Anything in sterling [Brexit discussion]

VincePP · 24-06-2016 10:24AM

Too many people are sucked in by second rate media commentary. The world has not ended, the markets will always work back to fundamentals and the UK economy is strong and will not weaken much.

If Britain voted remain, sterling would have moved to about 75p / 1.33. Now that they have voted out it looks to be settling at 80p / 1.25 - about the same as it was a couple of weeks ago and similar to what it was in February.

Here's your real time rate http://finance.yahoo.com/quote/EURGBP%3DX/news

Amouar · 24-06-2016 10:25AM

Keith186 wrote: »

Exchange rate is £1=€1.10 on FX Street. On the visa app to check what rate applies to your card it's still €1.31.

Might have to wait until later or tomorrow for full benefit?

Seems like i missed the 1.10 rate

it now back to 1.25

Benzino · 24-06-2016 10:26AM

JimsAlterEgo wrote: »

does not compute, you still have to buy the voucher today(apologies if I am misisng somethign obvious) !!

An example: Today you purchase a game not out till 20th November, Amazon won't charge you till about the 20th November, and they will use the exchange rate of the 20th of November, and not the exchange rate of today.

This applies for credit/debit cards at least, as mentioned above I don't think this applies for Paypal.

VincePP · 24-06-2016 10:27AM

Amouar wrote: »

Seems like i missed the 1.10 rate it now back to 1.25

It never went anywhere near 1.10. GBP/Eur hit a low of 1.21 for about 5 minutes at 5.24am.

Keith186 · 24-06-2016 10:31AM

Amouar wrote: »

Seems like i missed the 1.10 rate it now back to 1.25

Actually I think that's a mistake I posted initially. Looks to be the $ exchange rate. Apologies!

Lord Nikon · 24-06-2016 10:44AM

horse7 wrote: »

Xe.com is down. An post is showing rates for yesterday.

XE is working, just not for Sterling rates.

VincePP · 24-06-2016 10:50AM

Bob24 wrote: »

Is there a lag on visa/mastercard rates (closure on previous day or something like that), or do they reflect intra-day changes ?

Credit cards now use "spot rates" + a margin for almost all transactions as most transactions are made in real time.

In a case where transactions are recored bu only uploaded at the end of a day, then the closing rates apply - but this would be quite unusual these days.

snubbleste · 24-06-2016 10:52AM

Oú est le bargain?

Blade · 24-06-2016 10:52AM

Live exchange rates here: https://www.oanda.com/currency/live-exchange-rates/

Gold and Silver went up as expected, live rates here: https://www.bullionvault.com/silver-price-chart.do

24-06-2016 10:53AM

So should i be rushing to the north to do the shopping or not

Johnny_Fontane · 24-06-2016 10:59AM

If ever you needed your revolut card, its now!

actually tracked the price this morning on their app to see where its going.

223vmax · 24-06-2016 11:06AM

Deleted User wrote: »

So should i be rushing to the north to do the shopping or not

Its all relative....its only down approx 5c per € over last few months...Unless your spending 000's its a waste of time.

Tinie · 24-06-2016 11:08AM

Deleted User wrote: »

So should i be rushing to the north to do the shopping or not

Unless you want to save a few quid, then no.

Bad media outlets are spinning this that the pound is diving when it is, but relatively only a few pence down. Its nothing like years ago when it dropped.

seamus · 24-06-2016 11:09AM

I'd wait till Monday before buying anything. Your credit card provider likely won't update their GBP exchange rates until the end of the today.

VincePP · 24-06-2016 11:14AM

seamus wrote: »

I'd wait till Monday before buying anything. Your credit card provider likely won't update their GBP exchange rates until the end of the today.

utter rubbish. Maybe 20 years ago that was the case. Everything is done in real time these days.

Rates are nothing to do with nay "provider" rates are set by visa / mastercard themselves. Providers may charge an additional fee which is in their terms and conditions.

mrcheez · 24-06-2016 11:24AM

Revolut are using the latest exchange rate. I've already made 2 orders on Amazon.co.uk at 8am this morning (had items I was waiting to buy until the sterling plummeted, as I predicted).

