Joao

I think my prediction (about 6 months ago) that for the end of this year (2008) 1 UK pound would equal 1 euro 20 cents might not be so far out. Currently it stands at 1.21489 euros for 1UK pound. Another set of crap data from UK over the next month could see it reach the 1.20 mark
I know a lot of people say that it is swings and roundabouts with currencies, what comes down will (eventually) go up, however, I'm not so sure. If you look back to the time when the euro came about (5 years ago) then the UK pound has slowly lost its way (it stood at 1.60 to the UK pound and stayed that way for a couple of years). Perhaps some might say that it (the pound) was overvalued, this might be true as the euro has not lost much ground against other non eu currencies. But the fact remains, despite yearly increases in my pension I get less for my UK pound now then I did 5 years ago. Fortunately, the cost of living (generally) in Portugal is still relatively low. Just have to buy less beers!!!!!!!!!
Joao

Cleri

And on top of that,my savings are not giving me the interest that I had,thanks to the massive slash in rates

TaviraTrog

I'm in the same boat but I just drink the cheap wine and don't think about. After all, there's nothing we can do about it is there?

TaviraTrog

That's it - rub it in. I was trying to forget about that.

masterjoiner

yep - its hurting us all....!!

More vinho colapsso senor!!

H

cavalierhome

Hmmmmm..... In the Spring the Euro was 1.67 US $ and now it is 1.26 US $ I would call that a decline... Nearly a collapse based on the rate of decline.

Fortunatly for us Americans… We not only screwed up our banking system but we in usual US fashion exported our mistakes to you.

You guys as usual so hungry for all crap American bought it all and now the whole world is screwed up.

So now the US dollar again looks like the safest currency and everyone all over the world is clamoring to buy US dollars and driving their value up.

Fortunately Oil is Dollar denominated and that has broth the cost of oil down just in time for the winter.

To simplify. There are two coins. The Euro and the US Dollar. All others are wannabe currencies. Buy Euros or Dollars or buy less.

My bill is in the mail.

Joao

If you go back over the years you will see that on 20/11/00 the euro to the US dollar was only 0.8488 cents, now it is worth 1.2747. But I agree that it has lost out since Spring of this year. Nevertheless the UK pound as steadily lost out against the euro, there have been very few ups and downs compared with the US dollar.
Joao
P.S. No fee required for this info

Big Ant

Interest Rates will keep sliding downwards for sure. I keep switching between GBP & EUR as my 'base currency'....makes me feel better, if not in reality Not much being written about the devastation of Pension Funds, what with Stock Markets down as well as residential & commercial property, surely these Funds, and therefore future (not current) pensioners are facing the 'perfect storm'.

CHOPPER

Yes as TT says there is nothing we can do about it, I have cut back on my HP brown sauce ration at dinner,only one dollop per day as that stuff is expensive to buy here but I feel we are still getting a good rate on the Euro to the Sagres.

Joao

Sagres has actually increased in price from 2.96 euros for 6 pack to 3.16 euros, that is in the blue and yellow shop beginning with an 'L', however if you hurry up they are selling 24 bottles of Super Bock for the price of 20. (But I bought 10 cases so not sure how many more are left in the store!!)
Joao

Cleri

Big Ant

According to my screens http://stooq.com/q/?s=gbpeur .....EUR just dipped below 1.20 to GBP

anna58

€1.1966 at 5.44pm.

Big Ant

Spooky times back in UK. Isn't going to help anyone trying to sell PT property, at least to inbound Brits.

cavalierhome

There is something all of us can do......


Take a good close look at AAA rated corporate bonds. NOT BOND MUTUAL FUNDS (too many redemptions by Joe public that has finally decided things are bad), they won't work but individual bonds.

With yields to maturity of as much as 14% you can get paid while you wait for the world to get better.

There is always a way to make money out there. Just have to be in it to know it.

Little things like that are why I get paid......