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Euro rate at moment. |
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AJSUGGY ![]() Regular ![]() ![]() Joined: 11/April/2020 Status: Offline Points: 242 |
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Hit 1.1997 @ 0200hrs this morning
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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Official London rate is 1.1925 now ... yes, do it online, Ramsdens at 1,168 .. others better.
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Pyrman
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cubsur ![]() Moderator Group ![]() ![]() Joined: 26/January/2006 Status: Offline Points: 27294 |
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For anyone still daft enough to want to change cash here, the rate today in town was £1 = €1.095.
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Albufeira Resident
www.algarvebus.info public transport information for the Algarve |
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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no ... holding at 1.1775
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Pyrman
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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Just up-dating ... pound is at 1.17 and probably going down a bit ..
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Pyrman
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Bunnyrunner ![]() Regular ![]() ![]() Joined: 19/May/2021 Status: Offline Points: 158 |
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Yes the rate is determined by the card provider not the ATM machine. You need to have a card that charges no cash advance fees and no sterling transaction fee. You shouldn't get charged a fee using a MultiBanco machine but you will get charged 3.99 if you use a Euronet ATM regardless of how much or how little you take out.
I took out 200€ on Monday at the MB at Intermarche next to the Arte bar, I have been charged £169.43 which is a rate of 1.1804, this was using a Halifax Clarity card. According to Currencies Direct the exchange rate on that day was 1.1869 so I got only just over half a cent below the daily rate and in my experience that is quite usual for it to be just half a cent or so less.
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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Thinking of re-appraising our atm advice this week ... pound at 1.19 and after declining conversion I got 1.06 from the multibanco in Pingo Doce Worms ... the Cambio on 5 October was giving 1.10 ...
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Pyrman
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cameroncleggout ![]() Senior Member ![]() ![]() Joined: 14/September/2013 Location: Fylde Coast Status: Offline Points: 346 |
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News outlets predicting UK interest rate rise next month. So if possible, hang on a short while before purchasing you`re euros.
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cameronout
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Algarveaddick ![]() Top Contributors ![]() Joined: 27/December/2008 Location: Portugal Status: Offline Points: 5052 |
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1.10 in town yesterday. HSBC rate 1.13 so buy in the UK folks...
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Go away Duchatalet
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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Back over the hump and hanging in there at 1.1825 ..
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Pyrman
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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Pound hit 1.18 again for a few minutes .. 1.1766 close
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Pyrman
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Bunnyrunner ![]() Regular ![]() ![]() Joined: 19/May/2021 Status: Offline Points: 158 |
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Well done pyrman and good advice about not accepting the conversion. The rate on the Multibanco machine is determined by the card though not the machine. Cheapest way to get Euros when in PT is to use a credit card that has no Foreign Transaction fee and uses the Visa/Mastercard closing daily Euro exchange rate. This rate gives an almost identical rate to the quoted rates that you see in papers etc, usually only half a euro cent lower. Best examples of these cards are Halifax Clarity and Barclaycard Rewards, the latter also gives 0.25% cashback on Euro purchases. Then pay off the credit card amount a day later when you know the amount. This assumes you have online banking and card apps on your phone, tablet or laptop. As pyrman says never accept the conversion rate which will often cost you 10% and never use the ATM Euronet cash machines (blue) as they charge a fixed fee of 3.99 no matter how much you withdraw. So only use the Multibanco ATM machines which are usually yellow/orange and charge no additional fees other than your card provider's. **I am not a qualified Financial advisor, this post does not constitute Financial advice. You need to accept personal responsibility for all your own decisions.
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AJSUGGY ![]() Regular ![]() ![]() Joined: 11/April/2020 Status: Offline Points: 242 |
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Strange when on the day they report that economic growth in the uk has gone down in July the £ rises against the Euro you would have thought it would be the other way round.
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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So, I bought a wad .. pound 1.17 now .. manage to get 1.15 ... you will lose maybe 6 euros per 100 using Albufeira exchange shops .. the multibanco will not be much less than 1.14 ... decline any conversion there.
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Pyrman
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pyrman ![]() Top Contributors ![]() ![]() Joined: 06/December/2012 Location: Kilmarnock, Sco Status: Offline Points: 1135 |
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Yes .. 1.18 ... happy days. Time to buy a wad, I think ..
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Pyrman
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