Buy Euros with British Pounds, while it’s high
Is this a good time to buy euros with pounds?
With the interbank rate just dropping a little from yesterday´s 1.15 EUR : GBP, this could be a great time to buy euros and sell your British Pounds. The currency 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 the 1.17 GBP tp EUR rates peak just a few months ago?
However, 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 3 cent drop to £100,000 and the loss then becomes 4,000 euros!
How can you avoid losing out when an currency exchange rate for Pounds to Euros 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. If 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 as a time option forward currency contract, 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.
My UK number is +44(0)1480 458400
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I look forward to hearing from you. Zoe

