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Sterling value dropping

  • 19-12-2007 3:51pm
    #1
    gary the great
    Closed Accounts Posts: 2,665 ✭✭✭


    I have £8k sitting in an English bank account, ive noticed thesterling is dropping in value against the Euro. Is now a good time to take the money out and convert it to Euros?


Comments

  • #2
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    Well the BOE have dropped rates a bit and will do so more hence it'll drop in value against the euro.


  • #3
    gary the great
    Closed Accounts Posts: 2,665 ✭✭✭gary the great


    Will it go back up, or is now a good time to change it over?


  • #4
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    I reckon sterling will weaken further as BOE are due to cut rates further due to impending housing crash over there.
    In my view sterling has peaked and euro rates will be steady though!


  • #5
    Rashers72
    Registered Users, Registered Users 2 Posts: 1,207 ✭✭✭Rashers72


    Cyrstal ball stuff! Not been negative, just realistic. Seems relatively stable at the moment, so I would suggest you go for it.


  • #6
    gary the great
    Closed Accounts Posts: 2,665 ✭✭✭gary the great


    Rashers72 wrote: »
    Cyrstal ball stuff! Not been negative, just realistic. Seems relatively stable at the moment, so I would suggest you go for it.

    Go for it as in change it to euros?
    I have 8k, i reckon i'll put 4k into euros and leave the other 4k for when i buy a car over there in the coming months?


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  • #7
    Rashers72
    Registered Users, Registered Users 2 Posts: 1,207 ✭✭✭Rashers72


    Rate has gone from .68 before Xmas to .74 today. Not so good at the moment, but great for anyone needing to buy sterling - i.e. more shopping in Newry.
    Check out some of the main banks web pages about their forecasts for the rate over the coming weeks.


  • #8
    gary the great
    Closed Accounts Posts: 2,665 ✭✭✭gary the great


    Rashers72 wrote: »
    Rate has gone from .68 before Xmas to .74 today. Not so good at the moment, but great for anyone needing to buy sterling - i.e. more shopping in Newry.
    Check out some of the main banks web pages about their forecasts for the rate over the coming weeks.

    Its been climbing up from .68 over the last couple of months to a present .74

    Most people are of the opinion to get it into Euros asap as the sterling is going to continue to decrease.


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