Euro weakens, Pound Strengthens
Is this a good time to buy euros with pounds?
With the interbank rate just moving between 1.158 and 1.147, EUR : GBP, this could be a great time to buy euros. The exchange rate was just 1.02 a few weeks ago.
However, the age-old problem exists for many of our clients. If there´s no particular need to make the exchange today, most people would hold-off, believing that we may go higher yet. Maybe the exchange rate will go higher than 1.17 peak just a few months ago?
Lessons from that peak at 1.17 may be very valuable. The rate dropped rapidly to 1.13 / 1.14 and those clients missed the opportunity. If I relate this to £10,000. When the rate dropped from 1.17 to 1.13, this represents a loss of 400 euros.
Relate that 4 cent drop to £100,000, and the loss then becomes 4,000 euros!
How can you avoid losing out when an exchange rate drops? This depends on when you need the money. I am here to help, but I can´t predict the rate changes. Here are some suggestions:
SPOT DEAL. Buy your Euros now while the rates are relatively good. As you´re already registered, all you need to do is call me (or email me using the form below) and I´ll get you the most competitive exchange rate at that moment. The exchange rate will be better than the bank. Also, we don´t charge transfer fees, or commission.
FORWARD CONTRACT. If you don´t need the money straight away, but you would like to secure this great exchange rate opportunity, I can buy the money for you now, for delivery at an agreed date. I buy this on my clients´ behalf with just a 10% deposit. This is a very flexible arrangement as I buy the currency in a particular way that secures the exchange rate. If the exchange rate drops again to 1.10 from 1.15, then you will have saved 5,000 euros on a £100,000 deal, with just £10,000 deposit.
If you´d like to discuss how I may be able to help you, please call me or any of the team on this page.
Alternatively, just complete the short form below:
