Knowing when to buy currency is like wetting your finger and sticking it in the air. Earlier this year, possibly Feb/March time I bought a lot of euros @ €1.175 on my Revolut account, and today’s rate is hovering around €1.124.
I’ve spent all I bought, and need to pay for self catering accommodation in both November, December and 12 weeks early 2020. It’s a gamble, like life really, but I’m tempted to load up Mr Revolut whilst I can get this rate. Then don’t look back. Very often.
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4p?
I wouldn't stress it. If it's a rate you like then why not? If you, or I, had any reliable predictions we'd both be richer than we are.
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LL
Since you have a regular need for € why don't you set up a UK€ account and drip £ into on a monthly basis? you then spread the risk/benefit. You seem to be getting good rates from your supplier :)
Last edited by: sherlock47 on Thu 12 Sep 19 at 15:52
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If you have to worry about 4p per pound, you cant afford the holiday.
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Quite true. I don’t worry about it. Over a years rental period, several times, several properties, the difference between €1.175 and €1.117 ( Revolut at the moment) is only about £300. And my old Mum, who goes with myself and a few friends for 2 weeks each May & September pays for the expensive accommodation. The long term winter rental is dirt cheap. Like the gin, curry and car hire.
It’s only when you want to buy a half decent property in an expensive area that these marginal differences make much of an impact. And that’s not happening in the foreseeable future.
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Exchange rates - No FM2R
