Euro (€) Currency Thread

JasonLVC

The problem with having a thread with the actual high street exchange rates will be that the high streets rates will vary massively between each high street retailer, every day, depending upon what profit margin each retailers wants to make.

The only thing that is a constant is the actual bank exchange rates as noted on here and the background explanation as to why the rates are moving up/down. It is this rate which will be used by the retailers to determine what price THEY sell at.

MSE Martin already has a currency exchange rate checker up and running which is a screenscraper of all the main high street/online exchange providers here :-

http://travelmoney.moneysavingexpert.com/

This is for those who wish to know how much they'll get for their currency at a given date/location.

melb

thanks for that - the number of hours I've spent on this site and never noticed that. I tend to just jump to the forums. thanks again

inspector_monkfish

melb wrote: »

I appreciate the effort that goes into updating these figures daily, but what relevance do they have to what rate you can get on the high street or internet when buying euros? Am I missing something as those rates are always much lower so would it be better to have a thread with actual exchange rates.

when the real market moves, so does the high street. its quite logical really !


1.1600 trading now

nc1873

Going on holiday on the 13th August.

Best i can get is 1.12 for the Euro at the Post office.

Not great but not bad.

Is it worth waiting hoping it might go hope or just get my Euros at this rate?

inspector_monkfish

nc1873 wrote: »

Going on holiday on the 13th August.

Best i can get is 1.12 for the Euro at the Post office.

Not great but not bad.

Is it worth waiting hoping it might go hope or just get my Euros at this rate?

wheres the fun in doing it now !!??
live on the edge and ride the fx rollercoaster for a couple of weeks.....

OR, you could just do half now and half later....


trading at 1.1610 this morning in the markets

inspector_monkfish

10:52 21Jul09 Sterling falls vs dollar as UK public finances weigh

* Sterling hits session low of $1.6400 <GBP=>
* Pound lower after hitting 3-week high vs dlr on Monday
* Public finances better than expected but record June gap

LONDON, July 21 - Sterling fell against the dollar on Tuesday after hitting a three-week high the previous day while the pound was also lower against the euro as deteriorating UK public finances weighed.

Both measures of Britain's public borrowing came in below forecast in June, data showed on Tuesday, though they still recorded their highest deficits for a month of June on record.


The public sector posted a net cash requirement of 18.980 billion pounds in June, slightly lower than the 20 billion pounds expected by analysts but a record high for the month.

The government's preferred accruals-based measure, public sector net borrowing, came in at 13.002 billion pounds, lower than the 15.5 billion pounds forecast but also a June record.

"June's UK public finances figures are a touch better than expected, but do absolutely nothing to alter the big picture that they are in a dreadful state," said Vicky Redwood, UK economist at Capital Economics.

Public finances remain on a sharply deteriorating path. In the April to June period, public sector net borrowing stood at 41.180 billion pounds, nearly double the level in the same period a year ago.
The government has forecast borrowing for the full year of 175 billion pounds, a record post-war high.

"The market is focused on longer-term fiscal issues for sterling, and if you do the math, it doesn't look comforting," said Phyllis Papadavid, currency strategist with Societe Generale. "We could end up with a twin (budget and current account) deficit situation in the UK."

By 0945 GMT, sterling was down 0.7 percent at $1.6427 <GBP=D4>, after hitting a session low of $1.6400. It had risen to $1.6555 on Monday, its highest since late June but was still far off a high of $1.6745 in that month.

The euro was up 0.6 percent at 86.52 pence <EURGBP=>, breaking above initial resistance around 86.40 pence. Traders cited stops from 86.60 pence upwards but others said there was little technical momentum to push it higher.

The head of Britain's Debt Management Office (DMO) told BBC radio on Tuesday he saw healthy appetite in international markets for UK government debt and it would take more than one sovereign rating downgrade to dampen it.

Asked if the debt office's ability to sell gilts would be threatened by any downgrade to Britain's AAA sovereign rating, DMO head Robert Stheeman said this was not a major worry.

"Ultimately it could affect the price at which we are selling gilts .... but my sense is that for overseas investors to be seriously concerned you would have to see not just one but possibly several downgrades," he said. [ID:nLAL002283]
An auction of 4.0 billion pounds of 4.00 pct conventional gilts met a decent response, with a cover ratio of 1.7 times. [ID:nLAC003384]

The dollar came off six-week lows against a basket of currencies <.DXY> after U.S. Federal Reserve Chairman Ben Bernanke discussed exit strategies in a Wall Street Journal opinion piece, but also indicated rates would not rise soon.
Bernanke kicks off his semi-annual congressional testimony at 1400 GMT.

"We could see the riskier currencies outperform at the expense of the dollar," SocGen's Papadavid said. "The market is looking to him (Bernanke) for a bit of optimism about the run in equity markets, although the jury is still out on that."

inspector_monkfish

1.1550 trading

inspector_monkfish

melb wrote: »

I appreciate the effort that goes into updating these figures daily, but what relevance do they have to what rate you can get on the high street or internet when buying euros? Am I missing something as those rates are always much lower so would it be better to have a thread with actual exchange rates.

what do you think makes those prices on the high street fluctuate ?

billykeats

Just got back from 2 weeks on the greek island of Zante.

Took €200 which I got from parents who live in Ireland at a rate of 1.12. Rest of the 2 weeks spending money went into our Nationwide FlexAccount and we got between 1.154 & 1.164 on withdrawing Euros from the cash machine. On the street in Greece it flucatuated from 1.10 in the busy area where all the youngsters were to 1.13 where all the families and couple stayed

Thought people might like to know if they are about to go away

inspector_monkfish

1.1550 trading