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Savings and Brexit.

  • 04-08-2018 12:28pm
    #1
    imokyrok
    Registered Users, Registered Users 2 Posts: 521 ✭✭✭


    I have a relative in Northern Ireland who is moving to Dundalk. He has some savings and wonders if it would be financially safer to move it into euro now. If the UK crashes out with a no deal I'm thinking sterling will drop further against the euro. Any thoughts?


Comments

  • #2
    Delta2113
    Registered Users, Registered Users 2 Posts: 2,799 ✭✭✭Delta2113


    You should always keep money in the currency that you intend to spend it in. Other than that no one knows how this brexit thing will turn out.


  • #3
    imokyrok
    Registered Users, Registered Users 2 Posts: 521 ✭✭✭imokyrok


    Following the Brexit forum here on Boards and at other places I think a No Deal or Hard Deal is going to hit the UK like a sledge hammer. Us too but our currency will be held quite firm being euro. The sterling can only go down I believe. I don't want to be the one to advise my relative to definitely move the savings unless I'm wrong though. I have advised him to open a Current Account in Dundalk with Ulster Bank and ask their advice on the savings.


  • #4
    Delta2113
    Registered Users, Registered Users 2 Posts: 2,799 ✭✭✭Delta2113


    Ulster Bank will try and push it's products that's all you will get from them. Do more research but no one can predict the future.


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