Current Euro Rate

[Alex Thompson-Rohe]

Newsflash!!!

Currently trading at the high 1.25 mark for commercial amounts on GBP/Euro at the moment.....

For further info contact Alex @ Escape Currency PLC on +44 1296 339811 or on our Spanish freephone number 9009 88 921

Kind Regards


Alex

[Alex Thompson-Rohe]

MARKET REPORT 29/09/08
Sterling rose against the dollar but weakened versus the Japanese yen on Friday, with investors wary of riskier assets as the U.S. Treasury's proposed $700 billion bank bailout package ran into trouble.
UK market fundamentals paled in comparison to U.S. turmoil, with the dollar and euro also down against the yen.
Financial share prices led stock markets down in Europe as pressure mounted on lawmakers to agree on the financial rescue plan after talks at the White House broke down.
President George W. Bush said while there were disagreements on parts of the bailout plan, legislation would be passed by Congress.
"It's still a very uncertain environment and for as long as we don't have a package then risk aversion will be the dominant theme in the market," Brown Brothers Harriman currency strategist Audrey Childe-Freeman said.
As of 0739GMT this morning the rates are at 1.8179 to buy dollars, and 1.2619 on GBP/Euro
If the U.S. government does reach a deal, AIB Group Treasury economist Geraldine Concagh said the dollar could see a knee-jerk rally -- snapping UK investor focus back to dire economic fundamentals. If we have any clients looking to buy dollars then now is the time to fix the rate…
Data released on Friday showed average house prices in England and Wales fell 1.9 percent in the month of August, leaving them 4.6 percent below their level a year ago.
"A lot of the numbers out of the UK and euro zone are not great, so it's almost a 6 case of 'who's worse?'," Concagh said.
"We will also be getting closer to the October BoE policy meeting and that will be a bit more in focus next week."
Bank of England Monetary Policy Committee member Kate Barker said on Thursday the credit squeeze had been more serious than initially expected.
We cannot stress enough the importance of fixing the rate of exchange now. With the recent turmoil in the currency markets Sterling has had a temporary reprieve. Can our clients afford to lose any more of their cold hard cash?

Speak to the experts at Escape Currency PLC to fix your rate now!!

Regards


Alex Thompson-Rohe
Currency Trader
Escape-Currency PLC
Tel: +44 1296 339811
Spanish Freephone: 9009 88 921

[Kush n Bob]

Hi all,
  Does anybody know if you can takes pounds into the Spanish banks
to swap for euros and if the rate would be any good?
Thanks
Bob.  see ya all soon

[Eagle Fore]

Hi, You will usually get a bad rate with paper pounds, they have to be posted back to the Bank of England to be paid and Spanish banks charge for this.
If you can get both a Euro and a Sterling account with a Spanish internet bank, we use CAM,you can send out sterling in advance and then change it instantly at no charge from home when the rate is good.
We got 1.28 today !
Brian

PS, If we need euros at all !  see Barbara's posting later today for explanation.

[David/Elizabeth/Paul]

Hi Bob,

Not a direct answer to your question, but the best deal for getting access to the local currency,

worldwide, at a rate which is between the tourist and the commercial rate, is a Nationwide debit card.

Load it up in the UK, spend it wherever.

Best deal bar none, (but I would love to be proved wrong!)

David T.

[Sandra]

Hi David

No, you are absolutely spot on  - its the best way - both the Nationwide Gold Card and Flex card  and they normally give a really good rate - but you still have to have cash out there for mortgage, utilities, and communidad fees.  I use Escape Currency to send money out - they are fantastic and efficient and small enough to make the service quite personal and usually get a good rate and minimal transmission costs.

However, I think Brian's solution sounds a really good alternative  - but what does it cost to send the pounds out to Cam Brian?


Sandra
 

[Sandra]

Phew, at last the Euro rate is climbing - this morning courtesy of HIFX the daily spot rate was Euros 1.15/£1 - let's hope this recovery continues

Escape Currency - do you have any views on this?

Sandra