Best time to buy Euro in sterling?

[ludermor]

Thanks for the replies. Fairfx offering 1.19 rate on £10k at the minute

Giveherlong, for comparison I just got quoted 1.2087 on UKForex which on my commission gives spot rate of 1.2157. If FairFX are giving 1.19, then that is about 2.1% spread which I'd say is pretty hefty. First transfer I did was around same size and was little more than 1%.

Based on the 2 rates examples above (1.215 & 1.19), am i correct in working out the difference as €257 if changing £10,000?

1.215 x £10000 = €12,157
1.19 x £10,000 = €11,900

1.215 was the interbank rate - you wouldn't get that. In my example i could have dealt at 1.2087 so gotten EUR 12,087 or EUR 187 more than he was quoted by the other crowd.

I use this crowd and have rarely seen them beat for price, sometime they have managed next day pay.
https://transferwise.com/request/placeOrder?execution=e1s2

[giveherlong]

Don;t forget the interest effect too

if you have £10k in sterling sitting in a ISA at say 3% that would earn you £150 ish over the 6 months, whereas if you withdraw it all and change to Euros you lose that.

Also think about what are you going to do with the money when you lift it - pay the venue, or having sitting around?

We had the same question before our wedding, and in the end decided we didn't want a fortune in cash lying around, didn't want to pay the venue/suppliers early and that the fees for depositing and withdrawing in my husbands Euro account together with the commission fees and the loss of interest etc that it wasn't worth changing it as we didn't really expect any major exchange rate fluctuations.

I am now very glad we made this decision as the rate when we booked the wedding was about 1.15 and by the date of the wedding was 1.2

I was planning to deposit into my euro account. Would there be questions asked? Don't think there would be a deposit charge? The online sites mentioned seem to transfer electronically and I'd assume they would put into my euro account ok

[DennistheMenace]

It seems the online sites offer a better rate but not much use if you don't have a euro account I wouldn't think.

[DennistheMenace]

Still a good time to buy euros in sterling?

[giveherlong]

Starting to pick up again if you want to buy euros

[DrinkingHarp]

Euro and Pound dropping against the dollar, is this trend going to continue?

Looking to buy both with some US dollars and trying to determine if I should hold out for a few more months.

[The Subbie]

I use currency fair to transfer Aus $ back to € , i have rarely seen them beaten on price and €4/transaction, first 4 or 5 are free if you use a discount code, Jarlath Regans "Irishman abroad" podcast is sponsored by them and there is a discount code floating around his twitter.

very good service, funds clear within hours.

[macdanger2]

Euro and Pound dropping against the dollar, is this trend going to continue?

Looking to buy both with some US dollars and trying to determine if I should hold out for a few more months.

I reckon it'll reach parity with the dollar by the summer. I'm basing that on basically no information though

[DrinkingHarp]

Euro and Pound dropping against the dollar, is this trend going to continue?

Looking to buy both with some US dollars and trying to determine if I should hold out for a few more months.

I reckon it'll reach parity with the dollar by the summer. I'm basing that on basically no information though

I understand, but the way it is dropping (Euro) it shows a promise to make some financial gain the next 2-4 months, Dollar to Euro.
Week ago it was 1.05 to dollar now 1.08, I am hoping by June it hits below a dollar to make some$$$$.

[FL/MAYO]

http://www.reuters.com/article/2015/03/13/markets-euro-goldman-idUSL5N0WF1LD20150313

Finally a strong USD, going home this summer will be a little less expensive. I hope Goldmans predictions prove to be correct purely for personal reasons. We plan to move back in 3 years hopefully.