Author Topic: Exchange Rate To Get Worse.  (Read 8403 times)

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riggers

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Exchange Rate To Get Worse.
« on: February 20, 2008, 03:00:51 PM »
I was in the Post Office this Morning to enquire about the Exchange Rate.
They are giving a misely 1.29 if you get £500 worth.
They also say the rate is going to get worse as the Summer comes.
What is Happening here???


Riggers...

Offline Eggy

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Re: Exchange Rate To Get Worse.
« Reply #1 on: February 20, 2008, 03:22:33 PM »
It's like an extra cost of living for us John.
Compered to last September the rate offered now means an increase of £35 a month to our budget.
Average increase to meals etc for holidayers is about £1.25 sterling per e15 spent

Negg

Offline blondegirl

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Re: Exchange Rate To Get Worse.
« Reply #2 on: February 20, 2008, 03:39:51 PM »
Some travel expert on the TV this week said if you plan to change £1000 into euros you will lose approx £100 as the exchange is so low.
If you want the rainbow, you gotta put up with the rain.

Offline justphil

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Re: Exchange Rate To Get Worse.
« Reply #3 on: February 20, 2008, 04:11:10 PM »
We just did the worst currency exchange for last 5 years - about 1.28 plus cash charge of £2.50, then 1.2920 on the card for our "essential supplies" (y'all know what they were...)

First year in Arillas in 2002 it was 1.53 cash and 1.55 on the card for supplies....

We'll still spend the same euros there in the summer - just take longer to get back to square one when we get home.

phil



Offline Eggy

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Re: Exchange Rate To Get Worse.
« Reply #4 on: February 20, 2008, 06:22:44 PM »
Some travel expert on the TV this week said if you plan to change £1000 into euros you will lose approx £100 as the exchange is so low.

BG
They're not wrong. It is around that 10% figure at the moment. Spare a thought for someone who maybe bought a plot of land in Sep/Oct/ when the exchange was good.
Lets say they offered e50,000 for example.
When any paperwork's done and they are due to pay the full balance it will then cost them over £4500 sterling extra. And, if they have accepted a building quote of e1600 per sq mtr then that 's an increase of £160 per sq mtr.
So if they've planned for a 120 sq mtr house.............. - Nightmare !

Think I may have to look for another job!

Negg

Offline justphil

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Re: Exchange Rate To Get Worse.
« Reply #5 on: February 20, 2008, 06:52:52 PM »
Eggy don't do that. They  (we) need someone like you there doing that. The forum members agree like 72+ people said earlier!

We made the calculation that the build is £19,200 quid on top as a result of exchange rates. For 120m2 build! Doesn't sound big to me -30 feet in each direction? And it could ruin a building project ending up being sold cheap after cash flow problems...

On the rates, all Phil's afternoon's research makes me believe that the rate will dip a bit more as friend Riggers said earlier. But it isn't likely to get back up to last year's rates for a long while. We're all going to hurt this year - TerryW said so weeks ago.

Phil and me won't cut back on what we spend with our friends in Arillas even though we'll have to balance it somewhere. But they will be struggling even more than usual.
And I guess so will you and Wegg. You know we're all with you.

love jen and phil

 




 

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