Exchange Rates... (1 Viewer)

Bacchus

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Not that I don't like my old Hymer, quite the contrary, but like a lot of peeps on here I'd wager, I keep an eye on the market and have been looking for a certain type of van/layout/config for about six months, wondering whether it might exist in a price range which would allow me to "upgrade"

Now one has actually appeared on the market but it's in Germany and the Pound had plummetted against the Euro in the last three weeks meaning it would cost an awful lot more than it would if it had appeared before Christmas!

Should I just say "ah well it's only money" or hold out for the good old GBP to recover?

I'm sure it's the dirty speculant bankers driving it down not any "real" economic woes (I think I'm sure...)
 

Judge Mental

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So much for the Tory economic miracle..They couldn't run a bath less an economy.

you don't mention budget but spending £30K now gets you 3000 less € so hardly earth shattering..just negotiate harder
 
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Bacchus

Bacchus

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So much for the Tory economic miracle..They couldn't run a bath less an economy.

you don't mention budget but spending £30K now gets you 3000 less € so hardly earth shattering..just negotiate harder

Not since I have had the right to vote have I been more dissappointed with a Government. I know they inherited a pig, but there should have been ample time to sort it out more than they have. (discussion for the lounge...)

"3000 less € so hardly earth shattering" - a little bit less even than that, but still a lot of money to tear up and throw away for no tangible reason )c:

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D

Deleted member 29692

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Come on, if you're going to try and have a pop at something at least try and be accurate.

The rate has fallen back over the last few weeks to the place where it was this time last year when we were all quite happy with 1.30.

It was never going to be consistently over 1.40. That would make the Euro even less viable as a currency than it is now and the ECB would have had to do something about it.

It's still higher than at any time since the start of last year going back to 2011 (maybe longer, I can't find the data).

The fluctuations over after the big jump last January over the course of 2015 to now are normal.

Trying to make out it's at some kind of mega low is a little bit silly really.

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We're about to buy a house here and it's gonna cost 10% more than 2 weeks ago :(

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Bacchus

Bacchus

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Trying to make out it's at some kind of mega low is a little bit silly really.

I don't think anyone was making out that it was at some kind of mega-low, just a lot lower than it was three weeks ago.

We have two large prospective purchases in Euros, and the exchange rate makes a huge difference.

Even two weeks ago analysts were discussing a possibility of 1.45 with 1.40 being the expected average for q1, and with Carney's speech yesterday that doesn't now look likely.

I suppose the frustration is that however hard one works or saves, external forces seem to find a way of changing the game.

(Probably just depressed because it's tax return time! )
 
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Bacchus

Bacchus

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We're about to buy a house here and it's gonna cost 10% more than 2 weeks ago :(

There doesn't seem to be a "what a pain in the harris" icon in the new "likes", but what a pain in the harris!

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Judge Mental

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Not since I have had the right to vote have I been more dissappointed with a Government. I know they inherited a pig, but there should have been ample time to sort it out more than they have. (discussion for the lounge...)

"3000 less € so hardly earth shattering" - a little bit less even than that, but still a lot of money to tear up and throw away for no tangible reason )c:


Its all bluff and bluster its unfortunate that the public falls for it..

Right that van! If you get a bit more for yours and pay less then advertised price for the new van.. the loss negligible surely
 
D

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I don't think anyone was making out that it was at some kind of mega-low, just a lot lower than it was three weeks ago.

We have two large prospective purchases in Euros, and the exchange rate makes a huge difference.

Even two weeks ago analysts were discussing a possibility of 1.45 with 1.40 being the expected average for q1, and with Carney's speech yesterday that doesn't now look likely.

I suppose the frustration is that however hard one works or saves, external forces seem to find a way of changing the game.

(Probably just depressed because it's tax return time! )

Yes, definitely frustrating.

I'm just glad I bought a load at 1.40+ during the autumn so we should be good for most of our travelling this year.

It's trying to turn it into a party political issue that winds me up. If anyone wants to do that then the collapse from 1.64 in 2000 to 1.12 in 2009 should be the starting point of the conversation. I don't think that can sensibly be blamed on the government of the day any more than the current minor fluctuations can be blamed on the current one.
 
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Bacchus

Bacchus

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Right that van! If you get a bit more for yours and pay less then advertised price for the new van.. the loss negligible surely

Absolutely - still a good deal I thiink, and certainly better than anything I have seen this side of the ditch (y)

It's trying to turn it into a party political issue that winds me up.

I did blame the dirty speculant bankers in my OP, and I would stick by that (c;


Most analysts still seem to think that 1.40 ish is the natural home:-

https://www.poundsterlinglive.com/euroforecast

So chin up @Yorick and try to procastinate a little... (c:

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We've been putting money in a Euro account for our purchase but it has occurred to me that the one element that it's difficult to shelter from the exchange rate is the VAT on a new purchase. I presume this will be calculated by HMRC using whatever exchange rate they choose to use at the time you have to pay it. So, for instance, on a 50k€ (ex VAT) purchase it would be the equivalent of 10k€ in sterling when they write out your VAT bill. The difference between 1.40€ and 1.20€ just on the VAT would be nearly £1,200.

