Will the EX Rate ever go back up?

And back up the 3 cents lost earlier

quote Johnny1uk...

'A financier told me recently that they expect the euro to be around 1.30-1.35 to the pound by October.'

Given the way things are going, hand up all those who agree....!

Cloud Bl**dy Cuckoo Land...

My state pension has just been increased by a whole £8 / 8.54 Euros a week...well that should keep the wolf from the door for about five minutes...

fb

Back up to 1.10 today

Looks like the market is pricing in a likely cut in the ECB rate

OOPS! Sorry folks, I forgot that I was logged in as Justin, so forget the post below! 

For those who don't know, I now work for EOS

Anyway, back to what I wanted to post...

Quote johnnie1uk "A financier told me recently that they expect the euro to be around 1.30-1.35 to the pound by October."

I've said all along that the ex-rate would bounce back eventually, however I don't think it would go as high as 1.45 - 1.55 like the good 'old days.

I think it will be sooner rather than later and possibly before October. Why? Because I think there will be more tourists in Spain this year than most people think, as all the Bars and Restaurants are now fighting for business, and what do most people do when they go on holiday?

My mate, his wife and their boy have come to Spain for a week and last night we went out. Between us we had 8 pints of beer, 3 vodka & tonics, 1 vodka and coke and 1 fresh orange juice  at a local bar in the port, and it cost me 23€ !!!!

My mate and his wife have only been here one day out of there 9 day holiday, and even though the ex-rate is so low, they already can't wait to come back later this year!

Thanks to the World economy everything has gone a bit pear-shaped, and this goverment has not helped what-so-ever by  typical Labour spend spend spend.

But on a lighter note, questions are now being raised like never before and once all the dross has disappeared including Brown .

England will become a major force again and foreign investment and bank lending made available again, the strength of  the pound will grow........its just a matter of confidence in the Market...

Not to sure if October is a bit optimistic as companys are having to trim down to bare bones and reduce all operating costs and unemployment will get worse before it gets better............mid 2010 we should see some change.

Just batton down the hatches and ride the storm..................

It could always be worse im in the city of london dull,cold,and swampy on every corner.

Would rather be on my terrace having a Bacardi & Coke...

Ta

Hi the rates are now starting to go back up. Could be 1.18 to 1.20 by the end of the summer

It's over 1.18 as we speak, and it's been holding strong all week.

Should see 1.20s shortly. ECB has been lagging behind the curve sine the whole thing started, Retail Sales data out today hopefully should be good which will push it to 1.19

Well after those words of wisdom about hopefully seeing good data, we saw bad news on retail sales, and duly saw the interbank rate drop down to a low of 1.1617.  Picking up slightly to mid-high 1.16's so hopefully will bounce back as long as Darling King or anyone else in a position of moving the rates doesnt open their mouth for the near future!!!

Hi

can anyone tell me what the exchange rate pound- euro is today,  do i change up in uk or do i change my money in spain,

many thanks tricia

Right now it's at €1.17 to the pound.

If it's holiday money you want to change I don't really know where's best to change it at the moment!

Justin

Eurochange outlets in Spain were giving 1.155 euros for cash last week with no charges or commision.

Try the Post Office, as they used to give the best rates.

Having said that, if your UK ATM (hole in wall) card is also a Cirrus card, then you can use it to withdraw money from most banks here in Spain, and the exchange rate is even better! Look on the back of the card to see if you can see the Cirrus logo.

The Cirrus card is part of MasterCard and it can be used in over 210 countries around the World.

I checked the post office b4 I left for Spain.  Rates were not very good.  There may be a charge for using an ATM.

There is a small charge for using the ATM, but that is deducted from the Euro's you receive at point of transaction, and because the exchange rate is much higher, overall you get a better deal.

We never bring money out of the UK now, we always withdraw from a cashpoint as the rates are much better, especially with a Flexaccount. Even with a non Nationwide card the rats are betr than a bureau de change. My motherin law changed her money in the Post Office and got 1.09! We have received 1.17 (ish) using the ATM.

Mark

 Yes we do the same as Mark have done for year's, Never draw money from UK. Just hope Nationwide  do not start charging, we was even getting 1.18 last time out.   The only euro's I have Is what I bring back with me.   

Pat

After a rally up to 1.19 earlier this month, the £ has plummeted again . Currently showing as only 1.10, yet the stock market is at its highest for a year. What on earth is going on???

Mark

P.S. Had to find this thread on Google as the EOS search facility is pants!!! Came up #2 in Google results for identical wording pasted from EOS search which returned nothing!!!

It's all my fault, I'm afraid; my UK pensions are due for payment again...

Either that or Gordon's been shooting his mouth off again...

fb