# Euro, on the slide.



## Manchego

A little bit of good news for those of us who do most of there motorhoming in europe. The euro has taken a real tumble in the last few days, mainly on news of problems in greece but also with an eye on some other members who are in trouble. Against sterling it is now at 87.2p, it's best for about 6 months and it looks like it could go further still after the euro went through it's 200 day moving average today.


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## satis

Hiya Manchego  
Its very good news indeed,Might consider buying some euros again if they continue to fall below 80p Kind regards Satis


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## goldi

Afternon all,


Yeah, the euro needs a good beating up.


norm


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## nicholsong

Schaudenfreude!


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## Tobysmumndad

Today's 16:35 interbank exchange rate bid price is 1.1465 - Up 0.93% since last midnight.

Background reading at: http://www.frenchentree.com/fe-currency/DisplayArticle.asp?ID=30980

and: http://www.frenchentree.com/fe-currency/DisplayArticle.asp?id=38049

I was standing in a certain high street bank on Friday, and they were selling Euro notes at 1.05, buying at 1.21. Daylight robbery, but let's not get started on that again, eh?


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## Rapide561

*Euro*

As inflation has moved ahead, this increases the chance of interest rates rising to combat the same. Higher interest rates make sterling attractive to investors, ie more Euro to the pound.

Russell


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## raynipper

nicholsong said:


> Schaudenfreude!


Just love that................. :twisted:

Ray.


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## gromett

I use a custom BBC home page to get my news, weather and currency. It has a handy link to Full currency details and graphs (BBC)

Karl


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## Tobysmumndad

*Pound/Euro back above 1.12*

The Pound has fought its way up to the dizzy height of plus 1.12 to the Euro here on the back of revised upward figures for the economy in the last quarter.

I now wait to see if Dr King makes yet another doom-laden announcement to counter this slightly better news, and send it back down again. I have a theory about this gent trying to 'engineer' the Pound downwards. Watch ...

:roll:


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## DTPCHEMICALS

And so do. I When a pound = a euro some twits will want us to join.


Dave p


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## Rapide561

*Euro*

Little shop in Swadlincote is selling Euro at 1.08 today. I loaded my Caxton at 1.090

Anything above 1 - 1 is a bonus, a far cry from the 1.52 three years ago.

Russell


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## Telbell

Had a Crown Currency delivery today-1.179.

Checked records for last April...1.120


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## Waggy

1.0806 at the Post Office online today.

Do I buy now or wait?


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## Rapide561

*Euro*



Telbell said:


> Had a Crown Currency delivery today-1.179.
> 
> Checked records for last April...1.120


Tel

Please could I be nosey?

When did you order the Euro? When did you pay for the Euro? How many did you order? Do you pay postage?

Cheers

Russell


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## Telbell

Russell

Ordered 15/12/09. Paid by BACS 16/12. Delivered Reg post 30/3
Order :- EURO Amount:- 355 Rate:- 1.1759 GBP Value:-£ 301.9

Have some more coming on May 4th. Ordered 19/1 Paid BACS 20/1
590 Euros, Rate= 1.1801; Cost £ 499.96 

No charge for delivery, which is always "on the dot"I#ve ordered about 5 lots since last Autumn ready for 3 trips this year.

Also have the Caxton Card which I'lll probably add in the next few weeks.


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## thegreatpan

I use CCE as well, I always pre - order some when it seems a favourable rate. This febs trip was all at €1.19 ish , they have always delivered on the dot. As someone did point out on here, they do have your money from order till collection.


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## Telbell

> As someone did point out on here, they do have your money from order till collection.


True but no great hardship given the low savings rates at the moment


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## goldi

Afternoon all,


I bought euros on 31st march @o.89 with a view to selling sometime in the next 2months if there is a hung parliament
chich could cause the sterling pound to crash.
I will sell the euro @ 91.5. 

norm


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## Losos

DTPCHEMICALS said:


> And so do I. When a pound = a euro some twits will want us to join.
> Dave p


Wasn't it at parity about two years ago :?: There was some talk about joining the Euro then but it never happened :lol:


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## Rapide561

*Cash*

Tel

Many thanks for the information.

There are a couple of thoughts in my mind here, and as I like numbers, here goes!

The website is quoting Euro at 1.1143 for delivery on 21 April or 1.1399 for delivery on 18th October.

So £500 x 1.1143 = 557.15 Euro

and £500 x 1.1399 = 569.95 Euro.