Saved about €15 on what it would have cost me yesterday.

Eyeing a new PS4 too...

Bob24 · 24-06-2016 11:26AM

seamus wrote: »

I'd wait till Monday before buying anything. Your credit card provider likely won't update their GBP exchange rates until the end of the today.

That was my impression as well.

And which way do people think the pound is heading next week? I don't think it is crazy to think it could drop further down?

JimsAlterEgo · 24-06-2016 11:37AM

https://www.visaeurope.com/making-payments/exchange-rates

Note
1.Rates apply to the date the transaction was processed by Visa; this may differ from the actual date of the transaction.

and in the case of amazon you are not charged until its shipped so processing at the earliest would be that day (you can buy and use a voucher to lock in today as shipping day).

muloc · 24-06-2016 11:54AM

is it cheaper to take money out of ATM in UK using debit or credit card?

Monotype · 24-06-2016 11:58AM

I think that withdrawing from an ATM using a credit card usually incurs cash demand fees, so the debit card is likely to be cheaper, assuming that you have money in the account. Could depend on the bank/card.

Paidi28 · 24-06-2016 12:18PM

So could anyone suggest the best way to take advantage of the exchange rate at the minute ? Currently have an AIB student a/c if that makes a difference and paypal.

mrcheez · 24-06-2016 12:27PM

Paidi28 wrote: »

So could anyone suggest the best way to take advantage of the exchange rate at the minute ? Currently have an AIB student a/c if that makes a difference and paypal.

Revolut card? Though it does take a few days to arrive but exchange rate probably will remain similar by the time it arrives.

DANNY2014 · 24-06-2016 12:31PM

Going to London in September is now a good time to buy sterling in cash or what would be the best option? Some websites saying it will go on par again with euro. Where is the best place to buy?

DellyBelly · 24-06-2016 12:36PM

Just went into Newry and saved about 15 euro on the weekly shop. However I did spend 25 euro extra on fuel on a trip I normally wouldn't make. The shops had a lot of ROI registered cars there today...some great bargains

RayCon · 24-06-2016 12:39PM

DellyBelly wrote: »

Just went into Newry and saved about 15 euro on the weekly shop. However I did spend 25 euro extra on fuel on a trip I normally wouldn't make. The shops had a lot of ROI registered cars there today...some great bargains

You spent €25 to save €15

Dard23 · 24-06-2016 12:42PM

mrcheez wrote:

Revolut card? Though it does take a few days to arrive but exchange rate probably will remain similar by the time it arrives.

How would that work though? You top it up in Euro, can you then choose to have it change the currency to pound and hold it?

jma · 24-06-2016 12:45PM

Amazon's exchange rate might be favourable today.

Mastercard is 0.7645
Bank of Ireland is 0.7862
Amazon is 0.77531

VincePP · 24-06-2016 12:47PM

DellyBelly wrote: »

Just went into Newry and saved about 15 euro on the weekly shop. However I did spend 25 euro extra on fuel on a trip I normally wouldn't make. The shops had a lot of ROI registered cars there today...some great bargains

rubbish - the exchange rate has moved all of 1p since last week when the rate was 0.79 - 0.796.

So to "save" €15, it would suggest that your spend was over €1200.

Add in your extra fuel spend, exchange rate change costs, and additional time, you lost heavily.

eeguy · 24-06-2016 12:50PM

firestarter51 wrote: »

Are you really saving that much on a general purchase
If you spend thousands there is a savng to be had bit for a 50 voucher what is the saving ? A pint

It's only about 6 cent on the euro. So a half pint.

snubbleste · 24-06-2016 12:53PM

VincePP wrote: »

rubbish - the exchange rate has moved all of 1p since last week when the rate was 0.79 - 0.796.
So to "save" €15, it would suggest that your spend was over €1200.
Add in your extra fuel spend, exchange rate change costs, and additional time, you lost heavily.

But, but, but they posted it in BA, so it must be a bargain.

Anything in sterling [Brexit discussion]

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