing thousands. The current rate that I am getting is 1 GBP = 1.15322 EUR, which is pretty appalling compared to what you would have got pre referrendum (thanks again Brexiteers). The best I have seen in recent months is €1.18 but don't expect to see that again anytime soon - but you never know. What difference will the triggering of Article 50 have, once again who knows, but my feeling is it will fall even lower as there is clearly nothing good financially to come of that.

I think without a doubt markets will be unsettled as soon as article 50 is triggered. But there is also a chance the euro will drop too. Which people seem to be ignoring. I make that statement on the basis a major player in the European Zone has thrown its ticket in so that could affect the Euro too.

Academic for me I am skint anyway, But I think at this stage if I had savings I would be looking at investing in gold. Then transferring back to Sterling or Euros.

It doesn't help if going on holiday I suppose, But IF sterling does nosedive (or Euro) at some stage the market will consider the currencies possibly undervalued and will buy again.

The alternative is possibly the US dollar, However the US is I consider volatile itself at the moment with the new regime

Channa

mark61
22-03-2017, 08:32
Hopefully away end of April so may change some this week too.

Cass
22-03-2017, 08:43
Ive thought about getting some now, but were not away until June and as I'm a last minute person, I'm going to take a chance and hold out, like Channa I have also thought that its not only the £1 that will be affected and there is every chance the Euro will fall, and if the worst comes and the exchange rate is really low then we will simply change our plans and stay in the UK, with 3 months to go I'm not going to start stressing about it yet, that's one of the advantages of motor homing.

grath
22-03-2017, 08:46
Yea, agree that the Euro could also fall, certainly not out of the question, and I do think sterling will go higher, but when is another question.
Regarding Gold, you then have buying and selling fee's, also possibly storage!
I am tempted to buy some Euros, as I think there is more chance of downside for the pound in the short term, than any upside!

grath
22-03-2017, 09:01
It says Best performing World Currency

Pound to euro exchange rate live: Sterling soars to recovery after Brexit dip | Daily Star (http://www.dailystar.co.uk/travel-news-cheap-uk-holidays-luxury-breaks-more-daily-star/598630/Pound-to-euro-exchange-rate-today-sterling-soars-Brexit-Article-50-currency)

British Pounds to Euros - 30 Day Graph - Exchange Rates (http://www.exchange-rates.org/history/EUR/GBP/G/30)

Neckender
22-03-2017, 09:22
I don't bother with politics, I don't understand half of it, so when we need euros I just go out and by whatever the rate is.

John.

Wooie1958
22-03-2017, 09:28
Exactly the same thought was going through my mind this morning :rolleyes2:

Last year i timed it to perfection and threw a big chuck of money on the Caxton FX card early and got 1.4105 euro to the pound.

It dropped whilst we was away and a top up was decidedly lower than that but still a lot healthier than today`s rate and still have some left on it :sad:

Think i`ll go ahead and chuck some more euros on the card now rather than wait until after it been triggered next week :idea:

El Veterano
22-03-2017, 09:43
It says Best performing World Currency

Pound to euro exchange rate live: Sterling soars to recovery after Brexit dip | Daily Star (http://www.dailystar.co.uk/travel-news-cheap-uk-holidays-luxury-breaks-more-daily-star/598630/Pound-to-euro-exchange-rate-today-sterling-soars-Brexit-Article-50-currency)

British Pounds to Euros - 30 Day Graph - Exchange Rates (http://www.exchange-rates.org/history/EUR/GBP/G/30)

I really don't think the Daily Star is exactely the best place to get financial advice from, and I wouldn't call a rise of one Euro cent a 'huge spike' either. But the 30 day graph is interesting and just goes to show, if you look at the 90 day graph, how volatile the pound is. For sure the Euro could weaken as well but it will have a long way to go to reach the catastrophic depths of the pound since the referrendum.

grath
22-03-2017, 11:09
I really don't think the Daily Star is exactely the best place to get financial advice from, and I wouldn't call a rise of one Euro cent a 'huge spike' either. But the 30 day graph is interesting and just goes to show, if you look at the 90 day graph, how volatile the pound is. For sure the Euro could weaken as well but it will have a long way to go to reach the catastrophic depths of the pound since the referrendum.

