JamesFrance Posted January 8, 2012 Share Posted January 8, 2012 colin - 2012-01-07 10:22 PM Whoopy-do, the pound is up a little against a currancy which most of the world believes is about to become history, look at the pound (or euro) rates against the other main currancies and you will see we are going down with it, if we where doing much better than euro we should be around 1.5 to pound, what this means for UK I don't know, but rest of the world is not impressed with our econony. Maybe because the Bank of England is printing money and so encouraging inflation. They keep saying inflation will be low next year and each year they have been proved wrong. All they are doing is trying to protect exports by trashing the value of the pound and subsidise borrowers at the expense of those who have saved for a rainy day. They hope the borrowers/spenders will keep the Brown designed economy going by keeping on buying things they cannot afford with money they have not earned. Link to comment Share on other sites More sharing options...
rupert123 Posted January 8, 2012 Share Posted January 8, 2012 Peter James - 2012-01-08 9:38 AM Very Good post as usual Brian Kirby. We keep hearing about how bad the Euro is, but its still done better than the pound since it was introduced. It shows how used we are to bad economic news when we take the current situation as good. It would be good to get back where we started, when the Euro was first introduced 4 Jan 1999, and the rate was 1.406 Euros to the pound. Then stay there. How can we expect manufacturers to set up in Britain and invest in new training/equipment/premises to produce goods for export when they have no way of knowing how much they will be able to sell their goods for? last year more money flowed into the UK than ever before. More manufacturers come to the UK than any other country in Europe. Honda and Nissan have just both announched increases in production, last year Nissan produced more cars in the UK than any car maker has ever done. All in all not bad for a country no would want to invest in because of exchange rates. Really who cares just as long we get 1.40 to the euro again, the way it is going not long to wait, roll on the summer. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted January 8, 2012 Share Posted January 8, 2012 This is the best that we can find we use Victoria branch. current rate: 1.20 http://www.bestforeignexchange.com/Exchange-rates-check-exchange-rates.php Link to comment Share on other sites More sharing options...
Basil Posted January 8, 2012 Share Posted January 8, 2012 The problem with the exchange companies shown is that they may show a slightly better exchange rate but when you then add on delivery charges e.g. Travelmony costs £7.50 per each £2500, and or charges for using plastic they are then far worse than Tesco for example who give you FREE delivery to your door and no charge for using their plastic i.e. the price you see is the price you pay. That even beats going and getting them yourself if you take into account fuel, parking and or public transport charges. So look deeper than just the advertised exchange rate is my advice to anyone. Bas Link to comment Share on other sites More sharing options...
Brian Kirby Posted January 9, 2012 Share Posted January 9, 2012 rupert123 - 2012-01-07 6:37 PM Brian what possible long term damage can the euro going do to us, the truth is neither you or me can possibly know. I have no wish to see it go, just do not care. What i would like to see is a partial failure and the EU messed around in general, us get out and and have the sort of tradeing agreement other countries have. What is pretty certain is that our trade with europe, as a percentage, will get less over future years and we will trade mainly in dollars and other currencies so will always be subject to currenct fluctuations. It will all effect me little, never has, so i will be selfish and euro 1.40 will do me fine. It was not so long ago the euro lovers like you were saying what a disaster it would be if we stayed out and even now you fail to see it, are you a liberal supporter by any chance? Not quite what I meant Henry. Apologies if unclear. What I meant was that, according to what seems to me the majority of economists, if the Euro collapses, the fact of its collapse has the capacity to do us (both directly, but more importantly indirectly, through the knock on to the rest of the developed world's economies) a very great deal of harm in the short term, and that those effects will extend far into the future. It was in that context I was surmising you would come to care, not in the context of whether you, I, or anyone likes or dislikes the Euro, or for that matter the EU. It seems you generally dislike the whole EU project, so will inevitably not be in favour of the Euro. I am strongly in favour of the EU, not because I think it perfect or because I think everything it does is right, but because I think it is better for us (the collective us, all of us within the UK, whoever we are, whatever we do) than the alternative. I think the Euro (in concept, not in its present form) is an essential adjunct to the EU. That is my view, it has nothing to do with party politics, and I have held it since before De Gaulle famously said "non"! I first went to France on a school exchange in about 1957, and have been going backwards and forwards ever since, but have also visited many of the other EU states over the intervening years. What I have seen, in terms of the advancement and development of its member states, persuades me it is overall a good thing, and that we can, and should, learn from the ways others do things. Obviously not everyone agrees! Link to comment Share on other sites More sharing options...
Guest 1footinthegrave Posted January 9, 2012 Share Posted January 9, 2012 "What I have seen, in terms of the advancement and development of its member states, persuades me it is overall a good thing, and that we can, and should, learn from the ways others do things. Obviously not everyone agrees" No least of all the Greeks, the Irish, the Portuguese, or the Spanish. A failed experiment at the ordinary tax payers expense. And the real people suffering now as a result, sorry Brian you are in cloud cuckoo land, no offence :'( Link to comment Share on other sites More sharing options...
