Exchange Rate Pound v Euro.

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Exchange Rate Pound v Euro.

Post by Chris » Sat Dec 13, 2008 12:59 pm



I have been reading other forums, and reading the news regarding the issue of the Pound v Euro, and the exchange rate dropping. Yesterday the Post Office was offering €1.08 to the GBP, compared to back in the summer when it was up around the €1.20 mark. I find it amusing how the British appear to blame everyone else, when in fact it is the way our economy has been run, and the amount of debt we are in which is causing the problem, ie, the very week pound against the Euro and the Dollor. The two most powerful currencies.

Some of you may have listened to the Radio Four programme yesterday where a number of Ex-Pats, in particular from Spain were seeking help from the British Government because of the drop in their money. This would be their State Pensions, Work related Pensions etc which is paid into banks in the UK, and then drawn via transfer to a Bank in their residing country or via ATMs. Of course now they are not getting the same rate as earlier in the year, or indeed as some put it when they first moved abroad. Personally, and I intend moving abroad, I think even though you may draw your pensions from the UK system, once you have decided to move, it is not upto the British Government to sustain you, regardless of the fact it is successive governments who have caused this. What are your views on this.

Friends of ours who live in France, and we visit when we go over to the cottage have said as recent as a day or two ago that, yes, they notice that they do not get the same number of Euros as they did a month ago, six months ago, but retail in France is that much cheaper, it is not really causing problems. We know that Food, such as meats, veg, fruits, and all groceries are far cheaper than the UK. Diesel fuel is at 82p a litre, where it is still around the £1 in the UK.

Lets be honest, looking at the state of country. Businesses closing down (who would have thought a year ago that Woolworths would close). Now we have building societies on the verge of asking for money back from mortgage lenders because there house value is worth more than the 90% mortgage.

Personally, I think that this government, or whatever government was in power can do nothing about it regardless of all their talks, manifestos and such. The damage has been done over the past 12 years, and it would take a miracle to come out of it.

Regarding the Euro. Some say it could end up in parity, ie, £1 = €1 or even worse. My bank has been around the €1.08 per GBP for the past couple of days. Again this is only my personally opinion. I forsee it not dropping much further, as the bigger boys of Europe will step in, and may hold it for some time. As we creep through the year, a slow increase in the exchange rate will be seen, but no where near what we have been use to. Britain is dying, and will not accept help.

Your views please, in particular those on Corfu who rely on such things as pensions from the UK etc.

Yeiamas, Chris



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Re: Exchange Rates - Pound v Euro

Post by Al » Sat Dec 13, 2008 1:54 pm

Hi

My personal opinion is that this is all planned by good ol Mr Brown Just to get us signed to
the Euro as soon as possible !
Crash the economy and what ends up looking good........yup the Euro :wink:
He knows what he is doing, the euro was his dream before stepping into Blair's shoes.

Oh well rant over.......back to normal issues ...

Did I tell you I have Man Flu :oops: lol

Regards

Al 8)

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Re: Exchange Rates - Pound v Euro

Post by Etsiketsi » Sat Dec 13, 2008 5:46 pm

Bruce

Very well put and it certainly describes our character well.

Rog

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Re: Exchange Rates - Pound v Euro

Post by Chris » Sun Dec 14, 2008 1:01 pm




I hope you are right Bruce, I really do, but looking at everything that is going on. Business closures, House Prices, Banks, etc etc, I tend to feel somewhat optimistic as to whether we will ever be the same again. Like you say it does not matter what government is in power, they are alike. Think back to the 70s again. Maggie Thatcher in power (Cons), who got rid of most of the Council Stock of Housing. Gave everyone a huge payrise, (the armed forces got 32% to get those who had left back in). The start of problems through a Conservative Regime, followed by the last 12 years of privatisations, borrowing, failures, business failures, banks not lending or borrowing, estate agents trying to claw money back.

It does make one wonder who is British in all this. The people are, but I wonder about those who govern. We live in a country where Police can get charged for doing their job, but nothing is much done when a Police Officer is killed or maimed. We live in a country where 200 kids per month get beaten or harmed, with nothing being done. We live in a country where a government pays compensation to prisoners because they were forced to give up drugs with substitutes. We live in a country where groups can go around armed with guns and knives and slaughter who ever they want. Yet we send so much money abroad, we are always asked to donate to much abroad, we concern ourselves with more abroad.