I agree about the d star. It was the quickest example i found. Obviously do your own research

Pauljenny
22-03-2017, 11:35
Hey ho!
It's only money.
Us millionaire playboys don't waste precious sunbathing time on such fripperies.
I remember when we hit 1€ to£1, in 2008.
Ex-pats, out here, were all doom, gloom and panic.

We're still here.

What goes round comes round.
Ps.. I have been known to be wrong,says The Wife.:confused:

grath
22-03-2017, 13:21
Pound to Euro Exchange Rate Forecasts + News 2017 | 2018 (https://www.poundsterlinglive.com/eur)

Technical Review: Pound to Continue Edging Higher Against Euro Near-Term (https://www.poundsterlinglive.com/eur/6424-pound-to-euro-midweek-review-2)

Pauljenny
22-03-2017, 13:26
My Guru, Martin Lewis of Money Saving Expert, says not to, as Brexit day, 29 th March, is already factored in.

So I'm hanging onto my pittance.

grath
22-03-2017, 13:52
At the time of posting, both Tesco and Sainsbury are giving a slightly better rate for cash, than loading the Caxton pre pay card
and Tesco rate is slightly better than the Fairfx pre pay card, which is usually slightly better than Caxton

jacquigem
22-03-2017, 18:59
yes difficult. pretty sure leaving Europe will bankrupt GB but then again financial markets like certainty so maybe it will help in the near term. Interesting to see GB inflation rising. Did GB vote for this or were they conned by Nigel and Boris lies. Nigel last seen seeking German citizenship and Boris, thank god, keeping his mouth shut. Sorry about the rant,just how i feel right now.

yeoblade
22-03-2017, 19:21
With our cash card we withdraw from the hole in the wall at the international visa rate.
The best rate we have got so far it 1.18 to the £ this winter season.
If you use a hole in the wall remember to ALWAYS take you money out WITHOUT conversion.
The difference can be 5/6% extra!
Our account is with the Cumberland Building Society.
John

:yeahthat:

Using a Halifax Clarity no fee card. I have a FX card but not used it lately, find it easier to take out the cash when we arrive in france rather than predict our spend.

Except when it was up around 1.4 and I took a load out before coming back home.

Hedge you buying, get half before, half after......

El Veterano
22-03-2017, 21:26
yes difficult. pretty sure leaving Europe will bankrupt GB but then again financial markets like certainty so maybe it will help in the near term. Interesting to see GB inflation rising. Did GB vote for this or were they conned by Nigel and Boris lies. Nigel last seen seeking German citizenship and Boris, thank god, keeping his mouth shut. Sorry about the rant,just how i feel right now.

It seems every time Boris opens his trap the pound dives down even further. I'm with you on this one.

David & Ann
23-03-2017, 02:24
A short story about exchanging. Last year the £1 was worth Rs102 (Indian Rupee) I changed £5000,the lot in one hit. This year 2017 when I arrived in Goa the exchange rate was and still is £1 is worth Rs80/81. That is a loss of 20 percent. So I am returning back home with my £'s intact as I have lived on the money from last year. I hope next year brings glad tidings.

jagmanx
23-03-2017, 02:47
I think without a doubt markets will be unsettled as soon as article 50 is triggered. But there is also a chance the euro will drop too. Which people seem to be ignoring. I make that statement on the basis a major player in the European Zone has thrown its ticket in so that could affect the Euro too.

Academic for me I am skint anyway, But I think at this stage if I had savings I would be looking at investing in gold. Then transferring back to Sterling or Euros.

