Hi there, i will be going to Portugal for seven days in June, then again for about ten days in late August. I'm not particularly good at understanding exchange rates, so i was wondering if anyone knew when would be my best time to change my pounds into euros? Will the exchange get better (in our favour) by June, or get worse?
Sorry for being dumb, i just find it hard to understand!
If anyone knew for certain, that person would get very rich very soon
GBP and EUR are almost on par at the moment; I'd say it can't get any worse, so best hang on to your sterlings for a bit.
On top of that: why would you change?
You can get euros at ATM's right at the airport, and that's a better rate than changing money, as you always loose some money.
Get your money at an ATM in Portugal as this always seems to be the best way of changing any currency.
As far as I know the British government are injecting more cash into the banks in the hope that they (the banks) will start lending again to get the economy moving again.
My understanding of this (please correct me if I'm wrong) is that if it fails and doesn't kick start the economy then we could see the GBP decrease further in the coming months.
I would buy half the Euros now just to cover yourself.
I was listening to BBC Radio 4 during the week and the outlook for Sterling doesn´t sound good in the long term. But as it has already been said, if anyone knew the answer to the currency futures, they´d be zillionaires by now.
Personally, and I don´t know a lot about these things, I´m of the opinion that the life of Sterling is coming to a close and that GB will adopt the Euro sooner rather than later.... but then again, what do I know!