MSE News: The pound hits €1.40, should you buy now for the summer?

Former_MSE_Helen

The pound has punched through the psychological €1.40 barrier today for the first time since 2007...

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The pound hits €1.40, should you buy now for the summer?




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antenna

In a local bar in Fuengirola port (Bar Positiv) 1 euro a pint.....so that is 70p......my advice is lock in some 140 to the pound now,even if it goes up 140 is great spending power

antenna

3 course chinese meal in Benalmadena 4.50 euros.....and this is the best menu del dia amongst all chinese restaurants in a 5 mile radius.......4.50 euros equals £3.15p
the name escapes me but it is 50 yards from 24 hour square Benalmadena, on the main road,direction torremolinos.

zagfles

Martin is right as usual. If you want to be a currency speculator, go for it and make a fortune. Otherwise don't bother trying to buy in advance because the rate looks good now, just get a decent fee free card and reduce the commission you're paying. In the long run you'll win on average. First time I used Euros it was about 1.58 to the pound.

Unless you do have some insight into the forex future markets. In which case just use it to make yourself a billionaire, and you need never bother with money saving ever again!

workingnomad

I think the Euro will fall further this year. Mainland Europe will be cheaper than a lot of other long hauls destinations for Brits, particularly anywhere that uses the dollar.

antenna

Soon 70p will buy a euro,this is the new breaking point,once less than 70p will buy a euro then it will be in freefall......i need a constant supply of euros to pay my mortgage and to spend 6 months of the year in spain,so i will buy euro on the way up,i cant just wait for it to reach the absolute maximum........main reason i have no inside info, so just forward buying will do for me.

antenna

A cash withdrawal from my Metro debit Mastercard exchanged at 1.4040 yesterday.............rock on

Pincher

I hardly ever need actual cash any more. It's usually for really small amounts. In Egypt, you HAVE TO PAY for the toilet!
Had to borrow from the tour guide. Piddling amount: hehe.


For European countries, I just whip out the Saga No Fee credit card. Do you really see yourself paying the hotel bill in cash?

jamesd

To save some work for those who have Euros and want a Euro account:

Citibank: Must have CitiGold current account first. That requires £75,000 total average monthly balance across all accounts, including investment accounts, or £25 monthly fee.

Barclays: £7 per quarter if average balance below $2,000. £15 to make a SEPA electronic payment. Must have a Barclays current account first.

Lloyds Bank: Monthly fee of £7.50/ €8/US$10, minimum income £50,000 or £25,000 to invest.

Pincher

EURO Bank account


https://www.caterallen.co.uk/euro-bank-account-for-individuals


£5,000 worth of EUROs minimum.


Comes with a EURO denominated debit card, which is handy if you travel to Europe A LOT, I suppose.

workingnomad

I think that is incorrect information regarding Citibank.

You only need a balance of around £2000 in your current accounts (EUR, USD only) to avoid any charges and no need for citibank gold.

I also have deposit accounts with them in other currencies such as AUD, CHF and they are free.