Brian Kirby Posted January 9, 2012 Share Posted January 9, 2012 1footinthegrave - 2012-01-09 4:53 PM "What I have seen, in terms of the advancement and development of its member states, persuades me it is overall a good thing, and that we can, and should, learn from the ways others do things. Obviously not everyone agrees" No least of all the Greeks, the Irish, the Portuguese, or the Spanish. A failed experiment at the ordinary tax payers expense. And the real people suffering now as a result, sorry Brian you are in cloud cuckoo land, no offence :'( Don't want to hi-jack this string, but just two things. First my comment, that you quote so gleefully above :-), relates to the EU, whereas your rejoinder is about the Euro. Second, what has happened to the Greeks, Irish, Portuguese and Spanish, has nothing to do with either the EU or the Euro, but everything to do with things their own governments did, or failed to do, in terms of their own borrowing, and their failures to intervene to control excessive private borrowing. None of those countries are "core" EU, or Euro, members, and all (including Italy), by degrees, "cheated" to get into the Euro, so it is hardly surprising that they are the ones now in trouble. Pigeons, and roost, come to mind! However, be that as it may, dear, perfect, Blighty, with its well run model economy (about which our politicians could never stop lecturing other EU members) does seem to me to share more of the characteristics of the PIIGS, than of the core EU/Euro members. Still, I suppose that could be taken as proof of how much better off we could be, were we to leave. After all, we shouldn't then have such close proximity to the PIIGS that we would inadvertently copy their economic model (or them ours?), instead of the wiser ones that we have so often despised. Damn! I quite missed that point. :-D Link to comment Share on other sites More sharing options...
Patricia Posted January 9, 2012 Share Posted January 9, 2012 Back to the thread - I usually use HiFX to transfer money to France and their email this morning showed the exchange rate as £1 = €1.21 so I went online for a quote. For £700 the exchange rate gave me 1.17-ish with a charge of £9 (they used to be proud to say no charges!) which reduced the rate to 1.15. Will not use them again. Better to buy some over the counter and to take the cash with me. Link to comment Share on other sites More sharing options...
laimeduck Posted January 9, 2012 Share Posted January 9, 2012 Patricia - 2012-01-09 5:44 PM Back to the thread - I usually use HiFX to transfer money to France and their email this morning showed the exchange rate as £1 = €1.21 so I went online for a quote. For £700 the exchange rate gave me 1.17-ish with a charge of £9 (they used to be proud to say no charges!) which reduced the rate to 1.15. Will not use them again. Better to buy some over the counter and to take the cash with me. As at time of posting, Tesco online 1.182 - no charge if over £500, £3.95 if under £500, free delivery. And you can use a Tesco credit card to buy it with no cash withdrawl charges. compare all rates on http://travelmoney.moneysavingexpert.com/ Link to comment Share on other sites More sharing options...
Frankkia Posted January 9, 2012 Share Posted January 9, 2012 Hopefully, we will be heading south soon and will continue to use Nationwide card for cash. As the € continues the slow decline - (some forecasters are considering 1.30 by the end of January) we may as well get money when we need it and even taking the example above and the current rates we would still be in pocket. Tesco - 500 @ 1.182 = £423.01 Nationwide - 500 @ 1.211 = £412.80 + 2% = £8.25 + £1 = £422.05. And as the holiday progresses the exchange rate should get better so rather than take a lot of cash in the 'van it would seem more prudent to get it as required. We will be paying for and collecting our new 'van on the way back from Spain in late April - guess which direction I hope the € goes. - I know I am just being selfish - But still got a long way to go before I will be as bad as a banker. Link to comment Share on other sites More sharing options...
Patricia Posted January 10, 2012 Share Posted January 10, 2012 laimeduck - 2012-01-09 7:18 PM As at time of posting, Tesco online 1.182 - no charge if over £500, £3.95 if under £500, free delivery. And you can use a Tesco credit card to buy it with no cash withdrawl charges. compare all rates on http://travelmoney.moneysavingexpert.com/ Thank you for the link. As Tesco is a long way from me I decided to use the PO (order on line for the best rate but collect locally) but the website is not operating properly so will try again in the mornig. Link to comment Share on other sites More sharing options...
lennyhb Posted January 10, 2012 Share Posted January 10, 2012 Frankkia - 2012-01-09 10:23 PM Tesco - 500 @ 1.182 = £423.01 Nationwide - 500 @ 1.211 = £412.80 + 2% = £8.25 + £1 = £422.05. And as the holiday progresses the exchange rate should get better so rather than take a lot of cash in the 'van it would seem more prudent to get it as required. Since Nationwide brought in their charges we use little cash paying for everything we can with a Nationwide Debit Card, that way you get the good exchange rate with no charges. Three weeks in France lasts September we only spent around 150€ in cash. Link to comment Share on other sites More sharing options...
lennyhb Posted January 10, 2012 Share Posted January 10, 2012 Correction:- Meant to say Nation wide Credit Card they apply charges to the Debit Card. Link to comment Share on other sites More sharing options...
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