Why is GBP tanking again the Euro all of a sudden?

[Zero Liability]

Well the BOE has been issuing quite doveish statements as of late which may be part of why this is so. Equally maybe there's little faith in how effective Eurozone QE will be, plus the whole Greek situation seems to be priced in now.

[d000hg]

They keep the money in a shed.

[TykeMerc]

Well yes, they're just numbers in a ledger. But by doing it away from the banks all pretence of a conversion is shed.

Is there an international exchange rate for sheds then? Do you get a swiss alpine shelter for a typical Brit garden wooden jobby with wonky hinges?

[d000hg]

To be fair that's pretty much the original model of how international banking was always done. Pool of resources at each end and then it's reconciled by transfer of easily portable assets, far from new

Well yes, they're just numbers in a ledger. But by doing it away from the banks all pretence of a conversion is shed.

[TykeMerc]

It's a clever system - they don't actually convert the money but rely on having pools of money in each currency sitting about. One of those "how did nobody think of that?" ideas.

To be fair that's pretty much the original model of how international banking was always done. Pool of resources at each end and then it's reconciled by transfer of easily portable assets, far from new

[d000hg]

It's a clever system - they don't actually convert the money but rely on having pools of money in each currency sitting about. One of those "how did nobody think of that?" ideas.

[scooterscot]

I used Transferwise.com last time I wanted to send money... is that the one you mean?

That's the one. Thanks.

Need to have read. Last year sent tens of thousands back to the UK through the bank, stupid I know...

[d000hg]

I'll sell you some euro. Give you a good price. Seriously actually, there's a peer to peer currency exchange service I read about recently, don't remember the name of it though..

I used Transferwise.com last time I wanted to send money... is that the one you mean?

[scooterscot]

Yep off to spain week sat

Is it the beach or the wonderful gardens of Granada?

[psychocandy]

Yep off to spain week sat

[scooterscot]

Because I'm off skiing in a couple of weeks and I haven't got currency yet. Don't worry, it'll bounce back circa 4th April. You could even make some dirty spekulating cash in the interim if you were that way inclined.

I'll sell you some euro. Give you a good price. Seriously actually, there's a peer to peer currency exchange service I read about recently, don't remember the name of it though..

[barrydidit]

Only last week the media had stories about cheap holiday to be had in euroland. Looks like the offer was short lived.

Not a couple of weeks ago you could have had €1.42 to the £, now its €1.35

Because I'm off skiing in a couple of weeks and I haven't got currency yet. Don't worry, it'll bounce back circa 4th April. You could even make some dirty spekulating cash in the interim if you were that way inclined.

[scooterscot]

Only last week the media had stories about cheap holiday to be had in euroland. Looks like the offer was short lived.

Not a couple of weeks ago you could have had €1.42 to the £, now its €1.35