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Euro Exchange Rate

Posted: Fri Jan 16, 2015 3:17 pm
by Cruc
Just completed an exchange with Moneycorp and received 1.2950. It is at present at a 8 year high. :lol: :P :P That should make the pensioners happy :!: :mrgreen: :mrgreen:

Re: Euro Exchange Rate

Posted: Fri Jan 16, 2015 3:54 pm
by filippos
Say thanks to the Swiss National Bank who yesterday unhitched their Franc from the Euro to which they had pegged it since, I think, September 2013. The Euro's done a dive against many major currencies.

The move has also caused problems for a few exchange 'traders', aka gamblers.

Re: Euro Exchange Rate

Posted: Fri Jan 16, 2015 5:48 pm
by Kilkis
It makes anybody who has money salted away in Swiss Francs even happier Cruc. It is widely expected that the ECB will go ahead with some form of QE later this month. If that happens it is probable that the Euro will sink even further against other major currencies. Note copious use of italics. No guarantees.

Warwick

Re: Euro Exchange Rate

Posted: Fri Jan 16, 2015 6:40 pm
by richardm
Try, UKForex Currency Converter
present exchange rate
1 GBP = 1.3130 EUR
we use them always.

Re: Euro Exchange Rate

Posted: Fri Jan 16, 2015 8:05 pm
by filippos
Kilkis wrote:It makes anybody who has money salted away in Swiss Francs even happier ....
That's OK if you think it's good to hold Euros right now: I want as few Euros as possible in present circumstances but I'll need some soon for day to day spending and will probably use GBP to get them if the €/GBP rate stays around or better than today's rate. I'd be slightly tempted to acquire a few USD to hold for a year or three. That said I want as little as possible in Greek banks in any currency.

I've found that on most occasions I get the best FX rates from XE.com whom I've used for years. (Don't rush, they've stopped taking new clients bas ed in Greece).

Gold & silver prices has moved up quite sharply in the last couple of days, too: gold about $52 per oz. just now and silver up 7.5% on the week.

Re: Euro Exchange Rate

Posted: Fri Jan 16, 2015 11:21 pm
by Kilkis
filippos wrote:
Kilkis wrote:It makes anybody who has money salted away in Swiss Francs even happier ....
That's OK if you think it's good to hold Euros right now: ...


Sorry, I don't understand that comment. If the Swiss Franc is going up surely holding Swiss Francs is a good thing whether you want to hold Euro or not? The Swiss Franc strengthened against Sterling and the US Dollar and presumably most other major currencies as well. It was the Swiss Franc that was being suppressed by the cap and was suddenly set free. OK, the Euro probably suffered more than other currencies because SNB were having to buy other currencies but especially the Euro.

My bet is that the Euro will weaken further, especially if the ECB really starts QE big time, so I agree I don't want to be holding Euro but it still wouldn't stop me being happy if I had some Swiss Francs, which I don't unfortunately.

Warwick

Re: Euro Exchange Rate

Posted: Sat Jan 17, 2015 12:05 am
by Phaedra
Kilkis wrote:It makes anybody who has money salted away in Swiss Francs even happier ....



Warwick


That'll be me then. Ha ha!! Mind you, it's not going to be very good for Swiss exports and Swiss tourism :-(

Re: Euro Exchange Rate

Posted: Sat Jan 17, 2015 12:12 am
by filippos
Kilkis wrote:My bet is that the Euro will weaken further, especially if the ECB really starts QE big time, so I agree I don't want to be holding Euro but it still wouldn't stop me being happy if I had some Swiss Francs, which I don't unfortunately.
Agree that the Euro is likely to fall quite a lot further, and for the reason you state. I would be quite happy holding more CHF than I do.

Re: Euro Exchange Rate

Posted: Sat Jan 17, 2015 10:05 am
by Kilkis
Perhaps you should change your tag to "Croesus", Phaedra, or even "Creosote"? With a son at university, though, I'm not sure having debt increase in value is such a good thing?

Warwick