Euro rate at moment. |
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26504 |
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1.05 for cash here in town.
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Albufeira Resident
www.algarvebus.info public transport information for the Algarve |
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Andrew
Top Contributors Joined: 27/December/2008 Location: UK or Algarve Status: Offline Points: 7259 |
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Current market rate is 1.1061 which is a five year low!
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Andrew
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Andrew
Top Contributors Joined: 27/December/2008 Location: UK or Algarve Status: Offline Points: 7259 |
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http://www.msn.com/en-gb/money/news/travellers-at-risk-of-disgraceful-exchange-rate-profiteering-at-airports/ar-BBxdzfE?ocid=spartandhp |
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Andrew
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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Andrew
Top Contributors Joined: 27/December/2008 Location: UK or Algarve Status: Offline Points: 7259 |
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FairFX (home delivery) would return you €542 at the mo. The best one above is maybe the main reason these exchanges are at airports, for people to pick up their on-line purchases which obviously attract far better (the best it seems) rates, than over the counter but that's supply and demand for you, if you're desperate, or daft enough, to need to buy currency at the last minute, at the airport, where else can you go? Nowhere, so the price goes up! That chart above though, the best rate is 25% better than the worst! How can that be justified, ridiculous.
And the same company will give you 9% more, €40, if you buy at Gatwick as opposed to Southampton!
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Andrew
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Big Col
Top Contributors Joined: 18/August/2011 Location: Newcastle Status: Offline Points: 1534 |
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Our high street Eurochange shows 1.0863 this morning and £500 would get you 543.15 Euros.
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Colin
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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An interesting perspective
Pound/Euro rates have stabilised a little, after a dire
start to October. At the time of writing GBP/EUR is just below €1.11. The Pound
has been falling due to concerns about the UK giving up access to the single
market, despite the fact the economic figures show that the UK economy remains
resilient. In the mainstream media, the falling Pound and a potential
'Hard Brexit' that would mean giving up free access to the single market have
been dominating the headlines. But if you look past the negative reporting in
the mainly left wing outlets such as the BBC, Guardian et al, maybe it won't be
the Armageddon that's being predicted. The US, China Japan and Australia all
have access to the single market without being in it. All they need to do is
meet the EU's regulatory standards. There is no reason the UK cannot do the
same. Then, when you look at how much of our trade is within the EU, you start
to realise there is a world outside of the EU's borders. For example, there were some interesting figures in an
article I read this morning that show that 18 years ago, 61% of our trade was
with the EU. Today, it's 43% and falling. Non-EU trade is rising, is in
surplus, and makes up the majority of our overseas trade. A point to remember
is that EU trade is falling and in deficit. The single market perhaps then should
not be the only focus of how the UK will trade globally in the future. One of
the founding architects of the EU monetary union himself has also warned that
the EU is a house of cards that is doomed to collapse. The EU has huge levels of unemployment, and
seems to me to be an unsustainable ponzi scheme rife with protectionism that is
doomed to fail sooner or later. When you take a balanced look at the situation therefore, there is every reason to believe that in the long term the UK economy will prove resilient and remain one of the largest and strongest economies in the world. This should in time help the Pond recover. In the here and now though, the uncertainty that is currently dominating the currency markets is keeping downward pressure on the Pound, and I see no reason for that the change in the short to medium term. In time when it becomes clearer what our relationship with the EU and the rest of the world will look like, I think Sterling will bounce back to recover the losses we have seen over the last 6 months. So in summary, I think that yes the Pound will recover against the Euro, however this will take some time, and it's likely to be well in to 2017 before any recovery starts to materialise. The doom mongering and negative reporting in the press isn't helping either, and nor is the political bickering between Labour, The Conservatives and the SNP. Things could well get worse before they get better. |
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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UK inflation up to 1%, highest for 2 years
Higher inflation means more chance of higher interest rates or at least, no chance of further reduction Hence Euro up into the 1.12's this afternoon |
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26504 |
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1.06 in town yesterday.
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Albufeira Resident
www.algarvebus.info public transport information for the Algarve |
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tonisdad
Senior Member Joined: 24/November/2010 Location: United Kingdom Status: Offline Points: 1060 |
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Might be a bit of relief for the pound with the High Court saying Parliament must vote before the UK can start the process of leaving EU meaning Government can`t start to trigger article 50.
Also the Bank of Englands`s quarterly report is due at 12pm today. |
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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Just under 1.13 now
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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enrique
Newbie Joined: 05/June/2011 Location: United Kingdom Status: Offline Points: 63 |
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they are all jumping on the bandwagon of Brexit , even though buisinesses in Uk say they are holding up ok , here in Scotland we take our Euros with us you can get 110 euros to the pound , but I do think the police should be involved with the exchange rates at Airports .99 a disgrace arrest those people
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cubsur
Moderator Group Joined: 26/January/2006 Status: Offline Points: 26504 |
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1.05 for cash in town today. Let's see if that goes up over the next day or two.
I have never changed money in an airport or hotel and never will. Anyone who does so must be mad.
Brexit (I hate that term, sounds like kids txt msg) is being blamed for anything and everything. Remember that the exchange dropped around 20% between January and early June when the pollsters and everyone else confidently expected a remain vote. |
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Albufeira Resident
www.algarvebus.info public transport information for the Algarve |
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DICEYUK
Top Contributors Joined: 05/April/2011 Location: Norfolk/Algarve Status: Offline Points: 3381 |
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Currently 1.165
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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tonisdad
Senior Member Joined: 24/November/2010 Location: United Kingdom Status: Offline Points: 1060 |
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This afternoon it was 1.10 down the old town and 1.09 down the strip. I think it is the first time ever I have seen a better rate down the old town than the strip....unless somebody hasn`t updated their board.
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