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Sterling vs Euro?

Travel Forums General Talk Sterling vs Euro?

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1. Posted by TLWH (Travel Guru 516 posts) 7y

Hi Folks,

Usually I don't pay too much attention to global finances. Can't help it though these days!

I just noticed that Sterling and the Euro are pretty much neck and neck at the moment?

When did this happen?? Is it expected to change soon?

I only noticed as I was un/lucky enough to acquire some sterling recently only to see it wasn't worth what it used to be!

2. Posted by bex76 (Moderator 3720 posts) 7y

The Sterling has plummeted against many of the major currencies in the last few months and seems to be still going down against the Euro. As the UK economy is in such a bad way at the moment I don't see the exchange rates improving any time soon. I'm glad I did a lot of travelling in Europe over the last couple of years when the sterling - euro exchange rate was better!

[ Edit: Edited on Dec 21, 2008, at 10:03 PM by bex76 ]

3. Posted by mojorob (Moderator 1047 posts) 7y

I just read an article on the BBC news website that because of this there has been a big increase in the amount of people travelling from the Republic to Northern Ireland in order to shop. Apparently alcohol is one of the big purchases.

Not only are the currencies almost neck and neck, in addition the UK recently reduced VAT to 15% and the Republic increased to 21.5% which is also having an affect.

4. Posted by Hien (Moderator 3906 posts) 7y

BBC News also reported that with the higher-than-usual discounts going on for Christmas sale, branded clothings and items are now so much cheaper than other parts of Europe, and lots of people from continental Europe, especially France, came to shop in London high streets too.

5. Posted by Seany (Respected Member 268 posts) 7y

I think the era of the sterling strong pound has come to an end. Its only a matter of time before the euro passes the even mark to the pound . Not good news for us Brits....now I have to save more for the next trip!

6. Posted by tway (Travel Guru 7273 posts) 7y

Neal was reading about that yesterday, Apparently the town of Newry, on the Northern Irish side of the border, is doing its best holiday business ever. And it's known for being a two-bit town!

Hopefully the sterling will be kind to us when we go over in May. The exchange rate is a killer!

7. Posted by Hien (Moderator 3906 posts) 7y

Quoting tway

Neal was reading about that yesterday, Apparently the town of Newry, on the Northern Irish side of the border, is doing its best holiday business ever. And it's known for being a two-bit town!

Yup! And the BBC News interviewed a guy who said he drove all the way from Limerick to stock up beer supplies (there were many cartons in his car boot), and added that it was worth the 4-hour drive.

8. Posted by james (Travel Guru 4136 posts) 7y

The weak pound will make imports into Britain more expensive and British exports less expensive to foreign purchasers. This will strengthen the British economy and make the pound stronger. This will make imports into Britain less expensive and British exports more expensive to foreign purchasers. This will weaken the British economy and make the pound weaker. The weak pound will make imports into Britain more expensive and British exports less expensive to foreign purchasers. This will strengthen the British economy and make the pound stronger.

9. Posted by bex76 (Moderator 3720 posts) 7y

Quoting james

The weak pound will make imports into Britain more expensive and British exports less expensive to foreign purchasers. This will strengthen the British economy and make the pound stronger. This will make imports into Britain less expensive and British exports more expensive to foreign purchasers. This will weaken the British economy and make the pound weaker. The weak pound will make imports into Britain more expensive and British exports less expensive to foreign purchasers. This will strengthen the British economy and make the pound stronger.

LOL!

Seriously though I have thought about it in that way too as logic would suggest it would work in a cycle similar to that, but I just don't understand economics enough to know how it all works.

[ Edit: Edited on Dec 22, 2008, at 7:37 PM by bex76 ]

10. Posted by Peter (Admin 5809 posts) 7y

Quoting bex76

Seriously though I have thought about it in that way too as logic would suggest it would work in a cycle similar to that, but I just don't understand economics enough to know how it all works.

Which means you probably understand it just about as much as any of the so called experts :)