Pounds on its way down

[71 Trans Am]

1 Pound sterling equals
1.09 Euro

[Dominic]

That is hardly a plunge. It was 1:08 in March

[Lucky Lady]

Thanks for being the voice of reason Dominic. Why are people so negative and take such pleasure in bad news? The pound has been volatile for a few months and probably will be in future - it is not the end of the world.

[galexinda]

Looking at currency exchange transactions I did during 2020 it averaged out at 1.14.
When I moved to Cyprus in 2004 the exchange rate was 1.12.

[El tel]

Do not want to sound pedantic but Cyprus took up the euro in 2008.

Terry

[71 Trans Am]

Lucky Lady - Try looking out of your window before you shoot the messenger - This is not just about the exchange rate but it will effect the exchange rate and probably badly and I am not negative and I don't take pleasure in bad news - You would never get a job on a jury

UK stocks and pound tumble as Europe shuts borders
PA News - Dec 21st 2020 6:36AM

UK stocks and the pound sold off sharply on Monday morning, as investors reacted to fresh pandemic restrictions in Britain and news that much of Europe had shut its borders to the UK.
Billions were wiped off the FTSE 100 on Monday morning after a new more infectious strain of COVID-19 sparked panic among investors. Stock markets fell sharply around the globe amid fears that the strain could spread internationally.
The FTSE 100 (^FTSE) dropped 2% in minutes when the London Stock Exchange opened, wiping £33bn off the index.
The sell-off deepened as trading continued. The bluechip index was down 3% by mid-morning. The more domestically-focused FTSE 250 (^FTMC) index fell 3.5%.
The pound was down 1.2% against the euro to €1.089 (GBPEUR=X) by mid-morning in London. Sterling fell 2% against the dollar to $1.3238 (GBPUSD=X).
Panic spread to other markets beyond the UK. European stock indexes dropped over 3% and Wall Street was poised for a heavy sell-off. The barrage of selling came in response to pandemic developments in the UK over the weekend.

[Jim B]

Do not want to sound pedantic but Cyprus took up the euro in 2008.

Terry

Your right El Tel
.
We flew out of Paphos on 1st January 2008 and they'd changed the parking machines to Euros and we didnt have any.
Fortunately we found a parking attendant who changed out C£ to Euros.
Jim

[Jimgward]

There pretty much will be a no-deal, conformed by the flibber-flabber today

[Maggie B]

Aye but. What can you, me or the cat next door do about it? Nada, Niet, not a Scooby.

So. . . . we will all just get along with it . . . . . . .as best we can.

Maggie B

[Mirek]

Aye but. What can you, me or the cat next door do about it? Nada, Niet, not a Scooby.

So. . . . we will all just get along with it . . . . . . .as best we can.

my sentiments exactly, every cloud has a silver lining

[JimX]

Lucky lady...it is bad news as it now seems the pound always falls, probably due to Brexit, you have to remember those that actually live permanently on the island have to transfer your funds from the UK, we have no control over this, I can remember not so long back the £ was at €140!! most level headed people just knew the pound would lose it's value leaving Europe, will it ever return? who knows for sure nobody here..

[Chaddy]

Lucky lady,bad news? of course.Let me ask you this or in fact anyone reading this.
Your where about to buy your morning paper,but where undecided on which one,

One paper had the headline " movie star wins lucrative star role "
The other paper with the same named movie star had the headline " exclusive pictures inside of long married movie star caught in hotel room with prostitute "......Lets be honest,which one would most of us buy .

It just a sad fact,and the media knows it that bad news sells

[galexinda]

Do not want to sound pedantic but Cyprus took up the euro in 2008.

Terry

Indeed that is correct, but when Cyprus joined the EU in 2004 exchange rates were already being quoted in Euros as well as Cyprus Pounds.

[El tel]

Fair enough.

Terry

[Dominic]

Hang on, we can't have people listening to other people and agreeing they have a point. If you do that too much the hot air that powers the internet will dissipate and the whole thing will collapse.

[Jim B]

https://www.poundsterlinglive.com/bank- ... o-EUR-2004

This shows the exchange rate at €1.42 to the pound in January 2004. It was about €1.83 against the Cypriot pound at the time. I remember the UK pound plunged against the Cypriot pound by around 20 cents, it cost me £27,000 extra on the price of our house.

Jim

Has this cheered you up Dominic?

[Dominic]

No, I was already amused to see that the pound is currently at 1.11

However, we were buying a house hear when the Brexit vote happened, so that got more expensive too. C'est La Vie and all that.