Exchange rate with Currencies Direct
#16
BE Enthusiast
Thread Starter
Joined: Mar 2006
Posts: 827
Re: Exchange rate with Currencies Direct
[I wonder if they monitor sites like this....]
#17
Re: Exchange rate with Currencies Direct
I've been with Currencies Direct for quite a few years now and the rate used to be quite competitive, but I've been suspecting that something is not quite right for a while now since I noticed I can get a better rate through the cash machine, and even then with the added transfer charge.
I'll have to drop them an email and let them know I'm not happy with the rate they give me, then I suppose after they tell me that it's the best rate they can possibly do, I'll have to vote with my feet.
I'll have to drop them an email and let them know I'm not happy with the rate they give me, then I suppose after they tell me that it's the best rate they can possibly do, I'll have to vote with my feet.
#18
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,613
Re: Exchange rate with Currencies Direct
£ continues it's downward trend always concerns me when it goes below the 1.18 point as last time it just plummeted from there and seems to struggle to get back up. It is quit amazing really how quickly it swings from one to the other.
#19
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Exchange rate with Currencies Direct
seems like some of those currency traders are taking a pop at the £sterling again. Looks like a few new cars, holidays etc are needed before the end of the financial year.
Perhaps they should go back to trading pork belly slices
Perhaps they should go back to trading pork belly slices
#20
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,613
Re: Exchange rate with Currencies Direct
There was an American (I think) Currency Bod on the Politics show this lunchtime saying that the £ was in for a sharp devaluation, when they said well that is ongoing he said, I mean a sharp devaluation? so looks like as you say they have their sights on it.
#21
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Exchange rate with Currencies Direct
many have been saying for some time the £ is over valued, but it isn't just its relationship with dodgy currencies like the €uro but the rest of the world as well. I know the $ is defacto currency for things like oil but they don't exactly set the world alight either.
`
#22
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,613
Re: Exchange rate with Currencies Direct
Yes I am sure Osborne is quite happy at the minute he no doubt thinks let the Euro take the strain and we'll get cheap exports? although didn't really seem to work that way last time. I have enough in Spain to last me for a few trips and pay my bills I will just keep my pounds hoping it will get better.
#23
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Exchange rate with Currencies Direct
I must say I get very angry at "foreigners" telling us how we should do this and do that, like well, we are plain stupid.
and British media seems to thrive on using them
and British media seems to thrive on using them
#24
BE Enthusiast
Joined: Aug 2007
Location: Los Martinez
Posts: 858
Re: Exchange rate with Currencies Direct
we got 1.1962 which was set on the 4th january, the transfer actually took place on the 12th, don't know if this helps you or not.
#25
Forum Regular
Joined: Aug 2011
Posts: 47
Re: Exchange rate with Currencies Direct
The critical question is: Do you want to be a currency speculator? If not, I'd recommend just making regular transfers as needed so your "effective rate" over the long term simply follows the average.
When you take a position; in this case expecting that the GBP will recover, you are in much the same boat as the pundits. i.e. expressing speculative opinions but really not in any better position to predict the future (arguably in a worse position, depending on the pundit).
Take the average and you won't lose too much sleep over what might have been
#26
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,613
Re: Exchange rate with Currencies Direct
I have done that when I had a mortgage. At the moment I have enough money in Spain to pay my bills and for spending money for the next 12 months. I tend to only move small amounts these days so far from speculating I am just in a position that I do not need to move money right now. yes you are are right it may go down and not pick up as you say who knows. I am far from a speculator believe me.
#27
BE Enthusiast
Joined: Nov 2010
Location: Coventry
Posts: 437
Re: Exchange rate with Currencies Direct
On January 14th I got 1.1781
Kath
Kath
#30
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: Exchange rate with Currencies Direct
although I have an XE.COM account have never used it. (yet)