Back to the topic. It is Britain who is at fault for the balance between the GBP and the Euro. It was obvious that when the EU was formed, and then the Euro was brought in, that it would become a major currency, along with the Dollar. Because the British economy is worthless, the pound has become worthless. Looking on the funny side of things, a very good friend of mine on another forum who lives in Holland says think of it like this. One can travel without bothering about the exchange rate, commission, how much you are going to get, no fees at ATMs, just grab your money and go. Nice thought in a way.

Yeiamas, Chris



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Re: Exchange Rates - Pound v Euro

Post by Chris » Wed Dec 17, 2008 10:19 pm



Keep up to date with Exchange Rate.

EXCHANGE RATES

This updates itself every couple of minutes.


Yeiamas, Chris



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Re: Exchange Rates - Pound v Euro

Post by Al » Fri Jan 02, 2009 12:48 am

Hi All

Just had a look at the exchange rate for the Euro V Pound and it works out:-

""1.00 GBP = 1.05221 EUR "" :(

that was checked on the Universal Currency Converter

I hope the pound gets a good bit stronger as we go towards summer :)

All the Best

Al 8)

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Re: Exchange Rates - Pound v Euro

Post by Chris » Fri Jan 02, 2009 9:36 am



Keep a check on the Exchange Rates from the BBC Stock Exchange figures via the link:

BBC EXCHANGE RATES


Yeiamas, Chris


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Re: Exchange Rates - Pound v Euro

Post by Chris » Tue Jan 06, 2009 12:43 pm




In accordance with the link above, the exchange rate is now at €1.0971 to the GBP. I hope this is the trend as we head towards the 2009 season.

Yeiamas, Chris




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Re: Exchange Rates - Pound v Euro

Post by Chris » Tue Jan 06, 2009 4:45 pm



I for one agree with you Simon. 10 years ago or more, Britian wanted to stay on its own, and as usual thought the Pound would survive, although it was obvious in time to come that the Euro would be the money to work on as was dollars.I have said all along it is not the Euro that has gone down against the pound, it is the defunct pound that is the worthless currency, and as all Euro business is transacted in the Euro, it obvious it is going to cost us more whilst we still hold the pound. I have found still found very good prices in Greece, Spain and France, in particular the latter. Probably to us, it looks more expensive, because we are not getting the same Euros to the Pound, exactly what happened when the dolloar went down, and even I can remember getting five or more dollars to the pound at one time.

Anyway, lets hope this rise continues, and further increases before the season starts again.

Yeiamas, Chris



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Re: Exchange Rates - Pound v Euro

Post by Etsiketsi » Tue Jan 06, 2009 4:55 pm

Simon, Chris.

Again it's a case of "Big Business" calling the shots. Who is it that advises the Government on our Economics Policies. It's Big bBusiness and the Banks would lose so much income if we went over to the Euro that they'd be in bigger trouble than they already are. It is the fees we pay when we change Pounds to Euros that provides them with some of their income. Every time we write a cheque or pay by Debit Card for anything we buy the Banks charge us for the conversion process. So, as long as the Banks are consulted we will never join the Euro, in my humble opinion.

Rog

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Re: Exchange Rates - Pound v Euro

Post by Chris » Tue Jan 06, 2009 5:01 pm



Up to €1.1003 now. Maybe you are right in your opinion, but how long can they go along on their own Roger. I know it is hyperthetical, but what if we stopped using our Debit Cards (I do not use mine abroad), what if we just used cash. What if Banks did the same as Nationwide and make no charges for the use of ATMs etc. Big business may have the upper hand, but at the same time it is big businesses who are failing, and banks are the happiest of businesses at the moment are they.

Yeiamas, Chris




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Re: Exchange Rates - Pound v Euro

Post by Etsiketsi » Tue Jan 06, 2009 5:17 pm

The thing is Chris every business transaction between a UK Company in Europe is subject to the same charges. When Thompson pay how ever many thousand of £'s they pay for accomodation it is subject to something like a 0.05% surcharge for the privilidge.

Rog

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Re: Exchange Rates - Pound v Euro

Post by Chris » Thu Jan 08, 2009 12:28 pm




And on the next day the Exchange Rate rose again, now stands at €1.1219. Thats around 7c to the GBP increase in one week. It does not sound much, but this figure looks better than €0.99 a few weeks ago.

