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Currency Rates---Euros etc (Read 3721 times)
toto
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Currency Rates---Euros etc
Jun 3rd, 2003, 10:21pm
 
Smiley SmileyHi m8s,Has anybody recently returned from EUROPE on holiday---for example Spain---I have booked my hotel
in majorca and its going to cost me 1080 euros when i get there----so i rang the bank and asked for an exchange rate into pounds sterling,had a bit of a shock,it seems the euro is strengthening against the old pound and its  going to cost over 800---does anybody think if i would be better taking sterling out there instead and then converting it into euros---any comments would be greatfully accepted----regards TOTO Wink
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ianskill
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Re: Currency Rates---Euros etc
Reply #1 - Jun 3rd, 2003, 11:15pm
 
as u mention exchange rates,when we go abroad to spain we have found the exchange rate always better in spain than over here.we take notes and always go to the no commision places.todays rate at 1.38 to the pound is 778.571 pound for ur hotel.i would be tempted to exchange abroad for better still rate,but wait for other replies here m8
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u know me!i like free tv
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BUNTER
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Re: Currency Rates---Euros etc
Reply #2 - Jun 4th, 2003, 1:02am
 
the best rates going is from the fiancial department in every marks and sparks (mark&spensors) failing that take a chance with dosh but if you get robbed of it you get next to nothing in a insurance claim.
 
best to play safe
 
and the next time you book a holiday give us a call first I will sort you out toto m8!
 
bri Grin Wink
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abr
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Re: Currency Rates---Euros etc
Reply #3 - Jun 4th, 2003, 7:26am
 
hi toto.
like bri said it is better to be safe than sorry.
we use travellors cheques get them from lloyds/tsb.
we always take some english currency but only enough to last  
2/3 days.
we change the cheques back if we have any left when we get back home
toto try this currency converter
the 1080 euro's come to less thamn 800.
http://www.xe.com/ucc/
all the best and have a good holiday when you get there
arthur Grin Grin Grin
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« Last Edit: Jun 8th, 2003, 10:55pm by abr »  
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locktightT
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Re: Currency Rates---Euros etc
Reply #4 - Jun 4th, 2003, 7:29am
 
Hi m8's
 
A m8 of mine recently bought a small flat in Sapin as a holiday home, he started the process of buying it in January but didn't manage to sort the new mortgage and complete the deal until May.
 
All in all it cost him an extra 11K with the movement in the exchange rate! It all started, I think, when we started the Iraq war, still not recovered though undecided
 
@toto
 
Might be worth asking your bank/credit card co m8, I was on holiday in the US recently, some of the best rates I got were on my plastic, although you have to be carefull as it changes every hour or so.
 
T
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toto
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Re: Currency Rates---Euros etc
Reply #5 - Jun 4th, 2003, 3:03pm
 
Smiley SmileyThanks lads for those very comprehensive replies,I am going to hang fire for a while week or two,then i will phone my friend Mercedes at the hotel see what she can do for me and basically take it from there---but as you say its pointless panicking at this stage-----and yes Locktight you are quite correct it all started with the war in  Iraq----thanks again lads----TOTO Wink
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BUNTER
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Re: Currency Rates---Euros etc
Reply #6 - Jun 8th, 2003, 10:00am
 
keep this in mind-
since last week when it became known that the central european bank reduced its interest rates to 2.5% and at the same time the bank of england kept their rates at 3.5% most money dealers are buying pounds because it offers more profits for them and if the uk rejects emu on monday most dealers expect the pound to gain in value again!
 
regards,
the market guru! Grin Wink
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toto
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Re: Currency Rates---Euros etc
Reply #7 - Jun 8th, 2003, 11:38am
 
SmileyHello m8,Well Bunter m8 you have done it again----is there any subject that you dont know about?----and i hope you are right about the interest rates----as a matter of fact i have noticed over the weekend the pound is slowly strengthening again against the Euro---as far as i am concerned they can keep the F**king euro
and i am sure everybody else will feel the same come the referendum---thanks again Toto Wink
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clivew
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Re: Currency Rates---Euros etc
Reply #8 - Jun 8th, 2003, 9:18pm
 