You could protect it by exchanging 20% more than you need and the exchange it back to pay the VAT, OK if you can change that amount of money without much of an exchange penalty.

I don't suppose it would ever make the difference between buying and not buying but it's not insignificant.

Tony

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Judge Mental

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I notice that its always the governments fault ,and never the global issues .but that's the problem nowadays .seems whichever political party is in power its their fault..:reel:


what you describe is exactly what the Torys did to win the election, blaming Labour when it was Lehman brothers who brought the house of cards down.. and most of you feel for it...
 

laird of Dunstan

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We are unhappy with the exchange rate too, but as we negotiated a price that was the same in Euros as in pounds means that we will still gain from the exchange rate .

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It's a ploy to give the out voters the jitters. Getting it down to one pound for one euro for the vote could put the hibijibis up the want out brigade. They have ways of bringing you in line......;):)
 

Khizzie

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It's a ploy to give the out voters the jitters. Getting it down to one pound for one euro for the vote could put the hibijibis up the want out brigade. They have ways of bringing you in line......;):)

The government in 2008/9 almost managed it with the lowest exchange rate ever..

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lorger

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when we ordered our van at the end of July we decided to buy our Euros then, it wouldn't have bothered us if the Euro had went up above our saved rate as we were happy with our price, what would have bothered us is if the rate had dropped to the figure it is now would have meant us paying a few £ more.
 

Judge Mental

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when we ordered our van at the end of July we decided to buy our Euros then, it wouldn't have bothered us if the Euro had went up above our saved rate as we were happy with our price, what would have bothered us is if the rate had dropped to the figure it is now would have meant us paying a few £ more.

as another funster mentioned you will pay a bit more VAT as HMRC work it out on prevailing rate
 

maxi77

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what you describe is exactly what the Torys did to win the election, blaming Labour when it was Lehman brothers who brought the house of cards down.. and most of you feel for it...

What the US problems with sub prime loans did was make lenders and governments look at whether those including governments who had borrowed could actually service the loans never mind pay them back. Labour had both relaxed the rules for banking allowing some of our banks to lend to bad payers and over borrow themselves hence our banking crisis, and at the same time had overspent themselves requiring a cutback to avoid ending up bankrupt like several other countries we all know.

As for the current did in the exchange rate that seems to be mainly down to high expectations before Xmas turning out to be not as good resulting in interest rates now not expected to rise for another year.

It is now all the fault of the Chinese.

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Charlie

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Its all bluff and bluster its unfortunate that the public falls for it..

Right that van! If you get a bit more for yours and pay less then advertised price for the new van.. the loss negligible surely

But hard dealing surely would have been done anyway ? I mean who is going to go to a dealer and say "there you are there is my money I wont haggle cos the exchange rate is good"

Whatever the final deal ends up being the OP is I think saying he will not be in as good a position as a short while ago.

On the advice here we have stored up our euros for 2016 holidays. Bought when rates were at their best . Yet some said when the subject was discussed I was daft... Im not either daft or clever. But if I were the OP and I was in no rush to buy I would bide my time and wait/hope the rate get better which they likely will.

Lets face it good people the experts cant get it right so what hope have we got ?
 
D

Deleted member 29692

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So much for the Tory economic miracle..They couldn't run a bath less an economy.

you don't mention budget but spending £30K now gets you 3000 less € so hardly earth shattering..just negotiate harder

what you describe is exactly what the Torys did to win the election, blaming Labour when it was Lehman brothers who brought the house of cards down.. and most of you feel for it...

Oh look, a double standard.

Please correct me if I'm wrong here but you appear to be suggesting that the Tories are solely to blame for insignificant minor fluctuations in the current rate but Labour are totally blameless for the sustained 30% decline between 2000 and 2009.

I suppose you don't see the problem with that?

They are either both to blame or neither of them are to blame. Trying to have it both ways is insulting to everyone else's intelligence.
 

Judge Mental

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But hard dealing surely would have been done anyway ? I mean who is going to go to a dealer and say "there you are there is my money I wont haggle cos the exchange rate is good"

Whatever the final deal ends up being the OP is I think saying he will not be in as good a position as a short while ago.

On the advice here we have stored up our euros for 2016 holidays. Bought when rates were at their best . Yet some said when the subject was discussed I was daft... Im not either daft or clever. But if I were the OP and I was in no rush to buy I would bide my time and wait/hope the rate get better which they likely will.

Lets face it good people the experts cant get it right so what hope have we got ?
You have to look at the whole picture. OP said it's much better value than anything for sale in the UK so bet he will still be quids in even at a crap rate....

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