Yeiamas, Chris




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Re: Exchange Rates - Pound v Euro

Post by Chris » Fri Jan 09, 2009 12:18 pm



The Euro is still up against the GBP from close of play yesterday, although the figure at midday is lower than yesterdays. According to the Index, it now stands at €1.1184


Yeiamas, Chris


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Re: Exchange Rates - Pound v Euro

Post by Chris » Sat Jan 10, 2009 12:39 pm




The Euro today is now standing at €1.1280 to the pound, again up on yesterday. The pound stays where it is, it will always be a pound, and the Euro and Dollor will rise in value against the pound thus giving more. I agree the American travesty of lending money to those who could not pay back is one of the main reasons in this fiasco, but it also has to be said that had we taken up the Euro ten years ago, we would not be in the mess we are in. Yes most countries through out the world are in a similar but much smaller mess. I have not long returned from France, and although one realises you do not get the same amount of Euros to the Pound as we did in the summer, the cost of living is much much lower than in the UK. The same goes for Spain, and many other European Countries. Why, because they do not rely on the Dollar also. For instance, fuel in France, Diesel is now at 84p, still along way below our Diesel. Wine at €1.99 a bottle, £1.77p, yet the wine I have just brought this morning, was £3.99 a bottle, and it is the same french wine as I brought in France.

I for one do not blame Gordon Brown, how can one blame a no gooder for the problems over the last 12 years or so. No government could have done better, although they say they can or would have done. The problem is the banks. The banks who were trying to do the same as the Americans were or did. Lend out money, with no surety it was coming back. Interest rates are the lowest for 350 years, but will anyone benefit, not many, but a many like the savers will lose out. Same as the businesses have done. What did the government do, cut 2.5% off VAT. Fantastic, that really helped everyone didnt it. A coat that cost £100 one day, cost £97.50 the next day. If you cannot afford one, you cannot afford the other.

Those who were in the know saw this coming, whether it was government or not, and did nothing about it. Ironic that the same people cannot do nothing for us, but can give £7.5m to help the problems in Gaza.

Yeiamas, Chris


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Re: Exchange Rates - Pound v Euro

Post by Chris » Sat Jan 10, 2009 8:28 pm




Hi Bruce. Down this neck of the woods it refers to a "No gooder", someone who is not bothered, or who does not care. If the word I used causes offence, my apologies, I have removed the same, and replaced with its meaning. :wink:

Yeiamas, Chris



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Re: Exchange Rates - Pound v Euro

Post by mitera » Tue Jan 13, 2009 10:48 pm

Can you lend me a tenner .... :razz: :razz: :razz: :razz: :razz:

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Re: Exchange Rates - Pound v Euro

Post by Chris » Wed Jan 14, 2009 11:15 am




According to my link above, for the last 3 days the GBP to Euro rate has been dropping again. Today the exchange rate stands at €1.0994. At the end of last week it had risen to over €1.12.

I am also somewhat miffed at the strategy of this financial problem we have in this country. Firstly I agree it is not only in the UK, but I have travelled a far bit this year, and have noticed that other countries, in particular in the Euro Zone are not suffering as much as we are. Some blame the businesses, personally I blame the banks. They are the groups that control the money, use the money, ensure that the money is fairly distributed. They have been backing up businesses which have gone down the plughole, but at the same time taking it away from the likes of Joe Public, ourselves in the form of interest rates, savings and much more including the exchange rate. Interest Rats, the Bank of England cuts the rate, now at 1.5%, but how many of us see that related to our mortgages. How many of us who have savings that we were advised to save for our future, now have a future with less money. The exchange rate does not affect the Euro, it affects the like of the Pound, because we stupidly stood back 10 years ago, and said we can manage. It was obvious then as it is now, that this would not be the case.

The Government along with the Banks, the very two commodities who can control this country have let us down. You cannot blame the businesses if in general they are the ones who losing out more than anyone. Each day, more and more businesses are going under, or cutting back. This is because of the Banks, and the powers to be. It is alrigh lowering the interests rates to help, but it is help that is too late, far too late for many.

Yeiamas, Chris




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Re: Exchange Rates - Pound v Euro

Post by Chris » Wed Jan 14, 2009 4:33 pm



Should be interesting to see what happens tomorrow, but with what is going on today in business, the exchanging of money, and government spending, I cannot forsee too much change.

The BBC News Market Index show the exchange rate at 4.30pm standing at €1.1077.

BBC NEWS MARKET INDEX


Yeiamas, Chris



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Exchange rate £ to €

Post by Etsiketsi » Tue Apr 21, 2009 2:33 pm

Latest exchange rates are, see here http://www.pounds2euro.com/ : -

£1 = € 1.1272,

€1 = £ 0.8872.

Rog

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