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When to buy Euros?

(6 Posts)
DrCoconut Sun 19-Feb-17 23:59:55

For April holiday. There is so much uncertainty about the pound at the moment. 1.15 ish seems rubbish compared to how it was but it could get worse?

lovelyupnorth Mon 20-Feb-17 06:02:44

Or it could get better, which I doubt.

Better to look at where to get and how. I used a creation credit card last time good day rate and no fees. Was 10 cents better than If I changed money at the post office and 15 better than the airport.

Notreallyhappy Mon 20-Feb-17 07:00:08

Unless your getting 1000s 1c here or there isn't going to make much difference. You've got x £££ to spend or not.
The euro now is about where it usually is. In 2012 it went down to 1.08 at one point and that was the bank spot rate.(have bank statement)
Can you get a use abroad no charge credit card..Halifax clarity or the like you get the BoE spot rate then which gives you a few pennies more.

BarbaraofSeville Mon 20-Feb-17 09:04:23

Best way is to get a credit card or currency card that charges little or no fees and spend and/or withdraw abroad as you need it. Look on moneysavingexpert for full up to date advice.

You'll get much better rates than any bureau de change (with the possible exception of some in central London that I believe sell dollars and euros at very good rates because they take in so much of these currencies from foreign tourists, but I don't know if this is true or not). You also don't have to worry about taking out large amounts of cash in one go and then looking after it, with the possible expense of a hotel safe.

Has served us perfectly for at least the last 10-15 years all over Europe including some quite out of the way places. I've given up being surprised at the number of cash machines in Spain, even in smallish towns/villages up in the mountains. Just make sure you have a back up card kept separtely in case one is lost or stolen and always withdraw in local currency as they take their own commision if you select pounds.

specialsubject Mon 20-Feb-17 09:38:30

It was almost one to one in the late 2000s, but that was before the referendum and so didn't happen...

BarbaraofSeville Mon 20-Feb-17 09:45:23

Other thing you could do is buy half now and half near your holiday, or spend/withdraw on your card while there, so hedging your bets.

Variation over the last few months hasn't been that huge really. It dropped to around 1.2 just after the referendum and has hovered between 1.1 and 1.2 ever since, so it's possible that there won't be any dramatic shifts in the short term and it's only going to be a few quid either way.

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