MSE News: Is it worth changing euros for the summer holidays now?

A question about : MSE News: Is it worth changing euros for the summer holidays now?

The euro has weakened even further over the last week and Ј1 can now buy you Ђ1.34 at the spot rate...

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Is it worth changing euros for the summer holidays now?

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Best answers:

• If Greece default you might get a wheel barrow full for a tenner...
• I just watched "The Equalizer" on Showbox........wheelbarrows full of money in this too.......and reminded me of the hyper inflation in Germany between the wars....where it took a wheelbarrow of notes to buy a loaf
• QE is supposed to introduce some inflation, due to more money sloshing around the system. So it may not be as cheap as you think. You can exchange more EUROs, but prices can also move up.
• My partner and I had been looking at a holiday in Greece this summer but we're now a bit confused as to what might happen as a result of the Greek election. It would be a Thomson holiday package
  Would it be wise to do nothing at the moment and see how things go OR now that there is a strong pound buy now?
• I think the gutters will run red with blood.and remember they have the nuclear bomb........but apart from that, NOW is a good time to buy euros.
• Given the amount most people exchange for a holiday, the extra Ј10-Ј20 (if that) you might gain is really not worth the bother.
  Better to get a Clarity card and put the holiday money in a high interest current account instead. Then pay the Clarity off when you get back and pocket a bit of interest instead.
• Just worried about tourist scalping in general. Unfortunately, the con artists and pick pockets hang out where tourists go. I hear Athens was a rip off joint even before the recession.
  The Parthenon has free entry days! E.g. 6th March in memory of Melina Mercouri. EURO12 full price, OAPs EURO6.
  Hotel and flight should be OK, but how do I avoid getting ripped off getting from the airport to the hotel?
  I suppose I could wait till retirement and do a cruise, but on-shore excursions are even more of a rip off.
• It has worked in my favour as I booked 12 months ago directly with the hotel, Advance Booking discount of 20% and returning customer discount of 5%,payable on arrival.I booked flights and taxi transfers separately.With a tour operator it was almost Ј900 more ( same hotel, room etc...)The price was fixed in Euros and I have been watching and waiting, Clarity card in hand.Just contacted the hotel and paid it today, I still have the same cancellation conditions, nothing to pay if I cancel up to 48 hrs and 1 night payable with 24hrs cancellation notice.The rate today has knocked a further Ј200 off the cost off the hotel.....the rate I get will change , it may go up or it may go down , which might be today's or tomorrows, they have done the transaction, depends when it appears on my statement., but I think( hope) it will only be small change.Need currency for small purchases and tips and got 1.3105 at Tesco yesterday( ordered/paid for online using my Tesco Credit Card, with no commission , it was 1.28 at the bureau)Happy with that too......if it goes up then I will happily use my Clarity Card for everything if it drops dramatically then will use the Euros( got extra to either use or save )....Winter Sun here I come!!!!
• If you are unsure as to when to buy your foreign currency for your holidays the solution is simple. Buy half now and the other half nearer to when you travel. This is basic "ForEx hedging" for us ordinary folk and I'm surprised we don't hear this advice all the time...
• According to the OANDA web site the euro is at a 5 year low vs the pound. So in my opinion now is the time to buy. The recent announcement of cash injections by the European Central Bank caused the euro value to fall. Also in the last 2 years actions by the UK government has increased the value of the pound vs the euro.
  In my opinion market nervousness in the run up to the 2015 general election will cause a small reduction in the value of the pound vs the euro. The only change which would cause a large reduction the value of the pound is Labour winning the 2015 general election. Expect the value to fall even further if Labour requires an alliance with the SNP to form a government.
  Buy your Euros now or as far ahead of the general election as you can manage.
  I have already bought mine
• All our passports are out of date, but the state of the Euro means Euro-zone birthday presents are looking much more interesting as the money goes further.
  When birthdays are over, what rate the Euro is at goes right back to being academic.