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Gbp Into Euro Now Or Not ?
15 Answers
is now a good time to put my pounds into my euro account ? i dont really need it for anything in near future, i was going to buy a home in NI but im waiting a year or so just to see what way house prises go in 2019- 2020 in NI.
hearing all kinds of horror stories about food prices , house prices, probably a load of crap , probably not , who am i to judge.
what would you do, could we see the pound equal the euro come after october ?
could oct 21st be the day the pound will drop dramatically ? so, keep an eye open .
like some info from someone who obviously knows more about currency etc than myself
hearing all kinds of horror stories about food prices , house prices, probably a load of crap , probably not , who am i to judge.
what would you do, could we see the pound equal the euro come after october ?
could oct 21st be the day the pound will drop dramatically ? so, keep an eye open .
like some info from someone who obviously knows more about currency etc than myself
Answers
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We are not currency speculators- there seems little point in trying to outguess the market. Martin Lewis always suggests rather than trying to guess which way the market is going, spread out any exchange purchases- buy some now, some in September and some in August. That's if you actually need Euros
If you want to protect your money from falling in value then you should keep any cash in the strongest currency you can find, no matter what is your most common use currency - this assumes you have cash reserves that you are most likely not going to need in the next few years. The Pound is not a strong currency, hasn't been for over 50 years although very occasionally a sudden and short lived rise in value offered gains for the speculators, mostly it has just kept relentlessly sinking.
Comparing with the Euro, the pound has lost in excess of 5% over just a few weeks so had you converted before that you would now have gained enough not to worry about the cost of exchanging out and back. If you are serious about exchanging out of your most used currency then you should do your research ("historical exchange rate" graphs - the Euro is strong but there is at least one even stronger), choose a currency and go for it, then leave it until such time as you need any back. It is now many decades since I took the decision to keep nothing more than basically daily cash in Sterling, everything else goes into the foreign currency(ies) of my choice and stays there. The decision was a no-brainer when I got burned without a hope of mitigating things as the Pound took one of its frequent dives. I have been celebrating my "wisdom" ever since, not least these days.
Comparing with the Euro, the pound has lost in excess of 5% over just a few weeks so had you converted before that you would now have gained enough not to worry about the cost of exchanging out and back. If you are serious about exchanging out of your most used currency then you should do your research ("historical exchange rate" graphs - the Euro is strong but there is at least one even stronger), choose a currency and go for it, then leave it until such time as you need any back. It is now many decades since I took the decision to keep nothing more than basically daily cash in Sterling, everything else goes into the foreign currency(ies) of my choice and stays there. The decision was a no-brainer when I got burned without a hope of mitigating things as the Pound took one of its frequent dives. I have been celebrating my "wisdom" ever since, not least these days.
( Bednobs...I got told off for suggesting something similar.)
you got told off for being rude and nosey and flaming me !!! and not even adding positive replies to my post, if not positive then do not reply is that really hard to understand ? or do you own the site ?
anyway, times change bednobs, money changes, circumstances change , when was last time i asked , maybe a year ago ?
i am first to freely admit im simple when it comes to money, i have lost some pretty big amounts of money over the years, very big amounts. once on a TT worth 100k then few months later sent it back,,,,stupid i know !
so if you have anything positive then feel free to add
you got told off for being rude and nosey and flaming me !!! and not even adding positive replies to my post, if not positive then do not reply is that really hard to understand ? or do you own the site ?
anyway, times change bednobs, money changes, circumstances change , when was last time i asked , maybe a year ago ?
i am first to freely admit im simple when it comes to money, i have lost some pretty big amounts of money over the years, very big amounts. once on a TT worth 100k then few months later sent it back,,,,stupid i know !
so if you have anything positive then feel free to add
well forgive me but you asked in June 19,March 19 dec 18, nov 18, aug 18 (at least :))
If you are so worried about it, my advice would be to either pay for professional advice, or make a decision and stick to it.
The answer is that no-one really knows (probably least of all random internet strangers)
If you are so worried about it, my advice would be to either pay for professional advice, or make a decision and stick to it.
The answer is that no-one really knows (probably least of all random internet strangers)
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