Sterling in freefall
#1
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Sterling in freefall
Yep the pound has lost 6 cents off of its exchange value in 19 days. Nobody seems to bat an eyelid about it anymore.
On saturday we walked into Thompsons and exchanged £500 into euro for this friday. Got a tourist rate of 1.181. This morning the business rate was just 1.17. Now that is some drop in value in such a short time.
On saturday we walked into Thompsons and exchanged £500 into euro for this friday. Got a tourist rate of 1.181. This morning the business rate was just 1.17. Now that is some drop in value in such a short time.
#2
Family man
Joined: Nov 2007
Location: Playa Flamenca, Orihuela Costa
Posts: 542
Re: Sterling in freefall
Yep the pound has lost 6 cents off of its exchange value in 19 days. Nobody seems to bat an eyelid about it anymore.
On saturday we walked into Thompsons and exchanged £500 into euro for this friday. Got a tourist rate of 1.181. This morning the business rate was just 1.17. Now that is some drop in value in such a short time.
On saturday we walked into Thompsons and exchanged £500 into euro for this friday. Got a tourist rate of 1.181. This morning the business rate was just 1.17. Now that is some drop in value in such a short time.
Or am I reading it wrong?
#3
Re: Sterling in freefall
Sooner it gets back to 1€ to 1UKP the better.. I´m trying to buy a car over there!
#4
Re: Sterling in freefall
The current problem is with the Dollar. It has dropped badly in the last few days so both the £ and the € have gained against the $. Unfortunately when this happens the $ always gains more than the £ so the £ drops against the Euro.
#5
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Re: Sterling in freefall
chers for the quick explanation fred, I always seem to forget about what the dollar is doing. I'm fixated on the sterling/€ exchange because of the monthly mortgage payment
Just because the euribor increased slightly, last month my mortgage soared by 26€. This month with an exchange rate like that its going to cost me even more, (fewer € to the £ for the guy who asked)thumbdown:
Just because the euribor increased slightly, last month my mortgage soared by 26€. This month with an exchange rate like that its going to cost me even more, (fewer € to the £ for the guy who asked)thumbdown:
#6
Re: Sterling in freefall
There is still a good exchange rate to be had at
http://www.travelmoneyservices.co.uk/
I was buying yesterday at 1.2493 But it will soon drop.
Grab it whilst you can... delivery is only in a months time.
We have used this site for a while and never had any problems.
http://www.travelmoneyservices.co.uk/
I was buying yesterday at 1.2493 But it will soon drop.
Grab it whilst you can... delivery is only in a months time.
We have used this site for a while and never had any problems.
#7
Re: Sterling in freefall
There is something very odd about the rates they are quoting.
They are currently looking at about 1.16 and then it suddenly jumps to 1.23 and then back down again.
The rate you quoted is higher than is has been for a year and that's the interbank rate!
Very odd.
They are currently looking at about 1.16 and then it suddenly jumps to 1.23 and then back down again.
The rate you quoted is higher than is has been for a year and that's the interbank rate!
Very odd.
#8
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Re: Sterling in freefall
The drop from 1,22 to 1,17 in a week is frightening. Most of our income is UK based and despite having a small Spanish income as well, we could not survive on those figures if they persist at that level of decrease for too long.
At a push we can even survive at parity, but there would come a time when it is no longer feasible to live with such an exchange rate.
I don’t suppose we would be alone on those ferries heading home.
At a push we can even survive at parity, but there would come a time when it is no longer feasible to live with such an exchange rate.
I don’t suppose we would be alone on those ferries heading home.
#9
Re: Sterling in freefall
The drop from 1,22 to 1,17 in a week is frightening. Most of our income is UK based and despite having a small Spanish income as well, we could not survive on those figures if they persist at that level of decrease for too long.
At a push we can even survive at parity, but there would come a time when it is no longer feasible to live with such an exchange rate.
I don’t suppose we would be alone on those ferries heading home.
At a push we can even survive at parity, but there would come a time when it is no longer feasible to live with such an exchange rate.
I don’t suppose we would be alone on those ferries heading home.
#10
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Re: Sterling in freefall
For years now, it’s been a strange way to live. We were stone rich with the Peseta, and the euro when it started at 1.67 to the pound. We didn’t want to be stone rich, but we did want to some stability in our lives.
We’ve got none now, we’re living in a casino world. Someone, somewhere is gambling with our money and there’s nothing we can do about it. A strange guy called Soros could be in control of my destiny, and I don’t like it.
We’ve got none now, we’re living in a casino world. Someone, somewhere is gambling with our money and there’s nothing we can do about it. A strange guy called Soros could be in control of my destiny, and I don’t like it.
#11
Lost in BE Cyberspace
Joined: Feb 2008
Posts: 5,614
Re: Sterling in freefall
For years now, it’s been a strange way to live. We were stone rich with the Peseta, and the euro when it started at 1.67 to the pound. We didn’t want to be stone rich, but we did want to some stability in our lives.
We’ve got none now, we’re living in a casino world. Someone, somewhere is gambling with our money and there’s nothing we can do about it. A strange guy called Soros could be in control of my destiny, and I don’t like it.
We’ve got none now, we’re living in a casino world. Someone, somewhere is gambling with our money and there’s nothing we can do about it. A strange guy called Soros could be in control of my destiny, and I don’t like it.
#12
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Re: Sterling in freefall
The drop from 1,22 to 1,17 in a week is frightening. Most of our income is UK based and despite having a small Spanish income as well, we could not survive on those figures if they persist at that level of decrease for too long.
At a push we can even survive at parity, but there would come a time when it is no longer feasible to live with such an exchange rate.
I don’t suppose we would be alone on those ferries heading home.
At a push we can even survive at parity, but there would come a time when it is no longer feasible to live with such an exchange rate.
I don’t suppose we would be alone on those ferries heading home.
Unless of course the eurobank relents on keeping the euro artificially high as it has been for the last year.
#13
Re: Sterling in freefall
We've used them for a couple of years and never had a problem.
#14
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Re: Sterling in freefall
The European bank has done some QE, but not at the same levels.