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28 Mar 17, 03:06 PM |
#1
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Imagineer
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Are my Euroes an investment?
a couple of months ago we changed £700 into 790E and then had to cancel the holiday.
When I went to change them back I got offered £630! (We didn't take the guaranteed exchange rate because we didn't intend to bring any of it back from holiday) So I'm just thinking, if I hang on to them, will the rate change enough for me to eventually get my £700 back? |
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28 Mar 17, 03:08 PM |
#2
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Imagineer
Join Date: Oct 09
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Possibly.
Possibly not. Disney332
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28 Mar 17, 03:15 PM |
#3
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VIP Dibber
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I would keep them for a future trip.
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DLP: day trips 2000, 2003; Cheyenne Sep 2009, Feb 2011, Nov 2018; Sequoia Lodge June 2008, May 2012; Elysee May 2012, Jan 2013, Sep 2013; Disneyland Hotel Mar 2015, Santa Fe Nov 2016; Newport Bay Sep 2017, Ibis Sep 2019, Hotel NY Art of Marvel Nov 2021
WDW: Port Orleans Riverside Dec 10; SSR Nov 14 |
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28 Mar 17, 03:34 PM |
#4
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Imagineer
Join Date: Jul 14
Location: The Tiki Room.
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I never get rid of currency. It is a risk but invariably you will end up in profit in the long term.
I view it the same as Gold. You buy at what you think is a good price and watch the markets. Sometimes you make a short term loss and sometimes in the short term a big gain. But long term it's always a winner.
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"PAGING MR MORROW, MR TOM MORROW..." ''I drink Wine and know things'' DVC Owners at SSR since 2003. Multiple annual visits to America since 1976 |
28 Mar 17, 04:56 PM |
#5
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Imagineer
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The rate used when selling back foreign currency is always worse to the customer than the rate used when buying foreign currency. If you bought some euros and sold them back on the very same day, you'd end up losing out and getting less pounds back. That has nothing to do with changes in exchange rate over time.
The pound to euro rate would have to go down by around 15%* compared to the rate when you bought the euros in order to get your £700 back. (* this is a rough guess)
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DLC: Jun 1996 // DLP: Aug 2013 // WDW: Dec 1997 | Feb 2000 | Mar 2001 | Feb 2006 | Oct 2010 | May 2012 | Aug 2014 | Apr 2016 | Apr 2023
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28 Mar 17, 05:17 PM |
#6
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Guest
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28 Mar 17, 05:26 PM |
#7
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Very Serious Dibber
Join Date: Aug 16
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I'd see if any of your friends or family are going on holiday to Europe and then either pop a few notes in their birthday card or offer to sell the euros to them at a reasonable rate. Might work if they can't be bothered to search online for the best rates, wait in for a courier or walk round the high street with a big wedge of cash!
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29 Mar 17, 01:48 PM |
#8
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Imagineer
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I used the post office buy/sell rates as an example; they was around a 15% difference between them.
And, yeah, I also hope the rates don't drop because I have to buy some euros in the near future.
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DLC: Jun 1996 // DLP: Aug 2013 // WDW: Dec 1997 | Feb 2000 | Mar 2001 | Feb 2006 | Oct 2010 | May 2012 | Aug 2014 | Apr 2016 | Apr 2023
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29 Mar 17, 01:50 PM |
#9
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VIP Dibber
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I've just bought dollars off my friend at a rate of $1.26 . Win win for both of us.
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