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buying euros - hold fire?

 Poster: A snowHead
Poster: A snowHead
Just noticed that the euro is back towards the 1.17mark. Is it worth holding out for another week or are they peaking at the moment Smile

Thanks,
David
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
Looking at the general news it seems possible that if you can hold out for a couple of months you will need a wheelbarrow

Sorry. Flippant remark and will probably unleash the usual deluge of knowledgeable people telling me the UK economy is a basket case etc.

Isn't the real answer that, if we knew what the Euro was going to do, we would all be living on our own private island? (Or our own ski lodge in Aspen)

Cheers Tim
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
1.17? Seems to be at 1.20 at the moment, I dealt on Friday at 1.20 net of charges for my Chalet purchase, when I put in the order my broker thought I was nuts(about 3 weeks ago) as I stipulated a 1.20 buy order!

http://uk.moneycentral.msn.com/investor/quotes/quotes.aspx?Symbol=/EURGBP
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If you hold out for an extra 1¢ to the £1, you'd still need to change about £300 to get enough extra € to buy 1 extra beer.
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Anyway, snowHeads is much more fun if you do.
I got a few last minute euros to top up at the Post Office yesterday. The rate? 1.11 - ouch. No commission, but still...
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BenW, that seems quite poor Puzzled
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Chasseur wrote:
BenW, that seems quite poor Puzzled


Yep, hence the post, I saw 1.11 on Friday and today when i looked on the Post Office website, its flagging 1.17 suggesting a reasonable lift. I haven't seen 1.20 anywhere but will hold out if its coming in days not months Smile

Cheers
David
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It's 1.11 if you go into the post office. But if you order online to have it delivered to the same branch as I did yesterday you get 1.17!!!!!
All a bit silly as the branch would have had to order the currency in anyway Puzzled
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Timg60, Nice tip, thanks mate!!

It's for orders between £400 and £2500, which suited me fine and I just bought for my long trip next week. I got 1.1713 which is very nice for a tourist transaction.
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skinutter, I have bought today as I think it's peaked for a short while. The Portuguese bond sale went through at rates lower than expected thanks to big support from the ECB. The only thing likely to dramatically change the £/€ would be a Bank of England rate rise but I feel the market is pricing this out, certainly for this month.

After tomorrow's rate announcement the pound will start a slow fall back to 1.185.
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And love to help out and answer questions and of course, read each other's snow reports.
I forgot, if you are near London, Holidayloverxx recommended Thomas Exchange Group couple of days ago. They are selling at 1.185 today.

I won't be near there until next week, unfortunately.
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i got 1.17 yesterday.
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 You know it makes sense.
You know it makes sense.
good tips, thanks everyone
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 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
I've just called in TESCO to get some euros as I'd seen their online exchange rate was 1.175. When I got to the store (as I had cash that wasn't in my bank) The exchange rate was 1.16. I expected it might be slightly less but when I asked why it was, expecting an answer somewhere along the lines of I'm paying for the guy to sit on his backside all day, I was told it was because each TESCO store offers a local rate???? and the rate online was an average national rate. So basically they see how much other places are charging in the area and adjust theirs accordingly. Surely this isn't what TESCO are about? So basically I was paying a tenner more for my euros because of where I live. Someone else in the country could be getting theirs for 1.18 or so. You wouldn't pay ten pence more for your beans because of where you live!!!! Annoyed me so much I walked out and swore never to visit TESCO again!!!!!
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 Poster: A snowHead
Poster: A snowHead
garethjomo wrote:
You wouldn't pay ten pence more for your beans because of where you live!!!!


