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Pound-Euro Rate

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  • 04-12-2008 3:26pm
    #1
    Mr.David
    Registered Users Posts: 1,703 ✭✭✭


    Hi,

    Just looking for some advice. I hold a euro loan but moved to the UK. the loan got me about 68p/euro as far as I can remember at the time. I have since been repaying it and watching the pound weaken steadily against the euro.

    My question: cut my losses now and take a sterling loan and pay it back at approx 1euro=0.85pounds. Or gamble and hold on in the hope that the pound will strengthen/euro weaken?

    Obviously the UK economy is in turmoil, but with Germany now in recession I feel that maybe Europe is only a few steps behind and the situation may rectify itself to some extent.

    Opinions?

    Really not sure which is the better option.

    p.s. I had to take the loan in euro at the time as couldnt get one from a UK bank as was not a UK resident for long enough.


Comments

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    #2
    Bluetonic
    Registered Users Posts: 7,588 ✭✭✭Bluetonic


    Mr.David wrote: »
    My question: cut my losses now and take a sterling loan and pay it back at approx 1euro=0.85pounds. Or gamble and hold on in the hope that the pound will strengthen/euro weaken?

    crystal-ball.jpg


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    #3
    copacetic
    Subscribers Posts: 16,586 ✭✭✭✭copacetic


    agreed with crystal ball, who knows?
    with todays bigger cut in UK and their general fiercer line on cuts, it's more likely sterling will fall further against euro, toward 90p imo. Who knows though. Currency traders aren't currently fans of either..


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