Paphos People

EURGBP=X
0.79 0.00 0.00%
GBPEUR=X
1.27 0.00 0.00%

British expatriates in Euroland are fearful as to when Sterling will improve against the Euro. Those with capital in Sterling are anxious about when and how to exchange their funds to Euros and wonder if the situation will ever improve. Retirees in receipt of pensions from Sterling to Euro are seeing the value of their spending money fall. It is difficult to know what will happen to the Euro in the near future and at the moment it is more of a waiting game for reversal of its strength to kick in, but no one can be sure.

Paragraph above courtesy LINTV

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Mal

Anyone know what the exchange rate is at the kiosks lately

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Molly

Treat others as you want to be treated

Hi Molly,
Did see a Kiosk offering 1.23 yesterday (Tue). Not good at all
Dave and Jan

Thanks Dave and Jan - I agree the rate is really bad at the moment.

Who knows though, it could drop even lower

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Molly

Treat others as you want to be treated

Grotty rates but expect worse is the message I get from some friends in the Forex business. Some pundits are forecasting GBP € parity within 'a not too far off time'.

No doubt I'll have me bum bitten by the 'experts' that frequent these Boards, but the short term prognosis is for GBP to decline. A year or more on and the situation with the crock of No2's that is the Euro will change, based as it is on some very questionable 'calculations'. The non-political issues that influence currencies have a greater emphasis and the desire to move oil away for the USD should have all pundits sniffing for a trend.

I earn in GBP and spend in Euro, without a hedge - so I'm willing and praying the rates go up. But they won't in the short term by any measure ( will actually decline to I believe a best rate 0.85 € )and a look at the futures market suggests that - I think you'll find.

Batten down the hatches if you are buying or moving over is the message?

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Men never do evil so completely and cheerfully as when they do it from a religious conviction

Good post WXW (Name?)

I don't know of any financial experts on our forum yet, so I think your bum could be safe for now

But if they come out of the woodwork, I know they'll be friendly in their replies

Hi Pete

I am no expert in forex and finance but having spent 33 years in banking of which 25 were in the markets, I can cast the runes with the best of them.

I agree with WXW. Parity certainly is on the cards unless a banana skin from Euroland pops up. One has, notably a significant fall in external exports from Euroland but it is not affecting the value of the euro. Politics overplaying the fundamentals.

If you wish to see the euro/gbp rate stabilise from where we are then pray for higher than 2% inflation because the BOE is legally bound to give control of inflation priority over interest rate policy........in short interest rate cuts. If interest rates stay where they are the money flows to sterling will remain and forex will hold up.

Well until higher than beneficial interest rates cause the UK to go into recession that is when the BOE will panic just like the Fed.

The problem with the major economies is that they are built on boom and bust consumer led demand cycles which are driven by low interest rates.

The Cyprus economy is no different, note the recent announcements in the Cyprus Press about the growth in consumer spending fed by bank lending, with the frothy growth of GDP at 4%ish. When the property market in Cyprus tumbles in about a year/2years (because over supply of property will have become beyond ridiculous by then) then consumers will default on loans and the Cyprus economy will enter the same phase as the US and the UK.

Euroland will then continue on the way that the ECB determines and Cyprus will not be able to change interest rates and will be stuck with the forex rates of the day because it has given economic controls up to Brussels.

This is why the UK must not enter Euroland.

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Regards

John

Planet Cyprus News,

That's longer than I've owned a bank account

Hi Pete

I'm no "spring chicken" that is true.............!! That's from "One Foot in the Grave". I am at the hospital this afternoon having more tests so I hope that is not the prognosis............

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Regards

John

Planet Cyprus News,

Sorry to hear that John

I hope you didn't think I was implying you were old mate it's just I'm not old myself, not even middle aged yet, I'll shut up now before I try to fit both feet in my mouth

Hope all goes well at the Hospital mate

Thanks Pete. Shouldn't have mentioned it really, wouldn't perhaps. Had so far ECG, Full Bloods, CT Scan, MRI Scan and next is a heart monitor for a week.

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Regards

John

Planet Cyprus News,

We always use this site for up to date currency prices. It has a "magic" box that pops up on your screen but doesn't change your browser:

http://www.xe.com/pca/input.php

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Regards
Shell

I'd like to get the rate that they are showing when I change my sterling up.

