Sterling rate today...

alo1587

Sterling rate today is at 93p, any financial experts on here that can tell us if its going to go higher in the next month or two? Might hold off on a UK purchase for a little longer if it's going to rise:)

mik_da_man

I forgot my crystal ball today

Moanin

alo1587 wrote: »

Sterling rate today is at 93p, any financial experts on here that can tell us if its going to go higher in the next month or two? Might hold off on a UK purchase for a little longer if it's going to rise:)

IF I knew that I could make myself very rich!

I'd go with it now.The rate is very good at the moment

Lenny

heard this morning on the radio the rate is .89 to GPB..
Bought something yesterday and it was .91

Robbo

I just bought sterling at 90p in AIB. The 93p you refer to is a notional rate that you've not going to get in the real world unless you're George Soros.

sparklepants

alo1587 wrote: »

Sterling rate today is at 93p, any financial experts on here that can tell us if its going to go higher in the next month or two? Might hold off on a UK purchase for a little longer if it's going to rise:)

Wouldn't think it's a good idea to hold off too long. A falling sterling will actually drive up the cost of new and second-hand cars in the UK. So the medium term nett benefit of movement in exchange rates would be zero for Irish purchasers of UK cars.

The_Conductor

Currently the spot price is 92.89p

No idea which direction its going to go- but the Bank of England are increasing the money supply by £75 billion and have permission from the UK government to increase it by a further £75 billion as they see fit, to try to encourage consumer spending.......

Potentially an extra £150 billion sloshing around = potentially a devaluation of the currency by approximately 8% (there is a broad money supply in the UK of approx. 1.9 Trillion, of which 44.95 billion of which is accounted for in actual currency- increasing the broad supply by 150 billion = an increase of about 8.21% in supply).

Who knows though- we'd all be millionaires if we could accurately predict currency movements.......

The_Conductor

sparklepants wrote: »

Wouldn't think it's a good idea to hold off too long. A falling sterling will actually drive up the cost of new and second-hand cars in the UK. So the medium term nett benefit of movement in exchange rates would be zero for Irish purchasers of UK cars.

Not necessarily- the convenient ones might increase- but if you look to some of the more out of the way locations (e.g. do a national search on autotrader instead of focusing on a particular locality)- you might be very pleasantly surprised.

peasant

economics forum ftw

They have nice, shiney crystal balls over there (problem is, every single one tells a different story)