Originally posted by techno
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If you've got the means to gain interest on it before you spend it then probably yes. If not, no."See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested." -
Moscow,
'Quote:
Originally Posted by techno
So should I now get some Euros for the summer holidays in Europe or wait.....?
If you've got the means to gain interest on it before you spend it then probably yes. If not, no. ',
you therefore believe that todays exchange rate of:
1Euro = 77.5GBP
will not change, or if it does the GBP will strengthen ?
That is what you are saying is it now ?
Milan.Comment
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No not my point at all. You need to work out how much interest you'll get before you need to spend the money (either in GBP or EUR). If you're converting to EUR as a holidaymaker, I'd suggest you'll be making zero interest on your EUR in that time.Originally posted by milanbenes View Post
You need to work out what your GBP will be worth in 6 months (or whenever) if you leave it in your account and what the interest rate will be when you exchange it.
MY OPINION is that the amount of interest made in that time will be more than the gains you would make by converting now.
As I said, I haven't done the sums (nor could I without much more data)."See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."Comment
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All you really need though is GBP/EUR spot fx rate, forward fx rate, GBP interest rate, EUR fx rate. Of course those 4 should be linked...Originally posted by Moscow Mule View PostComment
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You also need to know how much you're intending to spend on holiday.Originally posted by BrilloPad View Post
For a fortnight in Monte Carlo, it might be significant. For a week on the Costas, probably not."See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."Comment
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