What to do with Euros - save or exchange?

andreak123

Hi everyone,

I have about 25,000 euros from a property sale abroad but I am not sure what to do with it as the exchange rate is really bad at the moment. I can't see much improvement for a long time so I don't know if I should exchange it and accept the loses (being £2000 at least worst off then 6 months ago) or shall I wait and keep euros, hoping the exchange rate will improve?

If so, where to invest them? Are there UK based Euro savings bank accounts with a good enough rate without huge fees? I still have most of my money abroad in my parents account but plan to send it over to the UK to have it handy if I need to exchange it. I don't need to spend this money for a while but would like to invest it wisely until I need it.

Thank you, any advice appreciated.

Andrea

atush

With greece it will only get worse me thinks.

Why do yo have this money? will you ever need a large amt of euros?

Ballard

I haven't checked in a while but interbank rates for up to about three months for Euros have been negative for some time so it's unlikely that you'll be paid any interest at all. It's probably more likely that you'll be charged I'm afraid.

redux

If it was in pounds, you could put it in some bank current accounts and building society regular savers paying 3 to 5%.

So one of your considerations is how long before you expect to use the money, as well as where.

You might consider investing in shares via types of mutual investment vehicle equivalent to our unit and investment trusts and OEICs (SICAVs?) if the timespan stretches out for a while, and presumably you can find ways to do this from a foreign bank or investment platform. This is for a few years though, rather than months.

Anthorn

With Grexit imminent get rid of them as fast as possible. Or you could keep them and gamble that the new Drachma will be worth less than nothing and the Euro revalued after Grexit will be worth more than the Pound.