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Chit Chat
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Off to Tenerife again for Cheltenham Week again and usually change my money over there as we always seem to get a better rate. Should I get a few now as 1.34 is very good to last year or do we think it will get better.
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I have a halifax credit card that lets you get cash out wherever with no fees at the exact exchange rate at the time. You pay interest immediately but basically this is the way to go imo.
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Bigmo, millions of Euros are being withdrawn from Greek banks since the change of government, for fears of a return (unfounded?) to the Drachma so there may be a little more instability in the exchange rate, you might get a few more points, but the current rate is excellent, do what's most convenient and safe.
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I'd take 1.34 personally bigmo, that is a decent rate.
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I would be inclined to take it also.
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I would think 1.4 could be reached in the coming weeks
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Tony Bliar wanted us in the Euro, Lib Dems still do but only
when the time is right of course lol |
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Has this trip been approved? Who will be posting the jokes, pictures and facts whilst you are away?
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Lol Joel.
I'm tending to agree with pumphol and think it could get near 1.4. No doubt I'll get it wrong. |
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1.4 the Brits be flocking back to the sol very soon if this keeps up !
Could be the end of INC holidays !! |
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Sica Dan 29 Jan 15 01:17 Joined: 06 Oct 00 | Topic/replies: 2,009 | Blogger: Sica Dan's blog
Tony Bliar wanted us in the Euro, Lib Dems still do but only when the time is right of course lol We would have got 2.65 euros to the pound when the euro was introduced. If we'd listened to Tony Blair or the Lib Dems and locked that rate in for ever by joining with everyone else, we'd be the richest nation in Europe now. Instead we listened to you.  |
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Sorry. 1.50 euros to the pound when it was introduced in 1999. God knows where that 2.65 figure came from.
Same principle applies. We'd be a hell of a lot better off now if we'd joined. |
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Rob, is that a particular card/account you have for that deal?
Or does it apply for any bog standard HBOS card ? |
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if it goes to 1.4 im leaving the uk
the rate was about 1.16 this time last year |
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Plenty irish bars Tenerife to watch chelt
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Not sure Platini. My card just says Halifax mastercard.
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1 bed flats up the posh end of the algarve going for less than 50k a pop now.
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Halifax Mastercards (even the much vaunted Clarity card) use the Mastercard exchange rate for conversion to sterling of Euro incurred transactions. You can look these rates up on line, but the chances of getting something even close to the spot rate of say 1.34 is about as likely as me (or Rob!) going thru the Card at Cheltenham. Hth
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prepaid cards
http://www.which.co.uk/money/credit-cards-and-loans/guides/prepaid-cards/euro-and-dollar-prepaid-cards-reviewed/ |
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There is no 1.34 available anywhere, I have just got some at just over 1.31.
Where exactly have you got 1.34 from? |
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The £/Euro Exchange Rate has hit 1.34 several times over the last few days/weeks. I have no idea what rate the original poster meant or others on here, BUT you are presumably referring to the Tourist purchase rate, which is not quite the same thing, as you have discovered.
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https://www.mastercard.com/global/currencyconversion/
I get 1.341 according to the above link. Is this the rate I get on my Halifax clarity card? |
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Once the QE is released you might get 1.5 plus
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Yeah and you might not. Seriously who actually knows?
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QE Should devalue the Euro
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It might be already priced in. It might not. All glorified guessers. It is inconceivable that predicting the future of money markets is actually that simple.
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http://www.theguardian.com/business/2015/jan/25/devaluation-discord-currencies-war-quantitative-easing
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Since the credit crunch I’ve taken a fair bit of time out to learn more about economics and finances and stuff. Before then don’t reckon I even knew the difference between national debt and national deficit. Not saying this in any way makes me an expert but having read articles in left leaning newspapers and tory newspapers, that house price crash thread on financials forum, houspricecrash.co.uk forums, bbc business news one thing I have learned is that the confidence and articulacy with which someone makes an assertion is in no way related to the chances they are actually fkin right, and virtually none of them admit when they are wrong. Inflation, deflation, Quantitive Easing, hyperflation, double dip, loaf of bread gonna cost ten million quid, stagflation, housepricecrash, triple dip, runs on the pound, 10 million unemployed, FIAT bubbles, dead cat bounce, FTSE in freefall, the end of the western world, etc etc They are all just glorified guessers.
Since 2007 I am guessing average inflation is around 2-3%. House prices within about 5% now of what they were in 2007. The pound vs a basket of currencies – has it changed much? Unemployment probably gone up a bit. |
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I enjoy watching Richard D Woolf,Peter Schiff,Max Keiser and my fav Mark Blyth.I also have read a lot on the net
on various websites. |
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Have you noticed how often very articulate pundits get it totally and absolutely wrong?
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Yes,When Peter Schiff told them the housing bubble would burst they all laughed at him.
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House Prices went down 20% I think from about autumn 2007 to summer 2009. They then went up about 10% in a year. according to Halifax. What exactly did Peter Schiff predict. and who is "all"?
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that housepricecrash website doesn't even bother updating the latest HPs now. They stopped last summer, still quote the figures but just up to July 2014. Some very knowledgeable people on there but they all disappear/go quiet when things don't go their way. Wouldn't shut up about how you have to buy gold a couple of years ago, gold has dropped in the last two years and HPs gone up, no one ever admits they are/were wrong.
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https://www.youtube.com/watch?v=LfascZSTU4o
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unless you have insights into future foreign exchange markets, buy them when you need them
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sell your unused ones on ebay
 . http://www.ebay.ie/itm/20-Euros-Left-Over-Holiday-Money-20-Banknote-/371246145587?pt=UK_Coins_Banknotes_GL&ha****m566ffea033 |
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I've always found every year that whatever rate the Post Office offers we can beat it by 3 or 4 ticks by changing our money over there. Having said that I don't know if the PO is value.
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That is compared to the links you guys are suggesting.
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rob_dylan 29 Jan 15 15:56
Have you noticed how often very articulate pundits get it totally and absolutely wrong? The problem with the financial markets is that one can be 100% correct in one's analysis but if all the other idiots get it wrong then you are fecked.  |
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Very good points made by Rob Dylan on this thread.
Of course, the OP asks a reasonable question and it's one worthy of speculation and discussion, but the reason I'd advise him not to take it at all seriously is as follows: If the people on this thread could correctly deduce that the £/€ cross would probably rise to, say, 1.40 by the end of March, then it would be blindingly obvious to professional currency speculators and investors. They would therefore go long on the £/€ cross (i.e. buy pounds/sell euros) until it was pushed up to 1.40. This hasn't happened. If today's £/€ rate is 1.33, then an amateur's best guess as to what it will be in six months time is 1.33 (with a minor adjustment for interest rates, I think). |