£500 in the Tesco instant saver account would earn £5.91 interest, so for round figures call it 6 euro worth. It seems then that you gain 6 euro by buying in advance, assuming exchange rates did not move after factoring in the interest lost on sterling funds.

However, as with all forward contracts, you are committed to complete the contract. In this case you have paid in front. If the exchange rate was 1.50 in October, then tough - you are stuck with yours at the contract rate. Equally, if the Euro was on parity, ie 1 to 1, then you gain.

My second thought relates to what happens if these pre order firms go bust? Do you get a refund? Are the pre order type firms bonded in anyway?

I use a Caxton Card but have an email from the Financial Services Authority stating that funds held on the card are not covered in the firm collapsed. The email is already on here on a Caxton thread.

For me, I will keep my cash in the bank and buy as and when needed, unless there is specific financial protection in place. Would paying by credit card be a possibility?

Just my thoughts and I am in no way suggesting that any firm offering forward selling of currency is financially unstable.

I will also add that on the Tesco website today, Euro are on sale at 1.0950, Travelex offer 1.0952 and finally Caxton are quoting 1.105.

To sum up, based on the figures I have played with, you may gain 1%, assuming rates stayed constant. I would want a financial guarantee though in case the other party to the contract could not deliver the reddies!

Russell


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## Rapide561

*Forwards*

Hi

Sorry I forgot to add, it is possible to use a forward contract whereby you do not pay until contract date, but not for small amounts. Generally, this is available to business customers, but a bank may offer this to a personal customer. Obtaining cash from a forward contract is complicated but can be done, as can drawing travellers cheques against a forward contract.

A forward contract is the banking term for agreeing to buy/sell an amount of currency to/from your bank on a given date. Usually used for converting sterling to settle a telegraphic transfer etc, letter of credit or cheque negotiation etc

Russell


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## Telbell

Hi Russell

But do you get a financial guarantee when you upload your Caxton? I suppose only inasmuch as you know what exchange rate you're getting when you buy your goods-but no guarantee that Caxton won't go belly up either.

I had an Email from CC selling at 1.1409 for late May delivery....if you sign up top EMails you can get early notification of "deals".

Yes it's all a gamble as to either (a) the rate goes up or down if you decided to delay or (b) Forward buying from a company which may not deliver the goods.

Seems to be quite a few of us on here who've used CC successfully and I reckon I've gained around 120 Euros over the time I've used them compared to the "going" rate.

Take your points though


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## Rapide561

*Euro*

Interesting to see 1.1333 on the BBC website. Go on Euro, keep faliing, go back to 1.50 for uncle Russell!

Russell


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## Dide

I somehow think May 6th may have an effect on what happens next!??

David


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## barryd

*Re: Euro*



Rapide561 said:


> Interesting to see 1.1333 on the BBC website. Go on Euro, keep faliing, go back to 1.50 for uncle Russell!
> 
> Russell


Yes 1.50 by Friday when I am _*hopefully*_ in France!


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## ICDSUN

*Re: Euro*



barryd said:


> Rapide561 said:
> 
> 
> 
> Interesting to see 1.1333 on the BBC website. Go on Euro, keep faliing, go back to 1.50 for uncle Russell!
> 
> Russell
> 
> 
> 
> Yes 1.50 by Friday when I am _*hopefully*_ in France!
Click to expand...

Love an optimist, how do you handle dis-appointment, well I hope

Chris


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## barryd

*Re: Euro*



ICDSUN said:


> barryd said:
> 
> 
> 
> 
> 
> Rapide561 said:
> 
> 
> 
> Interesting to see 1.1333 on the BBC website. Go on Euro, keep faliing, go back to 1.50 for uncle Russell!
> 
> Russell
> 
> 
> 
> Yes 1.50 by Friday when I am _*hopefully*_ in France!
> 
> Click to expand...
> 
> Love an optimist, how do you handle dis-appointment, well I hope
> 
> Chris
Click to expand...

Dont talk to me about disappoinment! Have you seen my post re the van breaking down, missing a wedding and a trip to France!

http://www.motorhomefacts.com/modules.php?name=Forums&file=viewtopic&p=826506#826506
I dont care what the Euro does really. I just wanna get to France!


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## Autoquest

I am 'in' to CC for £300 at 1.17 Wish I'd gone for a £1000 now


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## Rapide561

*Euro*

1.1501 on the BBC website, so probably about 1.135 on the Nationwide card or similar.

