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buying euros...

It's a judgement call on how you think the referendum will go.

There's no doubt that the pound will plummet on a Brexit vote. Whether it would recover in the long run is anybody's guess.
 
Depends on your take on the likely result - remain, slight rise pound against the euro, leave, pound drops through the floor.
 
No idea but if the scenario just described is true buy now.
Waiting until the vote You risk losing out slightly if we vote in against losing out massively if we vote out.

If the predictions are true that is.
 
I recommend buying only a small amount to tide you over when you first arrive in Europe. Don't expose yourself much to exchange rate movements.

Once there you can steal the rest.
 
yep, got a nearly a couple of weeks to decide for our first holiday... and it does seem to be rising again...

seems sensible to risk losing a little and buy soon compared to risk losing even more afterwards...
 
Another thing you can do is take a nice BMW or Audi S4 say, drive it to the continent for free ( except for the petrol ), sell it locally there and have a ball with the money. Repeat for coming home, only in reverse.

edit : For the coming home bit, go for a holiday maker's right hand drive car rather than a local left hand drive one. It makes it so much easier to sell once home and far less suspicious looking.
 
depends on how much you are buying, but IMO its not worth shopping around to gain a few cents here and there. All I'll say is, if you are risk adverse then just buy now.

I took a punt on 7k worth of euro when it was at 1.42 last year - should last us for three or four hols.....
 
gintonic said:
depends on how much you are buying, but IMO its not worth shopping around to gain a few cents here and there. All I'll say is, if you are risk adverse then just buy now.

I took a punt on 7k worth of euro when it was at 1.42 last year - should last us for three or four hols.....
Click to expand...

yeah, last autmun was a good period - we bought some then, but ony enough for a few hols... we won't be buying much tho, maybe 1500 quids worth tops to see us through this year :)
 
I took a punt on 7k worth of euro when it was at 1.42 last year - should last us for three or four hols.....
Click to expand...

Nice one:)

If I understand correctly there is a possibility that currency markets have already discounted the rate in anticipation of a vote to leave. If so, a dramatic fall will not arise but we could see a return to the 1.40 mark if the vote is to stay in.

Jim
 
gintonic said:
depends on how much you are buying, but IMO its not worth shopping around to gain a few cents here and there. All I'll say is, if you are risk adverse then just buy now.

I took a punt on 7k worth of euro when it was at 1.42 last year - should last us for three or four hols.....
Click to expand...

You done good.
I bought a house in Mallorca last November at €1.42 to the pound.
Very lucky!!
 
I'm sceptical that a Brexit will cause a large movement in €/GBP. The currencies rise and fall on the central bank interest rates which are also de-coupled for GBP and €.

Current EU trade agreements would take years to unravel after an exit, so I can't see any logic for any immediate financial earthquakes.

Sentiment however, is another thing.
 
narabdela said:
It's a judgement call on how you think the referendum will go.

There's no doubt that the pound will plummet on a Brexit vote. Whether it would recover in the long run is anybody's guess.
Click to expand...

Not too sure of that. It has already lost about 7 - 10 % (depending when you start from) on the possibility of Brexit. Besides, it is all a bit vague what "Brexit" would mean, and what "non-Brexit" would mean. In any case the £ is already ouside the Euro zone. Some might feel that Brexit would make the UK finance industry more efficient, free, and profitable.

Only the almighty knows for sure.
 
When we bought a place in Spain we exchanged at a rate of 1.60 to the pound.
Not that long ago I got 1.05 albeit at a travel agents for holiday spends.

So fluctuations in a relatively short space of time can and have been massive even without the Brexit question.

Although it can be used as scare tactics for arguments sake depending on which way you want the referendum to go.
 
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