Advice re buying Euros

Gollom

I need to buy over 100K euros (for a house purchase) by the middle of next week at the latest. What is the best way? I have been given a rate of 1.4550 - is that good? Would I be better holding of for a few days?

Many thanks!

canny_yorkshireman_2

the rate changes by the minute in the markets have you tried a specialist money markets company like moneycorp.com they will set up a contract and give you the best rate that the market is offering has to waiting while next week if i knew the answer i would not be on here but on a beach bathing in sunshine etc etc
hth

grumbler

Did you read this Martin's article:
Sending Money Overseas: Moving money large or small ?

See also links to two discussion threads inside.

missile

The guys have given you the info. Plus get yourself a Nationwide Flex Account which will enable you to draw cash overseas in Euros at business rate with no charges. Do you need any advice on buying abroad? Been there done it got the T shirt and pleased to help if I can.

THRIFTY1_3

Based on the current market rate a quote of 1.4550 is pretty good (as is quite correctly pointed out by Canny Yorkshireman the rate is constantly changing, so whether to wait on can be a bit of a lottery). You mentioned that you need the euros by the middle of next week, one thing to consider is whether these need to be credited to an account abroad by then or merely secured in purchse. You should allow a good day or two for delivery abroad, if you are tied to a deadline. Many companies will offer a sameday value transfer, but this only gaurantees delivery to the receiving bank, it is then in that banks hands as to whether they credit the specific account that day (not usually the case!).
Good luck.

jonesMUFCforever

You sem to have got yourself in a bit of a pickle as you HAVE to buy euros now for next week.
Did nobody advise you about Forward exchange contracts?