Sterling plummeting

economic vandalism and complete incompetence - more of “a good day to bury bad news” or at least suppress it by a compete buch of incompetents in spite of Quasimodo being hailed as cerebral from his days on University Challenge and just maybe we will get another “oh fuck” moment when he realises what damage he has done.
The maxim “Ministers decide, civil servant advise” doesn’t seem to apply or be understood to this Tory bunch of idiots :roll_eyes:

£ now down to 1.14€ - lowest for over a year.

ya ain’t seen nothing yet.

Afraid so…

I’ve read the latest rout is because UK retail sales dropped 1.6% 3x what was expected.

It was almost 1.16 at 3pm Wednesday - tempting me to purchase some euro’s. How I wish I had. I’ve almost given up…

The euro may not fair much better - at some point it’s a race to the bottom.

yes, the article says it’s down 0.5% against the $, dollar up 0.5% against basket of currencies.

£ down 1% on $ - therefore 0.5% against euro - but pound sterling has -0.8% yesterday, and -0.6% today (so far)

Always a cycle, and always very difficult to catch a bottom, but always take advantage of the rate swings, buying/selling €/£ :grin:

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I try not to worry about getting the best deal as it doesn’t help my blood pressure! Obviously if there’s a very big sum involved it will make quite a difference but then very big sums (eg house purchase ) tend to have to be made within a short window so there isn’t a huge choice.
PoundSterlingLive tends to give some good analyses on the reasons for changes but I imagine you are all aware of that :smiley:

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What do you think will happen?

I remember when I lived in Belgium but still worked in the UK in 2008. That was a big change. At the moment it seems like anything can happen

It could get much worse according to an article in the current issue of The New Yorker:-

‘Could it be that what was once an empire, and then a commonwealth, will shrink to a single country, and then at last to one quiet village in Gloucestershire, with an empty church and a thriving line in marmalade?’


As @letsmile said it’s always a cycle. I’ve never had much luck with that so far but generally things do seem to improve again after plummeting.


It got down to near parity against the euro at one point post Brexit. It then came back up again but obviously nowhere near where it was pre-Brexit. I’ve done transfers across when it was 1.11 euros to the pound and some when it was nigh on 1.2. Swings, roundabouts, that sort of thing…

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Nah. The marmelade’s been sold to an Indian company.


Oh dear, what will Rees-Mogg’s nanny say…

My best was 1.42€ to the £ - before brexit of course!

1.62€ to the £ in 1992 when we bought our first wreck in France, beat that!



It was francs at that point - I suppose you’ve converted it? (I bought this house in 1992! )

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Yes I have converted it however it was 1.52 not 1.62, sorry!
However I am not wrong in saying that we bought again in 2002 just as the euro came in and we got an exchange rate of 1.60 euro to £. We then sold our 1992 house in 2005 and bought a holiday let in 2006 and got an exchange rate of 1.42 to the £. Bought it for 140K and sold it in 2016 for 110k but the 30K loss was mitigated by the exchange rate which meant that we still made a profit.

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According to this chart:

The highest rate was €1.7286 to the £ on the 1st of May 2000, it briefly got above €1.70 to the £ that October as well and has been (with a few upward blips) downhill thereafter.