keep euros or change back to pounds

sknoller

Hi,
Im looking for some advise please.
I have just sold a property in Spain and have recieved a bank cheque which is in euros. I am unsure whether to put the money into a euro account at my local UK bank or change it back to sterling. The gamble is whether sterling will fall further against the Euro in the short to medium term. Any views ?

purch

The values of both are likely to depreciate in those time frames

GBP more than EUR

Keep it in EUR

GTG

This should help you decide:-


http://business.timesonline.co.uk/tol/business/money/investment/article3176408.ece

I have Sterling and Euro current accounts and a Euro deposit account with Citibank which I can transfer monies between online 24/7. The last time I did this there was an exchange difference of 1.5%. The amount you get is shown before you do the exchange. The downside is that the Euro deposit account Gross AER is only 0.5% p.a.

http://www.citibank.co.uk/personal/banking/international/deposits.htm?merchant=citi

I would like to shift a lump sum of Sterling into a high interest bearing Euro account to protect the value of my money.

Anyone know of one?