Has work stopped on your development...Are you trying to recover your deposit?

Some of the Sunday papers are talking of a possible exchange rate of 1 to 1 against the euro. I thought it wouldn't go much lower than it is now, anyone got any thoughts or opinions.  I keep thinking about forward purchasing my currency but was expecting a recovery rather than further falls.If our economy is in such a mess because of world events then surely the eurozone has exactly the same problems. Best wishes to all those that are completing now I enjoy reading and learning from your comments.

Jolly Jack

Hi Jolly Jack,

I think it's worth securing a certain rate , at least you know where you are. Economic markets are too vunerable. I secured a rate of 1.20 so if it falls below this I'm safe. However if it improves I can contact the company and get a better rate. It's not worth changing over a few cents but you can work it out for youself and change it. There are quite a few companies to choose from. Hope this is of help.

Regards

Sharon

Shampers do you have a view on this? if the girls will let you off the buggy 
Phil

If you have a certain budget then fix it now if that rate suits your budget.

If you can afford to gamble a little than take an option which guarantees you a drop dead rate, but allows you to use the spot rate if its gone in your favour - there will/may be a fee for doing this.

If you can afford to take more of a gamble then just don't fix it and follow the spot rate. 

As i don't need to furnish, aircon, light my place till at least April next year then I'm following the spot rate as i also still expect the £/€ to be back at 1.35 by middle of Q2 next year, however who knows what might happen next in world markets............ if Russia/USA keep being silly over South Assetia and the Russians decide to be sillier with gas/oil supplies to the west then this could throw the price of oil back up again which affects everything !

£/€ rate has remained between 1.24 and 1.29 now for the last 6 months so very stable, the $ is merely strengthening against all currencies which is then turned into the statement that £ is at an all time low............ which it is in the Trade Weighted Index (£ v a basket of major currencies)