Euro (€) Currency Thread

redwin11

Your point is essentially right - the difference between 1.116 and 1.118 is minimal for the majority of people traveling. And for most people over the past 5/6 years, the exchange rate is something you checked perhaps a week leading up to changing your money, cos it barely changed.

But things are different now. For a lot of people who only go abroad every summer, they were getting almost 1.33 last time round, i.e- €400 for £300, whereas now they're getting only €340. That's a big difference, hence the sudden obsession in the rate. Any rate increase is a bonus!

alwaystryingtosaveabob

I actually quite like the excitement of it all. Getting and bartering for the best deal is all part of the fun of it. I rarely pay full price for anything and these days looking out for the best deals doesn't take up a great deal of my time, but the savings are worth it to me. I don't see it as a waste of my time for little gain, but power to this consumer who refuses to pay even a few pence more than I need to for anything. Call it a hobby more than anything. Everyone is different though.

When we went to France last year and the rate was better than it is now, we still found it very expensive. This year, with the rate being so bad, we knew it was going to cost us more, so we have saved for it, but the more Euro we can get for our money the better. It doesn't help us that we hire a Gite and have to pay up front 200 Euro's in cash as a deposit, then cash for bed linen hire and cleaning adds up to 300 Euro's in cash we have to buy no matter what. We do get 200 Euro's back, but then we are having to exchange them back again.

With the Euro rate in comparison to last year, it is a difference of £50 to us which is a lot. Like someone pointed out, that's a days food or a family trip to the Zoo or Museum for us. We are on a budget like most people are and I think we are ripped off enough without paying more than we need to for anything. So yes, actually I am disapointed a few weeks ago I could have got 20 Euro's more for my money than I can now. My phone calls are free, and all it costs me is my time, so I don't suppose anyone would pass up £17 for free would they? It is after all a money saving website is it not??

inspector_monkfish

14:48 30Jul09 EUR/GBP: Weighed Down by IMF"s Low ECB Interest Rate Call

London, July 30.

EUR/GBP has dropped to a July low of 0.8511 on the back of the IMF"s
Reuters-reported call on the ECB to keep EZ interest rates low for some time.
0.8500 is a support point. The cross traded as low as 0.8437 on the last day of
last month (June 30).

inspector_monkfish

1.1755 trading

cooper_d

How much difference is an ECB rate cut on the 6th likely to make?
Need to exchange £5000 and wondering wether to wait or not.

I'm planning to use travelex and then claim the difference back against Thomas Global.
I'm with nationwide but I don't think there is a way to get such a large sum off my card at the visa rate.

Thanks.

inspector_monkfish

cooper_d wrote: »

How much difference is an ECB rate cut on the 6th likely to make?
Need to exchange £5000 and wondering wether to wait or not.

I'm planning to use travelex and then claim the difference back against Thomas Global.
I'm with nationwide but I don't think there is a way to get such a large sum off my card at the visa rate.

Thanks.

i wouldn't bank on the ECB doing anything.
they are stubborn little g!ts !!

do half now, and half after the meeting maybe

inspector_monkfish

1.1727 trading to start the day

happy friday :beer:

a_sav

Ooh looking good but Thomas Cook Global showing 1.158 undecided to get some

inspector_monkfish

From todays FT:

The euro ceded early strong gains after the International Monetary Fund warned the single currency was overvalued and that the European Central Bank should keep eurozone interest rates low for some time.

http://www.ft.com/cms/s/0/42c303c0-7ce8-11de-9f29-00144feabdc0.html?nclick_check=1

inspector_monkfish

EuroZone unemployment just announced worse than expected: 9.4% unemployed (up from 9.3% last month)

EuroZone inflation just came in lower than expected: -0.6% (down from -0.1%)


EUR/GBP rate up to 1.1755 now