Wedding abroad - currency worries

ncfcfan

Hi all,

I'm sure many people will be keeping their eye on exchange rates over the coming months.

We'll be doing it more than most as we're getting married in Rhodes in August.

I'd really like to gather peoples thoughts and opinions on our situation - we have to pay for most of the services we require out in resort. We're talking numbers between £5,000 and £10,000.

With a nose diving exchange rate, we stand to lose out on quite a bit here, despite budgeting.

Our options are to just cut our loses and get our Euros now, or wait for it to improve. What do you guys think is the best option?

Thanks

phatbear

I would wait

ncfcfan

phatbear wrote: »

I would wait

Why? I'm hoping and praying it doesn't get worse, but who really knows.

leylandsunaddict

Not surprisingly though, but there's people asking the same sort of thing on many travel forums these days. Unfortunately no one has a crystal ball to be able to answer them.

Personal choice whether to load a prepaid card (presumably, as guessing/hoping you're not taking cash) or to wait and hope the rate rises. You could hedge your bets and load some now and then watch the rate carefully.

richardw

What exchange rate did you budget with originally?

ncfcfan

richardw wrote: »

What exchange rate did you budget with originally?

We just used Google, around a month ago. The pound wasn't particularly strong then either. But if we were to exchange now, we'd lose out on between 500-1000 Euros.

richardw

500 euros ! Is that all?

Weddings abroad are expensive, that's a reasonable fluctuation cost that you should have in your budget.

Stop worrying about it and look forward to your married life.

Martin is doing currency advice in tomorrow's e mail so look at that to get the cost down a bit.

ncfcfan

richardw wrote: »

500 euros ! Is that all?

Weddings abroad are expensive, that's a reasonable fluctuation cost that you should have in your budget.

Stop worrying about it and look forward to your married life.

Martin is doing currency advice in tomorrow's e mail so look at that to get the cost down a bit.

That might be the case, but I'd rather not use the surplus. Okay, thanks for the advice.

benjus

richardw wrote: »

Martin is doing currency advice in tomorrow's e mail so look at that to get the cost down a bit.

Martin's currency advice is always the same: no-one knows what will happen, but try to minimise costs of changing money (i.e. use a fee-free card when abroad). No criticism to Martin intended - that's all anyone can say for sure. Anything else is an opinion.

richardw

Martin will just do an updated currency options, worth waiting for.

phatbear

ncfcfan wrote: »

Why? I'm hoping and praying it doesn't get worse, but who really knows.

ok then dont wait.

what you are asking for is people to predict the future if anyone knew what was going to happen with the currency markets we would liquidate all of our assets and buy the appropriate currency and then make a killing.