Euro-sterling exchange rate

[in the pub]

I have a large amount of euro that I need to send to the uk-in sterling. the current exchange rate is around 0.88. I've obviously been keeping an eye on it closely and in the last week or so it has dropped from approx 0.91.

Timing is crucial as i'm sending over around 30,000 euro. So here comes the question....when do you think i should send it over? now? before it drops more or does anyone think its going to rise again?

I know its probably a tough question to get a hard answer but would be very interested in hearing your suggestions or your point of view on this. Thanks

 

[adonis]

It is an impossible question to answer with any degree of accuracy. Whatever you get for it just be content as you cannot really predict the rate either short or long term.

If you must change it, do so and be done with it.

 

[mooney76]

Its not the when that you can control, its the how.

Go and check the rate with your bank. You dont get the rate you are probably looking at as that is a midmarket rate i.e xe.com. Ask your bank for their rate anyway.

Also contact currency.ie, they specialise in currency and may have a better rate plus they can set orders for you to automatically buy it sterling strengthens but leave open for it to weaken,