Author Topic: EXCHANGE RATE - 2013  (Read 10781 times)

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Offline Ron and Sue

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EXCHANGE RATE - 2013
« on: January 30, 2013, 01:38:40 PM »
Anyone got any clue to how the Euro rate is going to be this year?Last year(in May) I was able to get 124.75 with FairFX.This has now dropped to 114.70 and all the articles I am reading are saying that it is going to fall much lower.I am wondering if it may be worth buying now.Most High Street shops and banks are already lower than FairFX.Do any Forum members have any thoughts on this subject?        Ron.



Offline Geoff

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Re: EXCHANGE RATE - 2013
« Reply #1 on: January 30, 2013, 02:56:25 PM »
If we knew the answer to that Ron then we could all make a fortune on the Currency Markets!
What I have noticed though, over the years, is that the seems to lose against the Euro over the winter, but always bounces back when the tourist season starts. Of course it might be different this time.
Last year we were getting good rates 'cos the Euro was suffering from the Greek debt problem and the uncertainty of other EU countries that might also need a bail-out. To a certain extent those problems have diminished, thereby making the Euro stronger.
Meanwhile the UK has entered a Triple Dip recession, our Government are borrowing more than they said we would, our Prime Minister has thrown our entire economy into an unsettled state by indicating that we may well be leaving the EU in 5 years time, and most of the financial establishment now believe that it is not a matter of IF we lose our AAA rating, but WHEN. So the UK is falling on the worlds currency markets. Add that to the rising Euro and I think that we could easily see the / Euro rates falling a lot further.

Just my thoughts - and I know nothing about International Finance !!
But I do know that when the time comes for me to pay for the work that I am currently having done to my house it is going to cost me a lot more than I thought! :-(
Home is where the heart is - CORFU :-)

Offline Truth

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Re: EXCHANGE RATE - 2013
« Reply #2 on: January 30, 2013, 06:35:39 PM »
Yes, all what Geoff says above !  A bit worrying .....................
Good for exports though ! lol
Wolverhampton Wanderers, pride of The Midlands......

Offline Val n Bill

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Re: EXCHANGE RATE - 2013
« Reply #3 on: January 30, 2013, 07:25:13 PM »

Yes Geoff, I am thinking along the same lines as you.

Maybe it would be prudent to buy some Euros before the prices start falling further.

                 Val x
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Offline kevin.g

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Re: EXCHANGE RATE - 2013
« Reply #4 on: January 30, 2013, 07:52:16 PM »
e115 at the place i use ...grrrrrrrrrrr

Offline Ron and Sue

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Re: EXCHANGE RATE - 2013
« Reply #5 on: January 31, 2013, 01:33:56 PM »
Truth        the only thing I want to export is myself to Arillas.This I will be doing in early June and just hope the exchange rate is not too bad then.

Offline Truth

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Re: EXCHANGE RATE - 2013
« Reply #6 on: January 31, 2013, 06:13:02 PM »
The only problem is we have to then import ourselves back here ....... which is a shame !
Wolverhampton Wanderers, pride of The Midlands......

Offline Angela66

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Re: EXCHANGE RATE - 2013
« Reply #7 on: February 01, 2013, 10:31:44 PM »
Nasty drop today- biggest fall in value of pound to euro in one day since 2010.  Closed at 1.15


But - I kept 250 from last years hols:). Should make up for any shortfall:)

6 months to go!

Offline Janis

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Re: EXCHANGE RATE - 2013
« Reply #8 on: February 02, 2013, 12:49:42 AM »
I bought 110 euros today - it cost me 96.66 - the exchange rate was 1.1138 :-(

This is just for "incidentals" - I hope we get a better rate in Malta next week ...

Janis x



Offline TerryW

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Re: EXCHANGE RATE - 2013
« Reply #9 on: February 25, 2013, 10:41:45 AM »
I think our 2013 holidays are now, going to cost us a lot more money :-(

AAA loss: Pound falls as markets react to downgrade

The pound fell to a 31-month low against the dollar and a 16-month low against the euro.

http://www.bbc.co.uk/news/business/market_data/currency/11/13/twelve_month.stm



Offline Val n Bill

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Re: EXCHANGE RATE - 2013
« Reply #10 on: February 25, 2013, 12:36:16 PM »

Thanks Terry, think we will buy some Euro now before it drops any more.

            Val x
The love affair continues.

Offline chezphil

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Re: EXCHANGE RATE - 2013
« Reply #11 on: February 25, 2013, 03:07:27 PM »
Personally we always budget in pounds, on our holidays there for we dont spend anymore if the euro goes up or down i know the sitituation withe rating going down effects the exchange rate for the moment i believe it will go up  again quite soon, as it will effect the exports from europe into Britian so cant see germany and france letting it effect there exports as we take a lot from them



Offline Janis

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Re: EXCHANGE RATE - 2013
« Reply #12 on: February 25, 2013, 07:06:37 PM »
Well we have 27 euros left from our Malta holiday so will keep them for Arillas! (well, it's a start ...)

11 weeks to go ..!!

Janis x



Offline Angela66

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Re: EXCHANGE RATE - 2013
« Reply #13 on: February 25, 2013, 08:33:39 PM »
The Euro has also dropped against the dollar so there is hope yet;)

Offline Ron and Sue

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Re: EXCHANGE RATE - 2013
« Reply #14 on: February 28, 2013, 06:11:15 PM »
Changing sterling into Euros always seems to be a catch 22 situation.If the rate is 112 and you dont buy it will go down to 105;if you do buy it will go up to 120.I have seen 114 offered  today at Co-op Travel so am wondering wether to buy half my expected spend now and wait to see where the rate goes over the next few weeks.I think the uncertainty after the Italian elections has kept the rate a bit higher but for how long is anyones guess.