The only people who make money on FX are the banks.
If we were in the euro all this uncertainty with regard to how much a holiday is going to cost when you actually pay for it goes away.
The euro has stregnthened by around 15% against,an overvalued ,sterling and maybe Bunter,s right or maybe he is wrong that it may strengthen in the short term but who knows.
Dont buy euro,s from the airport or your local bank because you will get screwed royally all the way to the bank as they say.Dont change the money in your hotel.
change it in a reputable money changer over there.
Isnt Gordon going to say tomorrow that we ought to be in the euro but the UK hasnt got its act together yet and that a group of head in the sand idiots would vote against entery.Before anyone takes too much offence have a look at whose shouting loudest against:
Murdoch and the UK capitalist press;
The city of London and the UK financial institutions;
The far right;
The conservative party radicals ex Heseltin and Clark.
The UK receives more in grants from the EU than it contributes because most of the UK is an undeveloped
area in EU terms.Recently we got 200 million to keep the rural post offices open!!!
Our taxes are too high;
Our pensions are too low;
Our unemployment figures massaged (Maggie Thatcher);
Duty and excise taxes are out ragious.
House prices are out of control etc etc
Clivew
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bob54
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Re: Currency Rates---Euros etc
Reply #9 - Jun 8th, 2003, 10:43pm
 
Hi abr,
I thought Eurocheques had died a death at least that is what HSBC informed me about 9 months ago.
Toto have you thought about taking dollar traveller cheques. I tend to split mine when travelling.
Long live Sterling forget the Euro.
Bob54
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I made this
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abr
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Re: Currency Rates---Euros etc
Reply #10 - Jun 8th, 2003, 10:54pm
 
@bob 54
i must apologise i should have said travellors cheques and not eurocheques m8.
the wife informs me that is what we take.
this time when we went to america we took dollar travellors cheques.
thanks for putting me right .
i will edit my previous post.
arthur Grin Grin
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toto
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Re: Currency Rates---Euros etc
Reply #11 - Jun 9th, 2003, 8:43am
 
SmileyPhew,i have really opened up a can of worms here have'nt i?------Still  i will wait and see what happens ---but it is looking a bit better than it was a week  or two ago---thanks again ---Toto Wink
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clivew
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Re: Currency Rates---Euros etc
Reply #12 - Jun 9th, 2003, 9:44am
 
With the introduction of the Euro eurocheques became unnessesary because it is possible to go to any cash machine,Cirrus,in europe,except of course the UK and withdraw euro,s in cash.It is also possible for larger amounts to authorise any vendor to debit your eurocard in the same way as we use a debit card in the UK ie switch.At the sametime EU legislation was past to ensure that banks did not charge a commission for doing this.We didnt want granny going to a euro cash machine and getting stuffed.hilst in the UK there is no charge for taking sterling the FX charge of 2% or higher is levied if the card is used in Europe to get euro,s.I didnt mention this option to Toto because he needs a switch card which he probably has but would be charged for each transaction.Unlike european banks who let there customers take cash to the authorised limit on thier cards with no commission poor Toto is restricted to the equivalent of 100 and thus would have to pay eight commissions to get his 800 holiday money.Additionally of course he will pay the difference between the buy and sell rate speard to give our chums in the High Street Banks a double charge for giving him his own money.They like this because if,like the european banks,they had a zero charge they probably couldnt survive because of thier gross inefficiencies!!
Whilst on the popic does anyone know why the UK hasnt signed up to the social chapter on workers rights with regard to terms and conditions of service including redundancy,holidays,communications,right to belong to a trade union,sex descrimination.Could it be that we like to have a fuedal system of serfs in the UK to do our bidding?
How about the rights of us all to be consulted on matters that impact us in the workplace?
The fat cats seem to be doing fine with thier contracts when they are fired.Why no let all of us have equal treatment!!
Clivew
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