Euro (€) Currency Thread

Mwesty

1.1822 Trading...

sharon_w139

Hi all,

I am new to this site so I hope this is the right place to post my query.

I have just returned to the UK after completing a stint working in europe. I have roughly 32,000 euros saved up and sitting in a euro bank account, and which I'd like to have exchanged into sterling and transfered to my UK bank account. I was just wondering if I should do a straight bank to bank transfer or if I should be using a specialist Foreign Exchange Broker, can anyone please advise me on this?... I've noticed the pound slowly recovering against the Euro and feel I shouldn't delay any longer in exchanging the money.

Thanks in advance for your help.

Best regards

Sharon

misscharlx

I've never been abroad before so am new to buying currency - where youre say "trading" at 1.18 does that mean you can buy it at that or not? do you buy it at slightly less - I go on holiday next week and am looking where to get my euros from but all i can find at the moment is 1.12 - does anyone have any reccomendations of where to get euros from at higher rate than this? thanks in advance x

inspector_monkfish

09:30 16Jun09 UK inflation falls less than expected in May

LONDON, June 16 - British consumer price inflation slowed much less than expected in May to remain above the Bank of England's 2.0 percent target for a 20th consecutive month, official data showed on Tuesday.

The Office for National Statistics said consumer prices rose 0.6 percent on the month in May. That took the annual rate to 2.2 percent from 2.3 percent in April and the lowest since January 2008 -- and below forecasts of 2.0 percent.

Besides the anticipated upward effect from tax rises for alcohol and tobacco in this year's Budget, the chief upward influences were from rising prices of DVDs, televisions, clothing and footwear.

British inflation has remained remarkably sticky despite much lower energy and commodity costs compared to last year and an economic recession, perhaps due to the weakness of sterling.

But policymakers still expect inflation to fall sharply over the coming months and, as such, the figures are unlikely to alter expectations that monetary policy will remain loose for a considerable period of time.

The annual RPI measure of inflation, on which many wage deals are based and which includes housing costs, unexpectedly rose to -1.1 percent in May from -1.2 percent in April. Analysts had predicted a drop to -1.5 percent.

As well as being affected by the same upward pressures as the CPI measure, May's RPI was also boosted by housing costs as average mortgage interest rate payments rose slightly.

inspector_monkfish

EUR/GBP rockets from 1.1787 to 1.1835 straight after Inflation data (see above)

Bananasplit

misscharlx wrote: »

I've never been abroad before so am new to buying currency - where youre say "trading" at 1.18 does that mean you can buy it at that or not? do you buy it at slightly less - I go on holiday next week and am looking where to get my euros from but all i can find at the moment is 1.12 - does anyone have any reccomendations of where to get euros from at higher rate than this? thanks in advance x

You buy them at slightly less than the trading price.
I just ordered my currency from Thomas Exchange at 1.16.
Look online. You may find better rates.

inspector_monkfish

misscharlx wrote: »

I've never been abroad before so am new to buying currency - where youre say "trading" at 1.18 does that mean you can buy it at that or not? do you buy it at slightly less - I go on holiday next week and am looking where to get my euros from but all i can find at the moment is 1.12 - does anyone have any reccomendations of where to get euros from at higher rate than this? thanks in advance x

the 'trading at' prices are referring to interbank trades in the currency markets, which of course have a direct effect on high street tourist exchange rates (generally 2 or 3 points lower)

best rate i have personally seen is 1.13 from BBV Bank in Cannon Street, London - but that was early this morning, before the interbank rate moved higher again in the past hour

i'm sure others on here will find you a better rate than that

inspector_monkfish

1.1855 trading

muchacho

I've been told Lloyds TSB are trading at 1.1256 today but as I bank with them, there is no charge and the same applies when I come back if I want to change them back to Sterling.

What do you think - go for it?

Bananasplit

muchacho wrote: »

I've been told Lloyds TSB are trading at 1.1256 today but as I bank with them, there is no charge and the same applies when I come back if I want to change them back to Sterling.

What do you think - go for it?

When do you need the money for? You can get higher rates by ordering online.