Ex Rate good for me! Can i lock it?

Hi hopefully (fingers crossed) i will be receiving a full refund of my deposits around Jan 2009. Now i find myself constantly checking the Ex rate every day and seeing the Pound getting weaker and weaker, which for me is good, but surely this cant go on. To be honest im not a gambling man and at the rate it is now GBP/EURO 1.060 i would be over the moon to be able to lock this price in now, as come end of Jan, surely there is only one way the rate will go and thats up! My question is to Marie and all members of the forum can i lock this price in? Will my Lawyers be able to do this for me? How will they transfer the money back to the UK?

Thank you.. Ex rate now 1.054!!

Hi Simone - yes you can forward purchase currency at today's rate.  There are lots of companies you can go to but I use John Mohan at Sterling Exchange (johnmohan@sterlingexchange.co.uk) as he is very patient with me and takes the time to explain the complexities of the market. - finance is not one of my strengths!  You get the commercial rate rather than the tourist one.  I unfortunately have to move money the other way so am losing a fortune!

He advised me this week that the rate is going to continue to get worse (better from your point of view) so you should maybe hang on a bit longer.  I also do the transaction by internet bank transfer so there are no fees to pay.

Hope you get your deposit back without any hassle!

I have pm'd you