Russell


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## Mike48

The 1.15 is not the tourist rate. It is the interbank (wholesale) rate. No way can you get 1.35 even with a Nationwide account as the banks would lose money.

At today's tourist rate you will be lucky to get 1.12 but there is good news ahead. Forward contracts are anticipating a rise month on month to the end of the year to in excess of 1.17 in December.


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## Rapide561

*Euro*

I never said 1.35! It was 1.135. I wish it was 1.35 though!

Russell


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## JockandRita

*Re: Euro*



Rapide561 said:


> I never said 1.35! It was 1.135. I wish it was 1.35 though!
> 
> Russell


Over to you *gelathea*! :wink:

Jock.


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## Mike48

*Re: Euro*



Rapide561 said:


> I never said 1.35! It was 1.135. I wish it was 1.35 though!
> 
> Russell


Apologies. I thought 1.35 seemed high but even 1.135 is a good rate.


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## Wupert

*Re: Euro*



gelathae said:


> Rapide561 said:
> 
> 
> 
> I never said 1.35! It was 1.135. I wish it was 1.35 though!
> 
> Russell
> 
> 
> 
> Apologies. I thought 1.35 seemed high but even 1.135 is a good rate.
Click to expand...

1.15 at 1800

Wups


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## Rapide561

*Euro*

Mmmmm

1.1601 on the BBC (commercial rate) at 0820!

Caxton offering 1.138 to load their card

www.travelex.co.uk offering 1.1120 for pre ordered cash.

All looking better, come on Euro come to dadda, 1.53 would be nice!

Russell


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## EJB

Barclays offered a customer 1.13 over the counter this morning.


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## Rapide561

*Euro*

1.1686 on the BBC website

1.14 to load a Caxton card

1.122 on Travelex pre ordered.

Russell


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## Rapide561

*Euro*

1.1816 on the BBC, 1.1585 on the Caxton.

Russell


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## Telbell

Talking of which.......

had an Email from them (Caxton) today reminding me that my card expires mext Monday.....and we leave home in 10 days and will need it!

Just applied for renewal online so hope it gets to me on time 8O


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## JockandRita

*Re: Euro*



Rapide561 said:


> 1.1816 on the BBC, 1.1585 on the Caxton.
> 
> Russell


And 1.179 on my screen gadget. It updates every time I turn on the laptop. :wink:

Jock.


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## Rapide561

*Euro*

1.1858 on the BBC, 1.164 to load a Caxton Card, Tesco Bank offering 1.1468 for cash, Travelex offering 1.145.

Russell


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## wobby

I would sooner see the pound strengthen than the Euro weaken, that way we get a better exchange world wide. If the Euro weakens against other currencies, prices will rise in Europe. 

Wobby


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## rupert1

Crown Currency this morning 1.16.


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## rupert1

Crown Currency this morning 1.16.


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## raynipper

Mid range at which my pension gets paid .......... 1.00 GBP = 1.19315 EUR 

Happy Ray.


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## thieawin

whilst it is inconvenient and adds expense I never cease to be amazed at the short sightedness of posters on the exchange rate.

For the econoomic god of the country we need to have a weaker pound. For years its level was kept artificially high by interest rates by the BoE

Remember 70%approx of our trade is with EU, fewer Euros tio the pound help our exports. We are still the sixth largest manufacturing economy in the world. It also helps with exports to China and US

A weak Euro against the dollar also helps us, our exports to Euroland are cheaper than those from Uncle Sam or Japan or China, whose currency will have tio be revalued sometime and when it is it will be in dollar terms.

OK a weaker pound means inflation, we will have to put up withb a bit of that.

The Euro will survive but it will be painful. The politicians who put it together always had political union in mind, that means European control of budgets. If you cannot control interest rates or exchange rates as Euro members cannot all you can do is print money. That may be a short term exepdient but long term it cannot continue, hence Greece et al

Yes states may go bankrupt and default. It happens in the US, think of NY and California. Once there is prooper monetary amd political union in the Euro zone the only lever left will be movements of population fro araes of poor ecomnomic performance and jobs to those with better performances. We are starting to see that any way.


