Pound-Euro 2016

[Jimbo]

Yes - but the Tory lead was 20%-17%

TravelFX down to 1.1276  !!

[Waspman]

Dread to think what the exchange rate is in Ag Stef at present, with commission deducted of course.

[Jimbo]

A long period of uncertainty looms, and that means a continued devaluation of the pound. TravelFX is 1.118 currently.
Just how long the Tories can stagger on with a minority government is anybody's guess, but an autumn election looks highly probable. "Strong and stable" has turned into "Wrong and unable," which leaves Brexit negotiations in chaos. The pound is unlikely to suddenly gain biceps and get back to pre-referendum levels.

How fortunate we are to be holidaying in Agios Stefanos, with it's amazing ability to keep prices down, rather than (say) Paleokastritsa, where I shudder to think what a packed of biscuits costs!

[Tredegar Boy]

From an exchange rate point of view that was a result no one wanted. I'm feeling smug for buying euros back in April at 1.1818 but I only got a few. Heading to San Stef 2 weeks today so just have to suck it up - far less smug now. TravelFX 1.1226 at time of purchase but as Jimbo says the value for money in San Stef is immense compared to UK. Spent 3 days in Tenby back at the end of April and excluding the accomodation spent £350. We had a great time don't get me wrong but thats a lot of dosh for 3 days.

All hail San Stef.

[Jimbo]

Utter confusion has done the pound no good. It's teetered around TravelFX 1.12 - but currently at 1.1157

I'm thinking of taking some Monopoly money with me - might get a better rate! (Actually, an Ag Stef Monopoly board would be fun)

Sorry to those who hung on waiting for the election to pass.

[Tredegar Boy]

Great idea Jimbo. So how would this monopoly board look?

What would replace the 4 stations.................supermarkets perhaps or the 4 biggest places that do live music. I assume the taverna's would replace the streets. San stef travel could replace one of the utilities I guess with the harbour as the other. The church could be a community chest.......

[Jimbo]

Don't suggest putting any tavernas on, or arguments will rage here about which they should be and their board value. Put Romanza on The Old Kent Road spot and you'd be in for a lynching!

As you rightly suggest, San Stefano Travel should have a unique spot reserved for women of exceptional beauty and intelligence - beyond value. Instead of "Go to jail..." I suggest Go to Sidari.

[Tredegar Boy]

"Go to Sidari"......brilliant.

[Jimbo]

In case you haven't noticed, the £€ rate is dire. TravelFX is currently 1.1167 and most airports are at about 0.9!!! This follows Mark Carney's statement that Brexit is a disaster for the economy, which is already in a bad way. Total chaos in Theresa May's attempt to forge an alliance with the DUP isn't helping (seems they want over £2 billion).

It appears we're stuck with this for the long-term unless we (a) cancel Brexit (b) remain part of the Free Trade Area. As the Chancellor said, nobody [intentionally] voted to be poor - but unwittingly, they did.

My personal view, which many may disagree with, is that we accept leaving the EU (which was all the referendum asked) and remain in the Free Trade Area. That way Brexiteers get exactly what they voted for and Remainers get zero tariffs and the economically vital free movement of people. That would also solve the Irish border problem. Such a deal would see the pound strengthen enormously.

[Jimbo]

It's a bit boring, really. The base rate is around 1.13 and TravelFX wavering about 1.12. It's hard to think of anything that's going to change it radically in the foreseeable future, apart from a major re-think on Brexit. With the Conservative higher echelons now clearly divided, uncertainty prevails.

[Jimbo]

Reviewing my credit card after the trip this summer, the sad news is how bad the £/€ ratio remains. You're lucky to get about 1.1 - and it's been worse. The euro is very resilient and economies in the eurozone are out-performing the UK economy. We are at about parity with the euro, and it looks like it's going to stay like this for several years. Sad.

[gillie]

Good thing we used cash most of the time!! Got it before it had gone right down.

[Jimbo]

There are no signs of the pound gaining much against the dollar or euro in the near or more distant future. TravelFX is 1.0893 and has been at around this level for quite a while.

All observers comment that the causes of the weak pound are (a) poor economic performance and (b) no signs of anything positive in Brexit negotiations. Actually, no signs of anything in the negotiations.

For once, the Greeks have a bargaining ship: they are floating the idea that they will not agree a final settlement unless they get the Elgin marbles back. I have long been of the opinion that the marbles should be returned, and met Nana Mouskouri at a campaign meeting in London. (Her mother, incidentally, came from Corfu). 

[Jimbo]

I suppose most people will have been abroad this year. For those of us hoping for a few extra Mythos in the autumn the news is not good.

The pound reached an 8-year low against the euro this afternoon. The Interbank rate is now 1.0839 and TravelFX is 1.0702 (if you buy £700)

I'm annoyed.

[swedebasher]

This nothing to do with Brexit as the euro has improved against ALL currencies. Eurozone seems to have got itself into gear and growth increases and unemployment has come down even in Greece.