Sterling v's euro. Advice please

RachLD

I booked an appartment in the French Alps, (In euro's) back in October. Paid a deposit and have to pay the remainder off by end of Jan.

Looking at Sterling V's euro today, (due to the depreciation of the pound) i am looking at about £100 extra to pay based on todays exchange rate.

Long story short.... do we think the pound may recover and therefore do i wait and pay off the appartment at the end of Jan, or do i cut my losses, pay for it today and save myself losing out to dire exchange rates?

Cheers

Joe_Bloggs

I would say 'hedge your bets' as I don't know the answer. How easy is it for UK citizens to hold Euro accounts ? I wish I had put a lot of my money in one.
J_B.

simpywimpy

Im in process of buying in France too. Took lots of advice from brokers who all said it was unlikely to recover much over the next 12 months. Wish I'd have changed it a couple of weeks earlier when it was still 1.20. Managed to get 1.14 but lost £1100 by waiting. The week after I needed a further 2000 euros and only managed to get 1.13....it's a risk to wait but you never know

97trophy

Joe_Bloggs wrote: »

How easy is it for UK citizens to hold Euro accounts ? I wish I had put a lot of my money in one.
J_B.

Citibank UK will open one for free and the account comes with the full financial backing of the US Govt to guarantee the safety of your money.