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## raynipper

thieawin said:


> whilst it is inconvenient and adds expense I never cease to be amazed at the short sightedness of posters on the exchange rate.
> 
> For the econoomic god of the country we need to have a weaker pound. For years its level was kept artificially high by interest rates by the BoE
> 
> Remember 70%approx of our trade is with EU, fewer Euros tio the pound help our exports. We are still the sixth largest manufacturing economy in the world. It also helps with exports to China and US
> 
> A weak Euro against the dollar also helps us, our exports to Euroland are cheaper than those from Uncle Sam or Japan or China, whose currency will have tio be revalued sometime and when it is it will be in dollar terms.
> 
> OK a weaker pound means inflation, we will have to put up withb a bit of that.
> 
> The Euro will survive but it will be painful. The politicians who put it together always had political union in mind, that means European control of budgets. If you cannot control interest rates or exchange rates as Euro members cannot all you can do is print money. That may be a short term exepdient but long term it cannot continue, hence Greece et al
> 
> Yes states may go bankrupt and default. It happens in the US, think of NY and California. Once there is prooper monetary amd political union in the Euro zone the only lever left will be movements of population fro araes of poor ecomnomic performance and jobs to those with better performances. We are starting to see that any way.


Oh great news thieawin.
I will sacrifice my remaining years for the good of the up and coming country.......... AGAIN.????

Bugger em. This is mine and many more 'mature' folks who are nearing the end of their up and down lives and only have a short time to enjoy what we have paid in for and been conned out of and we are expected to look upon the good of the country that has been decimated by crooked politicians feathering their own nest ......... whew, draw breath before going blue.

Self centred Ray in his remaining few years.


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## Glandwr

raynipper said:


> Oh great news thieawin.
> I will sacrifice my remaining years for the good of the up and coming country.......... AGAIN.????
> 
> Bugger em. This is mine and many more 'mature' folks who are nearing the end of their up and down lives and only have a short time to enjoy what we have paid in for and been conned out of and we are expected to look upon the good of the country that has been decimated by crooked politicians feathering their own nest ......... whew, draw breath before going blue.
> 
> Self centred Ray in his remaining few years.


Second what tieawin said and point out that, individual circumstances aside, the generation at or nearing retirement age are by far the most comfortably off than any previous generation, largely at the expense of those to come. This is due to the wealth we have locked up in real estate.

And before anyone rails about earning it and hard work etc. 90% is simply because of the rise in it's value!

Now if that wealth were circulating and creating jobs etc ..........

Pure luck, the baby boomers have it again.

Dick


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## chapter

the rates are moving up but not a lot at easter the exchange rate on majorca was 1.08 in portugal yesterday it was 1.12
chapter


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## raynipper

Narrrr Dick.
First it's individual circumstances that shape our views and aims.

Second not all was amassed automatically by the rise in property values. Some was by working 16 hours a day 7 days a week for years. Some was doing a hard days work and then clearing up someone else's crap in the evening and taking risks where todays generation would not.

Third our kids will have far more dropped in their hands than many of us ever dreamed of. 
I am concerned about the "Easy come, easy spent" generation.

Ray.


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## Yeti

Hi all

Well said "raynipper"
I heartily endorse you views, I too have struggled to get where I am, despite that is,the greatest efforts of fat cat bankers and certain politicians and civil servants.
I see no need to do it all over again, only in all probability for it to happen once more.

The Yeti


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## thieawin

Ray I am sorry for your plight. Is there no action group and a clever lawyer willing to take on the FSA on no win no fee?

But your feelings over your loss should not colour your judgement

Age wise I am not too far away from you. I have worked hard and I too see my pension arrangements worth less than the sum I have paid in. The best bit is the money I invested when Euros were €1.50 = £1 sterling. Forget the US and UK bits. In fact the US bit is worth half what I invested

However I did buy an apartment and a farmhouse in Spain again at €1.50 to the pound and have spent 5 years doing up. I chose an area with little new development but continuing strong demand near to Barcelona. I have been lucky with prices not falling too much. It has hurt however to pay for the renovation work out of sterling income and see costs rise so much, but that is life and I cannot change it

I have spread my investmenst and I hope chosen wisely. I have gained by foreign currency movements and have been lucky, I have also not put too many eggs in one basket.

The problem with investments and advisors offering deals which are better than others is that at best they are risky and at worst they are too good to be true.