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Molly

Treat others as you want to be treated

Guess it means less keo's for me then now wheres kirsten's piggy bank

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
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Todays exchange rates:-

http://coinmill.com/chart/EUR_GBP.html

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Mal

I have just received my first state pension payment into my Cyprus Bank account. I have been chasing this with the pensions people, who range me back today (surprise!), and told me that it was sent 2 days ago and gave me the amount. I have just checked my Alpha acount, and have worked out that I have got 1.2747 euros to the £! Not brilliant, is it?

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Jean

Retirement - harder work than working - But much more fun

Hi Jean,

Thats what the commercial rate was a couple of days ago, but I note it's up a couple of cents at the mo. We are "loosing" approx 20 cents to pound to this time last year, let's hope it 'climbs' back up a bit for next months pay day

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Mal

That's what has gone into my account this afternoon - maybe it was actioned a couple of days ago. I am just waiting another pension being paid - they are waiting to "set up an account" to transfer the money into, which will then be paid from there into my Cyprus account (?) They have only been "organising" this since December , and now I am waiting for my pension - typical - it will be interesting to see how much I will be paid in euros

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Jean

Retirement - harder work than working - But much more fun

Got 1.28 yesterday with Nationwide; it has gone down from 1.295 since Monday. At the beginning with the Euro in January we started with 1.345.

Disappointing and a bit worrying really. But what can we do? Nothing me thinks.

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Fiona

Wish we had got that Fiona - we changed Sterling up yesterday at Laiki Bank and got 125.5

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Molly

Treat others as you want to be treated

Molly

Don't think our rate will be much better there goes me keo's

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Life is short! Break the rules! Forgive quickly!
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Hi Frank,
I haven't bought any "Keo's" for a while but cheapest way is to pay for 12 bottle's and crate at the big supermarkets (Used to be less than 2 Cyp £) and the .65 of a litre Bottle was only about .55 cents each

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Mal

Hi Mal

Cheers for that bit of info and will look out for them as usually by the large tinny's

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Life is short! Break the rules! Forgive quickly!
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You can also buy 'Carlsberg' & 'Leon' the same way

If you are here (Paphos) regularly once you bought your crates and bottles, just exchange for the beer/lager, cheaper and not filling the waste dumps with tinnies

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Mal

Frank - check out the Post Office and M&S rates before you come

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Molly

Treat others as you want to be treated

M & S coming up best at mo so will go tuesday as latest i can due to work molly.

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

Frank - why dont you bring Sterling, cos normally you do get a better rate over here.

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Molly

Treat others as you want to be treated

Molly we will be pushed for time as car comes in morning after we arrive and will pay cash

Ps i could always curb maggie wine and save a few cents for me keo's lol..don' tell her

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

Hahahah Naughty, naughty.

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Molly

Treat others as you want to be treated

SSSHHHHHHHHHHHHHH

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

We brought all sterling with us on our last visit to Cyprus a month ago and we certainly got a better deal in Cyprus. Actually we used the exchange place near Alexandra the Great but it was always a lady who served us and never a man also there were never any charges.

Jan

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ALWAYS MOVE FORWARD

Have to say I'm doing alright out of this at the moment as I'm earning in Euros but my mortgage is in sterling - payments have gone down a canny bit over the last few months!

Just been and changed enough for when we are over at M & S 1.2349

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

I popped in to the post office this afternoon ( I'm in the UK at the moment ) and their usual daily hand written notice of special offers on the Euro has gone ~ seems like there's not much they can offer on a deal for the euro at the moment .

They are still trying to flog special rates for the Dollar though

Last October I got €1.46 to the GB pound ~~ I should have bought more whilst I had the chance

Bill

Hi Bill

Always same hindsight.Not been through tunnel for while but rate was brill now cheaper to buy tesco for wine and beer

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

Pound slightly up against dollar, euro
AFP
AFP - 2 hours 9 minutes ago

LONDON (AFP) - The pound gained marginally against the US dollar and the euro in the early afternoon trading Tuesday.

Sterling rose to 1.9967 dollars at 14:45 GMT from 1.9930 at 12:38, while it rose to 1.2812 euros from 1.2796 between the same times.

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Mal