Exchange rate

Banking & Financial
1

If you need to change any money the pound is strangely high at the moment, well above 1.14.

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2

1.1448 interbank - if you can get it…
State pension is due in 2 days… let’s hope it holds!

3

I saw that, pretty surprising, I wonder what news caused the spike.

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4

We used to use CaxtonFX but of late, they seem to have got greedy.
We now use WorldRemit which, in spite of a single £2.99 fee works out a better rate overall…

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5

I’m lucky at the minute as my dad gets a euro pension and now lives in the UK. I give him GBP and he gives me euros, we both benefit.

6

at what rate of exchange?

7

A few cents more than I could get any where else. He obviously does it to help me and it’s not a regular thing as I don’t like to take advantage.

8

Why would you be taking advantage? If you are both exchanging money regularly you should both gain by the arrangement.

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9

I was just being mischievous Teresa!

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10

Have you tried TransferWise?

11

Also consider Revolut for full interbank rates without commission.

12

I have just done exactly that, got a better rate than currency fair but TransferWise fee of £6.09 compared to €3 means the difference was about €4 into the account.

13

Rate seems to have jumped significantly on the news that the Conservatives will gain a majority in next week’s election… 1.18 currently

14

Might be time to move some funds - although why the rate should go UP on the suggestion of a Tory win is beyond me.

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15

Makes you wonder what an actual conservative majority will do to the rate, if the mere prospect of one has such a positive influence. Seems to be having a converse influence over the FTSE, foreign earning worth less? but short term I rather see a sterling recovery at the expense of equity growth.

16

I think it is more to do with the possibility of stability and less to do with who wins…

17

I realise that but any “stability” following re-election of a Tory government is going to be short lived and largely illusory.

18

I can see it going up on Dec 13th and possibly for a few months thereafter but I can only see a decline over the next 5 years if Brexit happens.

19

The markets believe a Tory win is good for the Uk, as they have a deal lined up to make a smooth exit from the EU.
The last thing they want is a labour victory or a minority government. They are so frightened if there was ever a labour victory , the Euro/ pound would go nearer parity.

The post office states 1,164 to the Euro for 1000£ and over but you would get a better rate with someone like moneycorp or fx.
IMHO.

20

I got 1.1846 today - best for a while.

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