Its the same with currencies. strong ratswe kept artificailly high not only damage the industrial economy but long term give higher interest rates (OK for retirees but not for borrowers, either for housing, business or government) and eventually we have to have devaluation and inflation. Think how you would suffer if we ended up with either Tory 17% interest ratees after exit from the ERM or a huge devaluation. Your savings would only retrurn 5% so you woud have wasting asset low income and high inflation

I'm not saying Labour has been any better, what we all need long term is stability of interest rates and exchange rates so we can afford the pensiosn we have been promised and not have to cut them


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## raynipper

Thanks for the suggestion 'thieawin'.
I guess just for once I wasn't complaining about our losses directly in this topic although I can't ever forget.
I did find a lawyer willing to take up the cudgels against the FSA on a no win no fee basis. But after he took advice from Queens Council it transpires the FSA under the protection of The Treasury have immunity against any prosecution, even for gross incompetence.

Anyway, back to the discussion.
It has always seem an uphill struggle to get ahead in my life. War widowed mother, deprived secondary education, slave wages apprenticeship, Harold Wilson destroyed career and hopes of home ownership, Ted Heath destroyed trucking business and then the FSA.

But I still maintain we have vastly more than our parents and our kids will share more than we ever had in desposable assets. The trick will be to hang onto it and in today's society they will soon be milked of their inheritance, large or small. 

I accept the currency fluctuations and the low interest rates. Mainly they go hand in hand. But that 17% you mention was only a blip in time. Whereas €1.10 and 0.5% are longer term and been with us for almost two years. We have suffered poor exchange rates and savings income. 
Please don't decry us our turn for an upturn in our financial fortunes. €1.20 and just 1% will help us ageing retired people regain our income to a small degree. Where those younger folk who have benefited for some time with very low mortgages and loans and who might have taken more debt on the strength of low repayments could now find things swinging the other way. And quite rightly.

Yes the UK and many other countries are in a bad way. But don't keep kicking the dead donkey. Maybe the guys with the whips should knuckle down and contribute to everyone's future. 
After all we live in a cockeyed society where it costs £100k. a year to keep a prisoner in comfort but only £5k. a year to a pensioner. £100k. to process illegal immigrants and £20k. nurses and teachers. You can have 30+ good and responsible kids to a class in schools but one disruptive little bastard gets taken by taxi to one to one tuition at a special school. But that's another gripe of mine.

Anyway, if you want to help in the counties future and prosperity please go ahead. But personally I feel the system has had enough from me and still messed up so I'm not going to offer more to be poured down the social drain.

Ray.


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## Rapide561

*Euro*

Some very interesting points raised.

On the side of the tourist, 1.18 on the Caxton and 1.1999 on the BBC.

Still nowhere near the 1.53 just over three years ago though.

Russell


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## Glandwr

Ray, I was not suggesting anything other than we have been very lucky as a generation and have accumulated (provided we were a home owner or had other investments in property) more wealth than any previous generation and that locked up wealth, taken out of the economy will as any A level economics student tell you has a detrimental effect on growth.

I meant no slight, and did not speak from envy. I myself and in the same fortunate position.

I bought our house (in a now desirable area) in 1975 for £15,000 it’s now conservatively worth £575,000. Although I’ve worked all my life I don’t consider it was my sweat that earned that extra £560,000 or if you scale up the original £15,000 for inflation (now worth £95,000) this is still £480,000 of wealth that I could dispose of that in my opinion I didn’t earn.

Or did I? 

Dick


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## Rapide561

*Euro*

Those touring will be pleased to know 1.2064 on the BBC website.

Russell


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## Glandwr

This is exciting to me. I hope to have bought my dream a 3/5yr old top level German A class before the end of the summer.

When the dream was in it's infancy (4/5 yrs ago) I had planned to import from Germany. Lately it's seemed no advantage, but could be on again now if it keeps up.

Is it going to get better?

Dick


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## raynipper

It only wants the BoE to start raising interest rates and all those Ex-Pats trying to sell up in Spain might change their minds.

£1.00 = €1.207 today mid range.

Ray.


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## chrisgog

This is a website worth watching if you want to buy euros. If you are not sure if it is going up or down then check this site in the afternoons and if it shows a dip then get to the euro exchangers and buy then before the shop closes and it drops the next day. Hope it keps going up as just used visa to book campsite in euros so I might get a better exchange rate this week.

http://news.bbc.co.uk/news/business/market_data/currency/11/13/intraday.stm

Better than 1.12 that we had last year.
chris


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## Delores

Saw the title of this thread and thought it was a new and exciting way to get to France.

Apparently not...


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## Rapide561

*Euro*

Hi

Almost 1.22 on the commercial rate. Expect about 1.19 for cash.

Russell


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