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Best buy for euros? Should i buy now or wait a month?

18
Found 13th May 2008
I am going to Portugal in mid June and need to purchase £500 of euros should i buy them now or wait ? Any financial experts out there got nt tips on how the euro will go ijn the next month?

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18 Comments

I would say buy now.

Original Poster

why??

I would recommend you wait and exchange them out there, I always seem to get a much better deal in Spain than over here. I have used Travelex at the airport before though, you can reserve them online to collect at the airport and I think the earlier you reserve them the better rate they give you, its often higher than their current rate.

cant say on what will happen with the exchange rate, but M&S have a Euros cash machine in some store with no charge and a good rate, and Nationwide dont charge on their debit cards for withdrawals abroad

I can't see pounds going up. IMHO, I think it will eventually go to £1 = €1.
Better get it commission free in UK.

I never pay commission, either here or abroad, many competitive places don't charge now.

just in case anyone is interested
comparetravelmoney.com/
not sure how accurate the site is as it shows Nationwide charges £3.50 but I am sure they dont on a debit card

Banned

I'd wait - the German economy is faltering and many sources believe that they will have to cut interest rates as well - once the largest european country starts to drop the Euro will start to level off. Probably going back to around the £1 to 1.35 Euro Mark and maybe even better.

I'd also go to street bureau de change and barter with them. I get great rates, on my terms with no commission. Tending to get half a cent off the mid-market rate. Check [url]www.xe.com[/url] for the mid-market figures.

Hope this helps.

get them now, apparently it is going to end up at 1 to 1 as ck2 said, but a tip (as my mum works in a bureau de change) is too hanggle the rates, and go round to all the places and ask for their best rates. you should get a better deal with changing £500 worth.

ck2;2091415

I can't see pounds going up. IMHO, I think it will eventually go to £1 = … I can't see pounds going up. IMHO, I think it will eventually go to £1 = €1.Better get it commission free in UK.


What do you base your opinion on? Do you work in the financial sector?

If you're anywhere near London the most competitive place do buy Euros is Thomas Crown Exchange on the Strand - collecting from the shop. [url]www.thomasexchangeglobal.co.uk[/url]. We got 1.25 on Friday although the rate is down to 1.2375 today. They do deliver but then you have to factor in the £5 delivery/insurance charge and there is a minimum order of £500. If you visit the shop and are paying by card don't forget to take some ID, proof of address and passport or photo driving licence. You don't need these if paying with cash. Also, Crown exchange is a good site with comparable rates and no charges. If you aren't short of cash you can place a pre-order now for delivery in say December and secure a better rate. On Friday they were offering 1.29 for delivery in December - payment up front. Although your money could have earned the difference sitting in a high interest savings account for six months!

Get yourself a Nationwide account asap and deposit cash before you go.No cost for using a debit card in machine abroad.I have done this for last 5 years with no probs and exchange rate is whate rate is in UK on day of transaction.Generally nearer peak of season rate gets higher ! Who knows what it will be?

read this thread its on US$ but basically the same proinciple applies to all forex:

hotukdeals.com/ite…rs/

Nationwide is good! ;-}

independent.co.uk/new…uro

For holidaymakers, however, the collapse of the pound has an earthier reality that will curtail their spending power in shops and restaurants in Ireland and on the Continent. In practice, it means spending money of £500 earmarked for eating out, trips and presents is now worth only £415 in the 15 eurozone states.

trust me,
i have inside information that the euro WILL continue falling. you should definately purchase them now or you will get less in a month

asky;2092179

trust me,i have inside information that the euro WILL continue falling. … trust me,i have inside information that the euro WILL continue falling. you should definately purchase them now or you will get less in a month



Do you have the numbers for tomorrow night?


Don't post them here, just PM me.
Don't want all these bu****s sharing the big one.:thumbsup:

rockyfella;2092278

Do you have the numbers for tomorrow night?Don't post them here, just PM … Do you have the numbers for tomorrow night?Don't post them here, just PM me. Don't want all these bu****s sharing the big one.:thumbsup:



nope im a businessman not a joe punter

trust me,
i have inside information that the euro WILL continue falling. you should definately purchase them now or you will get less in a month

WRONG!

It will start to rise - soon enough

If you read an earlier post - the eurozone will follow suit as it's economy dives due to the lack of trade and high oil prices - Germany has already made waves to cut interest rates and when that happens the euro will rise. I give it a month and the euro will be 1.35. It already went from 1.22 - 1.28 last week just on hearsay over the German economy.

The U.S always falls into recession first, followed by the UK and then the rest of Europe - who can't escape the current crisis even if they think they're better off.

I'm waiting to buy.
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