best time to exchange pounds to euros

S

Sim.Cas

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Good Morning,
I used to live in the UK and I saved less than 50.000 euro.
I moved back to Europe a couple of years ago and this money is still in a British Bank account.
How long do you think guys I should wait in order to get the best value exchange rates??
I'm not an expert in this area, what would you do if you were me??
Thank you

Regards
 
There's no way to answer that question without getting into random speculation. Just transfer/convert the money when you need it.

How to decide when to buy a foreign currency

Good evening folks, As someone who regularly transfers money between Ireland and the UK, I am interested in trying to get the best value exchange rates. I noticed that a number of platforms allow you to set a rate alert so that you are notified when exchange rates hit your ideal rate. My...
www.askaboutmoney.com
 
Sorry - it is not clear to me what the issue is? You have € savings in a UK account or you have £ in the UK and you want to exchange that to €?

If you are looking at doing a foreign exchange (FX) transaction then you'll be better off opening an account with one of the better known FX companies (I use a Dublin based one that is regulated but I am not sure if I can mention the name here). Once the account is up and running you could do it all in one go or perhaps break it down into smaller tranches so as to smooth your FX rate over multiple transactions - this also reduces the risk of having all your cash exposed to the FX provider. And make sure that you execute the transactions during normal working hours and not late at night or weekends when the FX markets are closed or illiquid.
 
If you want to convert it all into Euro, but are in no rush, then i would set up an account with one of the FX companies (To get the best rates), and convert the money over a period that suits you.

E.G.- £5,000 per month over 10 months, or whatever.

This will spread the risk of you hitting a bad exchange rate at any given point in time.

You will in effect be getting the average rate over the period you select.
 
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