ollyshorey

Can anyone tell me, some good websites that will fix currency rates for you.

I ask this, as the only one I can find is

Robertio

iTrader: (1)

The one I used was:

mutant_matt

The two that I use are:

NeilT

Hi

I used currencies direct and they were fine. I compared their rates with most other companies and they were all within a point or so of one another. Whoever you use you'll never get what the FT shows (usually within 5 points tho).

Neil

BT52

I found currencies direct were good for an instant rate, but if you want to secure a rate for the future then use exchange-direct.

Currently looking at the rate every 5 minutes to try to get it just right...

ollyshorey

Top bo11ock guy's.

I have been searching the web for hours, this helps a treat.

Anyone want to make a forecast of the Euro in six months time ??. I rekkon, it is quite nice at the mo, and will fall..

Although I bet if I fix my currency it will go the otherway. Sods law I suppose.

chiark

Olly, if you're not a gambler fix now and you know what you're going to be paying for the car...

That's what I did. "Cost" me about £200, but on the other hand I knew what the car would cost me when I ordered it!

(NB: ask a qualified financial advisor - I'm an idiot, etc...)

glen4

When buying my car from Belgium I fixed the rate six months beforehand using a forward exchange contract arranged through my local branch of Lloyds bank (with whom I have a current account). I can't remember the exact rate but it was so close to the commercial rate on the day as to make no differance. Transferring the money cost about £20 and was all done by filling in a form five days before picking up the car. BTW as I wasn't sure when the car would be delivered ,(just given september as delivery) I fixed the rate for the whole of September. The whole process was extremely painless.
Hope this helps you out.

Glen

BT52

Hmm now I just tried my bank (first direct) and they beat all of them and STILL give interest (not a lot though)

Flat £20 handling fee for the final payment in euros.

Pound did good today, but now I find a cheque hasn't cleared yet!! Argh!!! Have to wait for Thursday.


Ohh hang on a mo. Nope, seems that currencies-direct suffered a data lag, phoned them again and they beat first-direct by over 0.7 Bfr. (That's almost £100 for my car)

[This message has been edited by BT52 (edited 13 March 2001).]

ollyshorey

Decisions, decisions ...

I have saved up only 55% of the car, so looks like I will give someone a deposit, and leave the rest in high interest account.

I wonder if this foot and mouth business will effect the rate ??

ollyshorey

Hmmm,

Didnt think even to try the bank.

I was trying also to find some nice graphs of Euro's to the pound over the last 2 years. I sort of found 1 on

BT52

Okay I have some figures

currency direct offered me 63.92 BFR per pound (spot rate)

first direct offered me 63.42 at the same time.

Over the last few days there has been about 0.5 differece between them.

However, first direct will pay you INTEREST on the currency. So you can buy the amount of francs you need now for the known rate and still earn interest without having to go for a future rate which is always a bit less.

By my calculations the interest earnt on £11,000 at first direct's rate of 2.43 should be anound £115 for a 5-6 month wait for the car.

The better rate offered by currencies direct however will only save me about £95.

So there's little in it really.

glen4

When using a forward exchange contract with Lloyds (see my earlier post) I didn't pay anything until the money was transferred (about 5 days before picking up the car) therefore I was able to leave the money in a high interest account until the last minute.

glen4

Olly
Have you ordered the car yet? I paid my deposit on my credit card - 25% of the price and I got a good rate on that. If you have not ordered the car E mail me and I will give you my contact's details in Belgium, they were really helpful
regards

Glen

S

my post in the for sale section might be of interest - a bulk buy of MY01's.

regards

S