It doesn't help if going on holiday I suppose, But IF sterling does nosedive (or Euro) at some stage the market will consider the currencies possibly undervalued and will buy again.

The alternative is possibly the US dollar, However the US is I consider volatile itself at the moment with the new regime

Channa

Having some savings which were gaining zero (or next to) in the bank.. I looked at the 2 options above.
Both are "long term projects"
I got put off by gold as you have to keep it stored with the provider if you want to sell back.
2 Obvious choices Royal mint and also one of the Birmingham gold dealers

So using less than half my savings I went down the stocks and share route.
Offshore expat broker who uses an offshoot of Ingdirect banks and a share dealing brokerage.

I can view the value of my investment online,
The broker suggested 3 Investment companies and so I split the funds equally between the 3
Again a long term project and initially I took a bit of a hit with the initial charges...but all looking good for now (but only 2.5 months !)

grath
23-03-2017, 06:54
Back to the topic of exchange rate and travel money.
I have just hedged a little by loading my Caxton card. Only time will tell!
Although sterling is creeping up, I still think in the short term, the risk is higher for it to go down!

Wooie1958
23-03-2017, 07:14
I topped up yesterday as well and i noticed late last night the rate had crept up a little bit however ...............................

I`m convinced the rate will take a plunge next week on or after wednesday :rolleyes2:

grath
23-03-2017, 07:19
My personal opinion is that sterling might go up a little, maybe a couple of cents extra, but I think it could even at worst case, drop to even to the € in the short term!
But if I had a crystal ball, I would be rich, same for others:bow:

witzend
23-03-2017, 07:59
Post office cash trans € 1.13 if you take £500 & Brittany Ferry's P/P Card €1.13 What rate's are you getting

Tezza
23-03-2017, 09:54
Post office cash trans € 1.13 if you take £500 & Brittany Ferry's P/P Card €1.13 What rate's are you getting
The rate on revolut at the mo is 1.15 .no minimum exchange.

grath
23-03-2017, 10:29
Post office cash trans € 1.13 if you take £500 & Brittany Ferry's P/P Card €1.13 What rate's are you getting

Caxton and Fairfx are both just over 1.13. Tesco similar and Sainsbury just slightly less!

El Veterano
23-03-2017, 12:04
Xendpay is 1 GBP = 1.15615 EUR

Pauljenny
23-03-2017, 12:53
Xendpay is 1 GBP = 1.15615 EUR

Don't panic, Mr Mainwaring!

antiquesam
23-03-2017, 12:58
I really don't think the Daily Star is exactely the best place to get financial advice from, and I wouldn't call a rise of one Euro cent a 'huge spike' either. But the 30 day graph is interesting and just goes to show, if you look at the 90 day graph, how volatile the pound is. For sure the Euro could weaken as well but it will have a long way to go to reach the catastrophic depths of the pound since the referrendum.

Why do you assume the Pound is strengthening and not the Euro weakening at the moment?

Dowel
23-03-2017, 13:39
These put our troubles into context

51894

51895

51896

antiquesam
23-03-2017, 14:08
These put our troubles into context

51894

51895

51896

I think those graphs point to the Euro weakening rather than Sterling strengthening.

El Veterano
23-03-2017, 18:01
Don't panic, Mr Mainwaring!

You would if you were changing thousands.

Pauljenny
23-03-2017, 18:49
You would if you were changing thousands.

True,very true.
But you'd have been better off changing them at 5pm than at 9am today.
That's Sterling rising against the Euro and Dollar.

I hope that my big money transfers are behind me.
Unless we win the Portuguese lottery tonight.

El Veterano
23-03-2017, 21:14
True,very true.
But you'd have been better off changing them at 5pm than at 9am today.
That's Sterling rising against the Euro and Dollar.

I hope that my big money transfers are behind me.
Unless we win the Portuguese lottery tonight.

Now at 1 GBP = 1.15866 EUR miniscule rise

Fletch6
31-03-2017, 12:22
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