Oh yes you do. Tesco do vary price of certain items depending on geographical location and type of store.
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Obviously A snowHead isn't a real person
Just ordered on-line via the Post Office site 1.1713 delivered to local post office, or if over £ 500 ordered delivered free to home
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
Sideshow_Bob, they are localised products usually. Not a tin of beans! And not I wouldn't have thought Euros! Unless was an express store.
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When I worked in London I always got my currency from Thomas Exchange Global - in Victoria St, Westminster and The Strand. Currently offering 1.188. Good for all other currencies too, and they always have loads in stock
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garethjomo, Check it out, the price of beans will vary within similarly sized Tesco stores dependent on geographical location.
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Ok I will. Starting tomorrow I am going to drive to 18 different TESCO stores around the country! If they are the same I will demand my Euros at a rate of 1.175 wink
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I'm due in to get mine tomorrow - lets hope for a sudden push towards a decent exchange rate at about 9am tomorrow Laughing
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
I was tripped up by the difference by online and counter rates from Post Office. Fully expected to get the 1.17 shown on the website but was offered 1.14, apparently for the convenience of being able to go in and pick up. Considred traipsing around to find better but realised would probably only save 15 euros on £500 so didn't bother.
Conversly got 1.1985 yesterday for a 15000 Euro business transfer which is the best I've got for a fair few months now
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philipb, That's what I was expecting TESCO to say. The convenience of poppong in. But apparently not!
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When did exchanging money become buying a product?
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bar shaker, they are buying something in at a price then selling it on at a profit. Surely that's the definition of a product.
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And love to help out and answer questions and of course, read each other's snow reports.
I discovered the online/over the counter difference with Post Office travel money last month and thought that Tesco might do the same. In the end, I ordered online with Tesco as there was no cash advance fee when using my Tesco credit card. I think it's not too bad a rate and because I ordered £500 it was delivered free the next day.
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try coop travel agents. The one in my hometown, Lymington, always betters the PO by .2, and gives a higher rate for over E. 500
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 You know it makes sense.
You know it makes sense.
Got mine delivered yesteday from bestforeignexchange.com (part of Thomas Exchange Global). Rate worked out to 1.189 with the £5 delivery charge. Second time I have used this company without any problems and money was received the following day.
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 Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
Headline rate down to 1.186 at CoB.

Glad I bought yesterday.

garethjomo, They aren't.

They are exchanging money for a mark up on the rate that day. FX is easier to see as a 'product' but banking is a service industry and my current account, my life insurance and my savings are not 'products'. They are services, provided by retail banking staff, for which I pay a service fee.

Are banks regulated by the Financial Products Authority?

Is a taxi ride a product? Will my solicitors start selling 'legal products' which defend me in court?

Products are produced by farmers and factories. Products are the result of processes that change raw materials in to being a finished product.
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 Poster: A snowHead
Poster: A snowHead
I got 1.154 today at First Choice - they weren't going to offer me that much until I told them that's what I could get at the Post Office and they always maintain they won't let the local post office beat them. It can therefore be worth haggling in some places to get better rates.
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 Obviously A snowHead isn't a real person
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jimmybog, I'm glad it worked out. Personally I would be a little wary about buying money and having it sent through the post as cash ever since reading on SH's about someone that had ordered and the company went bust before the funds were sent.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
Is it just me that orders at Thomas cook online and picks up at the airport, order when you think the rate is good and if it is better when you pick up, you get the better rate. Personally I could not be arsed shopping about for what only amounts to the price of a pint on your average holiday spending money. Now if it was for a larger transaction, fair enough.
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bar shaker, I disagree. http://www.lovemoney.com/news/get-the-best-deal/shopping-around/ten-best-financial-products-1302.aspx But, anyway, what's your point?
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garethjomo,

Reading your link I was wondering were I could get an ISA paying 5.5%, then I read the headline:

The Ten Best Financial Products

Published 19 April 2007

rolling eyes rolling eyes
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I think those days are long gone!!!
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Spanish debt sale went well today which has strengthened the euro..sadly
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!
Frosty, Yes and the BoE did not raise rates. I don't think either were in doubt. Also German Q4 growth was very good.

All bad news for British tourists.
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garethjomo, That others also think running a cash ISA account for you is a product, rather than a service, does not make you or them right.

I reserve the same disdain for people who go into shops or bars and say "Can I get..."

The American dumbing down of our language is something to be resisted.
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bar shaker, I don't think either of us are right or wrong? A disdain for me because I call financial things products?? You are easily offended. Apologies!
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