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Everyone in Europe just got 10% more expensive.

Chris27687

By Chris27687,
in The Saints

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angelman

angelman

Posted
Posted

Incorrect.

 

Payments are usually staggered over a period stretching years. The Pound is currently down 6.5% while the vultures feed on uncertainty. Wait a while and see what the FX rate is currently at a rate last seen at the beginning of 2015 and mid 2012. Was far lower between these dates and even lower in 2011 and before.

 

But hey, why not panic? All the Remain proponents are predicting doom and gloom for ever more.

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Window Cleaner

Window Cleaner

Posted
Posted
Brit player values to go through the roof even more so.

 

Not really 10%, the £ has been off colour against the Euro for months, bobbing about at 1.26 to 1.30 most of the time.

Today it's at about 1.24 so with the central bank inteventions it probably won't get much worse...hope so.

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CB Saint

CB Saint

Posted
Posted

The currency traders have been betting on a remain vote - the dollar got to 1.50 yesterday at the close. Now they have **** a brick and are reversing their positions, hence the fall. It dropped to 1.34 before come back to 1.37 now. One thing to consider, a couple of weeks ago it was 1.43 - so most of the movement has been pure speculation

 

Same goes for the euro

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Ken Tone

Ken Tone

Posted
Posted
Not really 10%, the £ has been off colour against the Euro for months, bobbing about at 1.26 to 1.30 most of the time.

Today it's at about 1.24 so with the central bank inteventions it probably won't get much worse...hope so.

 

The pound has dropped 7% against the Euro, less than against the dollar because the euro also dropped a bit.

 

It does seriously make you wonder if our prospective manager, whoever he is but assuming he is not Britsih, will have his agent frantically upping his wage demands this morning.

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Window Cleaner

Window Cleaner

Posted
Posted
The pound has dropped 7% against the Euro, less than against the dollar because the euro also dropped a bit.

 

It does seriously make you wonder if our prospective manager, whoever he is but assuming he is not Britsih, will have his agent frantically upping his wage demands this morning.

 

Not even 7% against yesterday's start value, less than 5% really. If you go back to last autumn the fall has been vertiginous,from 1.44 at best to this mornings value of 1.237 , but those of us who receive regular sums in GBP converted into euros have kind of gotten used to it. What is more concerning over football in particular will be the non-eligibility of certain EU players, even blokes lke Morgan don't make the cut. Then again nothing will be instantaneous so I'm sure solutions will be found.

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Ken Tone

Ken Tone

Posted
Posted
Not even 7% against yesterday's start value, less than 5% really. If you go back to last autumn the fall has been vertiginous,from 1.44 at best to this mornings value of 1.237 , but those of us who receive regular sums in GBP converted into euros have kind of gotten used to it. What is more concerning over football in particular will be the non-eligibility of certain EU players, even blokes lke Morgan don't make the cut. Then again nothing will be instantaneous so I'm sure solutions will be found.

 

 

I was quoting the BBC with 7%.

 

this from poundsterlinglive.com

 

 

 

  • Pound to euro exchange rate today down 6.4% at 1.2222
  • Euro to pound exchange rate: 0.8180
  • Pound to dollar exchange rate today is 9.8% down at 1.3415
  • Pound to Australian dollar exchange rate today 6.35% down at 1.8297
  • Pound to New Zealand Dollar exchange rate today 6.6% down at 1.9174
  • Pound to Swiss Franc exchange rate today 8.57% down at 1.3050
  • Pound to Yen exchange rate today 13.77% down at 1.3628

Anyway you look at it, today isn't a good day to try to get a foreigner to sign a contract of employment in the UK!

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Window Cleaner

Window Cleaner

Posted
Posted (edited)
I was quoting the BBC with 7%.

 

this from poundsterlinglive.com

 

 

 

  • Pound to euro exchange rate today down 6.4% at 1.2222
  • Euro to pound exchange rate: 0.8180
  • Pound to dollar exchange rate today is 9.8% down at 1.3415
  • Pound to Australian dollar exchange rate today 6.35% down at 1.8297
  • Pound to New Zealand Dollar exchange rate today 6.6% down at 1.9174
  • Pound to Swiss Franc exchange rate today 8.57% down at 1.3050
  • Pound to Yen exchange rate today 13.77% down at 1.3628

Anyway you look at it, today isn't a good day to try to get a foreigner to sign a contract of employment in the UK!

 

Don't know from where they get their figures or at what moment but these are not the bank to bank rates which are in

play at this very moment. Might be what you get from your local travel agency I suppose. Against the Euro the fall has been gradual for about 6 months now apart from a couple of blips where opinion polls have been wrong and there's been a bit of optimism in the markets. I'll lose about 200 euros a month compared to last autumn as it stands today.

However going back to football, those clubs who bought players on the never never last summer/autumn (like Martial) will find their remaining payments jacked up quite a bit unless the agreed price was in some other currency than sterling.

Edited by Window Cleaner
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rooney

rooney

Posted
Posted

The clubs who pay for European Players over a period,would have undoubtedly hedged their currency payments as the amounts and payment dates would be certain, especially with the Referendum coming up. Businesses do this all the time.

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Whitey Grandad

Whitey Grandad

Posted
Posted
The clubs who pay for European Players over a period,would have undoubtedly hedged their currency payments as the amounts and payment dates would be certain, especially with the Referendum coming up. Businesses do this all the time.

 

They can but there is a cost involved. Some just take the gamble and pay at the time, others buy all the money up front.

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captainchris

captainchris

Posted
Posted

Don't believe the bias media. The pound was at this level not long ago this year, it only went up recently on speculation that it would rise if 'in' won....

This evening share prices were back up to only a 2% reduction which considering everything is not that radical considering....

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david in sweden

david in sweden

Posted
Posted
We've voted to leave Europe so sorry, we shan't be going ;)

 

.......perhaps, but not until the ink is dry on the divorce papers, Whitey. That may take some time.

 

It won't effect our position in the European competitions, although hotel costs may be higher. Quite a few countries outside the EU play in Euro tournaments - don't they?

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Whitey Grandad

Whitey Grandad

Posted
Posted
.......perhaps, but not until the ink is dry on the divorce papers, Whitey. That may take some time.

 

It won't effect our position in the European competitions, although hotel costs may be higher. Quite a few countries outside the EU play in Euro tournaments - don't they?

 

Just a winky thing, David.

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