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    When do you think would be best to exchange Euros?

    We arnt going on holiday until October 2012, but I have the cash now, whats your personal opinion on buying Euros, should I get them now or wait?
    I dont follow finance etc so have no idea if the rates are good or not.

    What would you do?

    Hopeing someone can give some advice

    15 Comments

    I am in same boat, I think you need a crystal ball!

    Banned

    if anyone knew the right answer, they wouldnt be on this site!

    Banned

    For drugs.

    Planning for 17 months in the future. How much are you looking to take/save?

    Put the money in a fixed 12 month savings account and apply for a Halifax Clarity credit card (no fees for spending overseas)
    Edited by: "flyingflea" 23rd May 2011

    Where are you going? It has no relevance, I'm just nosy.

    Unless you are changing more than £5000 you'll only get the tourist rate.

    You can track Euro here

    But as you can see the rate was best last July.

    The Euro is strong at the moment because of the Gernan economy.
    It would need a default from Greece to stretch their banks and put pressure on it.

    Might be worth waiting to see if the UK interest rate hike will improve the exchange rate.

    Best idea is probably to pick an exchange level and when (if) it gets to that point then buy your Euros.

    Check prices with several travel agents - they usually give better exchange rates than Post Office, M&S and all banks for tourist amounts.

    If more than £5000 set up an account with a few FX agents and you'll get something closer to the spot price.

    How long is a piece of string... nobody on this planet can answer your question.


    If we could we would all be very rich.

    You can also use this site to track the Euro.

    Euro-Tracker

    The link points to the average monthly price, and you can change the year to whatever.
    There's also a daily chart as per the link provided by cannyscot.

    Banned

    And stupid question of the day is.....

    It's been hovering around the 1.1-1.15 mark for months now. No one can predict what it'll be like in 18 months time. If you're overly worried, why not exchange half now, half when you travel? That way, if the rate plumits, you'll be better off, but alternatively, if it rockets, you won't have missed out quite so much?

    Personally I would wait and stick it in savings/isa. It's all personal choice though and no one knows the exact answer but with UK interest rates set to rise and Greece due to be bailed out/default in the near future I would hang on

    Original Poster

    csiman

    if anyone knew the right answer, they wouldnt be on this site!



    very helpful thanks, i was asking peoples opinions....


    WoolyM

    Planning for 17 months in the future. How much are you looking to … Planning for 17 months in the future. How much are you looking to take/save?




    Only looking at £500 - £750


    flyingflea

    Put the money in a fixed 12 month savings account and apply for a Halifax … Put the money in a fixed 12 month savings account and apply for a Halifax Clarity credit card (no fees for spending overseas)



    Think thats what we will look at doing.


    angelfairee

    Where are you going? It has no relevance, I'm just nosy.



    Lol! Just going to Menorca for 2 weeks all inc with the family! Do you require any more info?


    cannyscot

    Unless you are changing more than £5000 you'll only get the tourist … Unless you are changing more than £5000 you'll only get the tourist rate.You can track Euro hereBut as you can see the rate was best last July.The Euro is strong at the moment because of the Gernan economy.It would need a default from Greece to stretch their banks and put pressure on it.Might be worth waiting to see if the UK interest rate hike will improve the exchange rate.Best idea is probably to pick an exchange level and when (if) it gets to that point then buy your Euros.Check prices with several travel agents - they usually give better exchange rates than Post Office, M&S and all banks for tourist amounts.If more than £5000 set up an account with a few FX agents and you'll get something closer to the spot price.



    Thank you VERY much, exactly what response i was hopeing for x


    Inactive

    How long is a piece of string... nobody on this planet can answer your … How long is a piece of string... nobody on this planet can answer your question.If we could we would all be very rich.



    Muchly unhelpful,.......


    dimebars

    And stupid question of the day is.....



    get lost you complete utter moron, i was asking for some advice

    _______________

    Thank you very much to the people to took their time to help me out with some advice, muchly appriciated.
    Think we will put it into a savings account and hope for the best nearer the time.
    Thanks again

    Banned

    Advice is don't ask stupid questions. Moron.

    See - we can both be insulting now!

    Enjoy your week stay in 2* self catering with the roaches.

    dimebars

    Advice is don't ask stupid questions. Moron. See - we can both be … Advice is don't ask stupid questions. Moron. See - we can both be insulting now!Enjoy your week stay in 2* self catering with the roaches.


    It wasn't that stupid a question, nono2522 admitted they didn't know much about finance, and cannyscot gave a comprehensive and helpful answer - there'd be no harm in taking a leaf out of their book
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