Euro (€) Currency Thread

dzug

So how's he going to get those euros? They are not going to pay him in cash, surely? If they do all well and good but any other way and he's on a sure fire loser - for him.

A good deal if it works but I suspect he hasn't thought the practicalities through. Unless he's desperate for the cash now and doen't mind taking a loss.

reliable65

ill do a bit more research etc

thanks for replies-looks like ill take his offer up as long as it is legit


Thanks Everyone

mad_rich

It's quite possible that this is a win-win deal.

If your friend is being paid in EUR (and in cash, even better) but needs GBP right now, he may be willing to sacrifice a little in the exchange rate.

But don't forget to work out what £1000 could earn you sitting in the bank for 7 months - and the added security risk of having €1500 lying around in cash for the same length of time.

flutsy

I doubt the interest on the pounds will be as much as the comission lost over that period.

Make sure you are not involved in laudered money though lol

lolarentt

reliable65 wrote: »

Off on hols next July

I have been offered 1500 euros for £1000 as long as i buy this week

should i take this or leave the £1000 in the bank til July gaining interest then get Euros then?

Even the FX dealers who exchange at near-business rate are well under 1.4/£ now so you're looking at a drop of some 7% or 8% in recent months from the heady days of 1.49euro/£. No doubt at all if you can really get that rate go for it!! There is little chance of it getting back there in the near future (unfortunately for those of us with houses on the continent but income from UK)

Mr_P_5

sorry its late and im confused. am i best getting euros for march time now or is it a bad rate at the mo?

thanks

marksandsparksgal

To be honest, with all the stuff that's going on with the banks at the moment, I can't see it getting any better any time soon (and believe me it's pretty poor now).

The only advice I can give is to open a Nationwide current account (if you don't have one already) ad to draw the cash out of a cash machine abroad and they give you a much better rate than you'll get here.

aimex

Not sure but the rate at the mo is terrible!

alanrowell

Mr_P wrote: »

am i best getting euros for march time now or is it a bad rate at the mo?

It's as bad as it's ever been - but that doesn't mean that it's going to get better

As with all future forex purchases the simple answer if that if we knew what was going to happen we'd be making a fortune in the city

Mr_P_5

no thats fine thought that was the case as radio to said euro worth 74.6p - sure it will get better thought it was bad just couldnt get my head round it!