To buy or not to buy Euros now?

shortchanged_2

Little change of scene here.

The family and I will be going to France in the next 5 months and with the pound being the strongest it has been against the Euro for some time would you buy Euros now?

There are obviously certain factors to consider in the near future, the two main ones being the prospect of more QE weakening the pound but on the other hand the Eurozone crisis rumbles on with the distinct possibilty of a Greek exit from the Euro and who knows what will happen if that occurs.

I'm generally risk averse so I view the current rate as very good compared to when we went to France last year. So I guess I would be happy to get them now, knowing that I am getting more for my money than I did last year.

However I am interested to hear other peoples opinions.

purch

I'd wait.

You'll get 1.30 by August :eek:

The-Joker

Wait a bit longer and you will get a lot more Euros maybe even an infinate amount of zeros on the end.

Procrastinator333

Personally I think a full Greek default and Euro exit are a sure thing. And I think when it happens you will get a better rate.

But either way, unless you are spending a very large amount of €, it ain't go make a huge difference. Maybe hedge your bets, buy half you intended spend now and half closer to the time?

Thrugelmir

Make sure you're not given Greek notes if you decide to buy. :eek:

Degenerate

Best wait, 5 months is a long time. You could end up having to change the money again into new francs.

mcc100

No-one knows and, as Procrastinator333 says, unless you are spending huge amounts of money I wouldn't lose any sleep over it.

It won't affect you going to France, but there is always uncertainty with holidays.

Do I book the flight now, or do I wait in the hope it will be cheaper in a couple of months ? ...... but by then it may have doubled in price.

Do I book the hire car now, or do I wait a few weeks hoping that the cost may have halved due to lack of demand?

chucky

shortchanged wrote: »

To buy or not to buy Euros now?

It's a bit like do I get the iPad 3 or wait till the iPad 4 comes out.

It's worse with exchange rates as there is so much potential volatility and trying to predict the future isn't guaranteed.

For the small amount you're going to save it's probably not worth the risk of losing more if it goes the other way.

missile

Going to France on holiday? I wouldn't bother.

Margey

Hi,

let me see. Well there is no certainty in the direction the strength of the euro could go next. I mean the pound could get stronger, or it could go the other way. My feeling is that you have some time yet before you would need to purchase the euro's since the current uncertainty could make the pound even stronger.

but this is my view, and the final decision comes down to whether or not you are happy with purchasing the euro's now.

You have said that you are risk averse, and that you feel the current rate is good. With that in mind, you could consider purchasing half of your euro's now and then purchase the other half at a later date at which point you will be able see how the pound fairs at a later date.

Thats my two cents.. hope it helped

Margey

The-Joker

Procrastinator333 wrote: »

Personally I think a full Greek default and Euro exit are a sure thing. And I think when it happens you will get a better rate.

But either way, unless you are spending a very large amount of €, it ain't go make a huge difference. Maybe hedge your bets, buy half you intended spend now and half closer to the time?

Personally I think the Euro along with every other fiat currency is heading for a currency crisis. It is a sure thing that every fiat currency in use today will go to its true value of nothing just like every single fiat currency throughout history.