Dimond Geezer Posted 15 May, 2012 Share Posted 15 May, 2012 My son will be going on a school trip in July & will need some Euros. How will the almost inevitable Greek implosion & affect the exchange rate. Should I be buying now or wait a few weeks? I know next to nothing about economics (a bit like most economists), but my feeling is that the Euro will start to fall against the £, so it's probably best to buy now? Link to comment Share on other sites More sharing options...
Minsk Posted 15 May, 2012 Share Posted 15 May, 2012 If the Euro were to fall against the pound (as I expect it might should Greece implode) it would be better to wait. Certainly, the Euro has fallen against the dollar today because of the fear of a Greek implosion. However, I doubt it will change too drastically. So even if you are going to exchange a few grand you may only save enough for a couple of beers by waiting. But a couple of beers is a couple of beers!! (Just my opinion though - I am also no expert.) Link to comment Share on other sites More sharing options...
This Charming Man Posted 15 May, 2012 Share Posted 15 May, 2012 Unless you're sending your son off with €10k for his trip, it doesn't matter. The amount you might save would be minimal at best. Link to comment Share on other sites More sharing options...
Saintandy666 Posted 15 May, 2012 Share Posted 15 May, 2012 An 'expert' on the TV the other day said for the best exchange rate, it's worth just to keep waiting as he suspects it'll just fall more and more as the summer roles on right down to a low of €1.30 to the pound. I'm certainly getting a lot more Euro for my pound than when I last needed Euros in September. Sainsbury's seem to have the best rates from when I was looking around last week. Link to comment Share on other sites More sharing options...
Deano6 Posted 15 May, 2012 Share Posted 15 May, 2012 Well Qatar and Russia bought the World Cup, so I don't see why not! Link to comment Share on other sites More sharing options...
dune Posted 15 May, 2012 Share Posted 15 May, 2012 Unless you're sending your son off with €10k for his trip, it doesn't matter. The amount you might save would be minimal at best. Yep. We've already seen the EURO move from 1:1 to 1:1.2, so it's better than it was (although not at the 1:1.4 levels we saw a few years ago). The EURO will continue to weaken though IMO. There is of course the chance that we will print more money and it could go the other way again. My advice is to visit http://travelmoney.moneysavingexpert.com/holiday-money/ I find that SAGA is the best bet (and i've used them many times) if you are ordering more that 300 quids worth http://www.saga.co.uk/insurance/travel-insurance/travel-money.aspx , certainly better than buying on the high street and they deliver "free" of charge by next day special delivery. Link to comment Share on other sites More sharing options...
Saintandy666 Posted 15 May, 2012 Share Posted 15 May, 2012 Just been announced that Greece IS heading for new elections... so there won't be a fast recovery soon as everything is still up in the air. Link to comment Share on other sites More sharing options...
dune Posted 15 May, 2012 Share Posted 15 May, 2012 Just been announced that Greece IS heading for new elections... so there won't be a fast recovery soon as everything is still up in the air. Wow, that's a surprise. The sooner they get on with it and leave the EURO the better, because this whole episode needs to play out. Once Greece leave and get a weak Drachma they will start to recover, and that is what really scares the sh/t out of Germany, because once the Italians and the Spanish see this they'll be think "i'll be having some of that"... BRING IT ON. Link to comment Share on other sites More sharing options...
dune Posted 15 May, 2012 Share Posted 15 May, 2012 BTW Andy are you now seeing the error of your ways in supporting a bonkers party like the Lib Dems who wanted us in the EURO? Link to comment Share on other sites More sharing options...
Saintandy666 Posted 15 May, 2012 Share Posted 15 May, 2012 BTW Andy are you now seeing the error of your ways in supporting a bonkers party like the Lib Dems who wanted us in the EURO? The Euro in itself was a sound project and worked well during prosperous times. It is just a victim of A. A world financial crisis and B. Not sticking to its own rules by letting a country like Greece in. However, I, myself, never wanted to join the Euro. I'll review that in 5 years time. Link to comment Share on other sites More sharing options...
dune Posted 15 May, 2012 Share Posted 15 May, 2012 The Euro in itself was a sound project and worked well during prosperous times. It is just a victim of A. A world financial crisis and B. Not sticking to its own rules by letting a country like Greece in. However, I, myself, never wanted to join the Euro. I'll review that in 5 years time. How the **** was it ever a sound project having a single currency for independent economies? Like I say it was a bonkers idea supported by bonkers idiots like the Lib Dems. Link to comment Share on other sites More sharing options...
