Price of the EURO

[dignity]

After visiting SBS and seeing the perfect vessel, when negotiating the price, it seems that it all depends of the price of the EURO at that particular time. Cutting a long story short if the EURO falls (hence the pound gets stronger) I get a better deal!

Anyone got inside info on exchange rates, it seems I could save quite a bit buying at the right time???

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[Roberto]

the one who knows is sunbathing at the bahamas and unavailable for comment

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[vyv_cox]

My financial adviser told me a year ago that it can only rise relative to the pound. So far he has been proved right. He thinks it will reach parity in the forseeable future. Cannot see why, as it seems to be hopelessly mismanaged, but the ever-increasing number of participants would seem to ensure its growth.

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[AlanPound]

Historically..... http://www.oanda.com/convert/fxhistory

Alan

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[gjgm]

or agree a price in euros and either take out an option or buy the euros forward for the expected purchase date-only forward rate at present is marginally worse than the current exchange rate. The high of eur/gbp since the euro came out is about .7250, so talk of parity is likely to be total XXXX. You CAN secure your price if you wish,even if your dealer says otherwise. Just bear in mind ,market fx rates are for millions, so unless its a very expensive bpoat, dont expect the same exchange rate from your bank.
Add usual advisory disclaimers,blah,blah,blah...

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[tcm]

the right time was about two years ago, when you could buy over 1.65euros for a quid. I did buy a lot of euros around that time, but not enough. So in July03 i bought some at 1.39 and erm it now 1.43 ish, dang. It will be cheaper if you don't buy a boat at all.

However, inside track;

Current city forecasts indicate a euro worth 0.70 rising to 0.71 thru 2004, and then static at .71 thru 2005 assuming no emu referendum (in which case convert into euro as soon as poss). Interest rates will rise half a percent in each year.

These forecasts carry my personal stamp of authority and a cast-iron guarantee such that you can safely bet several times your entire net worth on it.

Caution: Your house is at risk if you set fire to it.

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[jac]

Don't believe anyones forecasts on where it will go - people only make money cos one forecast says higher and another says lower!

You should be able to get a forward exchange deal from your own bank - just ask to speak to the commercial foreign team (not the foreign till lol) and tralk to them. Most foreign teams deal in them several times a day. It will take a while to get sorted out and be prepared to prove that you're worth the money

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[polarity]

Almost certainly cheaper and possibly hassle than a bank is sign up at www.xe.com for their xe trade system. Use it a lot for $ transactions.
No relation!




<hr width=100% size=1>Paul
<A target="_blank" HREF=http://www.polarity2.com>http://www.polarity2.com</A>

 

[mpprh]

Hi

"Caution! Exchange rates can go up as well as down."

In the 80's, part of my job was involved with management of international currency transactions for a multinational. The amounts were in millions, so 0.1% movements were important. Over the last 10 years I've lived in 4 countries , so I've become an even more avid currency watcher because it was my own money !
I've also personally speculated on currencies (relatively small amounts up to GBP 50,000).

The pound is extremely volatile. My personal view is that it is still a little overvalued (that's why your mortgage rate is more than mine !) but don't quote me.

A few examples -

1) Belgium
1991 GBP 1 = BEF 61 (Euro 1.50 )
1993 GBP 1 = BEF 44 (Euro 1.09 )
2000 GBP 1 = BEF 71 (Euro 1.77 )
Today GBP 1 = (Euro 1.45 )

2) Sweden
1996 GBP 1 = SEK 10
1999 GBP 1 = SEK 15
Today GBP 1 = SEK 12.9

3)USA
1983 GBP 1 = USD 1.05
1992 GBP 1 = USD 2.01
Today GBP 1 = USD 1.66


So : my advice is to be very careful, minimise losses if possible, don't believe anything you read in the financial press.

Peter
http://tlp.netfirms.com


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[Twister_Ken]

You misunderstand, surely?

>The pound is extremely volatile.<

It's not that the pound is volatile, it's that Johnny Foreigner's currencies keep bouncing around.

<hr width=100% size=1><A target="_blank" HREF=http://www.writeforweb.com/twister1>Let's Twist Again</A>

 

[rickwat]

2 Way Street

If pound goes up you get better exchange rate, if pound goes down J Foreigner's prices become less competitive so he/she's under pressure to balance sales/profits.

Just get the best price you can on the day

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[kingfisher]

PLease ask me

There is only pressure to adapt your prices, if the trade partner currency is of importance.
Given the fact that most trade in the euro-zone is inbetween member states;
and that trade with the UK is just a fraction of that;
and that there is currently an inbalance in trade between the euro-countries and the UK;
please ask me if I care what the Stirling does?

Latest Eurostat data jan-jul '03):
Export from euro-countries to UK: 95.1 bn eur
Import from UK: 68.6 bn €

<hr width=100% size=1>Group of people on the pontoon: skipper is the one with the toolbox.
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[doris]

Foreign Exchange

Go to www.sgm-fx.com, get their phone number, give them a call, quote ALD, and they will help you save half to one % on the deal.

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[doris]

No I won\'t ask you anything

Your statement is one of excruciating naivety if I may say so. INMHO of course.

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