Buy my Euros now or hang on ??

[supernannyisace]

I have been watching the Euro/£ rate - and it seems to be creeping up in our favour.

Today on Travelex - the rate is £1 = 1.21 Euro. That has to be the best I have seen for a couple of years.

Have a trip to Madrid in two weeks - we prob have sufficient for that- but have the big summer jaunt to France in August - which we will need lots of Euros for.

Do we buy now or see if it gets even better? Hmmm....

Anyone in the know?

I am also away in a few weeks and been watching the rate rise all week.
I am getting some today and will hold out to see if the rate goes up anymore.

Why not buy half of your summer Euros now and hold out and wait and see what you get for the rest later on.

Maybe I am being over ambitious hoping the rate continues to rise!

mmm -I thinkI will buy some - although have to pay the balance of our villa rental this week whcinh will clear out the bank account!

It would be nice to go on hol in Europe and actually spend less than we would in UK!

Fingers crossed.1

I think normally after a big loss of confidence in the market (like happened with the recent french/greece thing this week) there is a huge initial drop in value of the currency. But then it will maybe creep back up a little when the panic wears off.

This means that you'd get the best rate now and it would drop a little later.

But this is total idle speculation I'm not a stock market or currency follower!

Also traditionally the rate usually drops as we go into summer.

Yep - am deffo off to the bank this morning to see how much spare cash I can spare to buy some currency today I think.

If someone could answer the question definitively then they would be able to make alot of money.

I personally think it hasn't finished. I think we will finish with about 1.30?/£ market rate, so as tourists maybe 1.27?.

Do the sums. how much would you gain if that happened vs how much would you loose if it went back to say 1.15.

TBH on spending money of £1000 the difference is about 60? each way.

I think French Fancy has it about right. We will probably put about £500 on our Euro card this month and then top up later - I expect the rate will improve over the next couple of months, but who knows for sure!

Yes- it's all a bit of a chance.

I have just bought £600 worth - I know i will need a lot more than that in the summer, so will watch with interest.

Hi, sorry to butt in being an idiot, but could anyone explain these pre-paid eurocards?
on moneysavingexpert someone mentioned caxton cards etc. Just found a site which lists various "eurocards". Am a bit confused now. Do you load up your money on them (if I load up £500 on 1 June, do I get 1st June rate of exchange - or if I load up on 1st June and spend the £500 on 20th June, do i get 20th June's exchange rate?).
Also, are these cards better than using your own credit or debit card - why? Are the savings big enough to justify the hassle of applying for new card etc?

Have also been tracking the euro with a little app on my phone - I look at it every day as if I'm going to be saving £1000's of pounds, the euro's just had a little bounce back this morning - so that's probably about £1.50 off my spending money!!

Martin Lewis commented about this on day break this morning. He said Buy 'Some' now and if it starts creeping back up then grab some more.

We need to get some soon actually as were off in nearly 3 weeks time :)