Saintandy666 Posted 15 May, 2012 Share Posted 15 May, 2012 How the **** was it ever a sound project having a single currency for independent economies? Like I say it was a bonkers idea supported by bonkers idiots like the Lib Dems. In your opinion. Link to comment Share on other sites More sharing options...
dune Posted 15 May, 2012 Share Posted 15 May, 2012 (edited) In your opinion. It's not an opinion, i'm right. That facts speak for themselves. Thank god British people are more intelligent than oddball Lib Dem politicians and their oddball supporters. Edited 15 May, 2012 by dune Link to comment Share on other sites More sharing options...
stev2001 Posted 15 May, 2012 Share Posted 15 May, 2012 Buy euros online, much cheaper. I've done it and saved loads when exchanging quite a lot. Just pray that the company you buy from doesn't go bust like what happened to a friend of mine, buy from a big reputable firm. Link to comment Share on other sites More sharing options...
dune Posted 15 May, 2012 Share Posted 15 May, 2012 Buy euros online, much cheaper. I've done it and saved loads when exchanging quite a lot. Just pray that the company you buy from doesn't go bust like what happened to a friend of mine, buy from a big reputable firm. Definitely this. You're only talking pennies between the best deal and the best reputable deal. Link to comment Share on other sites More sharing options...
Dimond Geezer Posted 15 May, 2012 Author Share Posted 15 May, 2012 (edited) Cheers guys, the concensus appears to be to wait & get more Euros to my quids. I realise we're only talking beer money really, but my son has saved up some of his own money for this, so I want to get him the best price I can, although I'm sure the bank of Dum & Mad will top him up a little. Minsk, I'm aware that if the Euro was to fall it would be better to wait, not sure why I typed otherwise, it's been a long week. . Edited 15 May, 2012 by Dimond Geezer Link to comment Share on other sites More sharing options...
Orange Posted 15 May, 2012 Share Posted 15 May, 2012 How the **** was it ever a sound project having a single currency for independent economies? Like I say it was a bonkers idea supported by bonkers idiots like the Lib Dems. Exactly. Deluded for countries in such different economic positions to have the same currency. Link to comment Share on other sites More sharing options...
dune Posted 23 May, 2012 Share Posted 23 May, 2012 Yep. We've already seen the EURO move from 1:1 to 1:1.2, so it's better than it was (although not at the 1:1.4 levels we saw a few years ago). The EURO will continue to weaken though IMO. There is of course the chance that we will print more money and it could go the other way again. My advice is to visit http://travelmoney.moneysavingexpert.com/holiday-money/ I find that SAGA is the best bet (and i've used them many times) if you are ordering more that 300 quids worth http://www.saga.co.uk/insurance/travel-insurance/travel-money.aspx , certainly better than buying on the high street and they deliver "free" of charge by next day special delivery. Based on what Christine Lagard said (she'd have been given a script from our government) it does indeed look like we'll be printing more money (or to use the buzzword for it - more quantitative easing) so I don't see sterling strengthening any more against the EURO. Link to comment Share on other sites More sharing options...
KK the 2nd Posted 24 May, 2012 Share Posted 24 May, 2012 Always find firstratefx good value and very efficient Link to comment Share on other sites More sharing options...
Manuel Posted 24 May, 2012 Share Posted 24 May, 2012 I've looked on ebay before for people selling Euros and it seems to be the most expensive place, often far in excess of usual exchange rates. Is it just money laundering or something? Link to comment Share on other sites More sharing options...
dune Posted 24 May, 2012 Share Posted 24 May, 2012 I've looked on ebay before for people selling Euros and it seems to be the most expensive place, often far in excess of usual exchange rates. Is it just money laundering or something? no it's just people selling left over holiday money and getting a better rate than banks give when they change it back to sterling. Link to comment Share on other sites More sharing options...
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