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Euro rate at moment.

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AJSUGGY View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote AJSUGGY Quote  Post ReplyReply Direct Link To This Post Posted: 14/July/2021 at 16:05
Official rate at the moment on BBC Business is 1.1747. Don't know how long it will last, till the money boys decide to sell. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 18/July/2021 at 09:08
1.166 over this weekend and should begin to slide a bit with more travelling from Monday 19th.  Ramsdens on the high street at 1.144 ... 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Richardk Quote  Post ReplyReply Direct Link To This Post Posted: 18/July/2021 at 10:46
I don't think the tourist demand will impact the exchange rate, too many bigger external factors going on. I got 1.155 last week on a transfer from Banco Bpi
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Post Options Post Options   Thanks (0) Thanks(0)   Quote cubsur Quote  Post ReplyReply Direct Link To This Post Posted: 19/July/2021 at 09:03
Has been around €1.08 for cash here, which is a wider disparity with the 'bank' rate than has been the case in past years.
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pyrman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 19/July/2021 at 17:51
Well, Richard ... it was above 1.17 a few days ago ... now it is 1.1592  .. just as Boris opens the gates ... it will be interesting onwards ... 1 % on to your imports bill .. to start ?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Richardk Quote  Post ReplyReply Direct Link To This Post Posted: 20/July/2021 at 09:46
Currencies fluctuate every second of every day markets  are open. Its been higher , its been lower but the fact is tourism currency dealing is a very small part of the global currency dealings hence will only have a minimal effect. The currency market follows all factors not just Mr & Mrs Browns purchase for their Benidorm holiday
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 20/July/2021 at 12:38
You are probably right ... pound dips every summer against the euro because of `other` as yet unidentified factors .. not millions of people selling billions of £`s .. which the biggest trader by far of the worlds biggest issued currency (Deutsche Bank) must surely react to, or lose money ?
Just the same, it may not happen this year with much smaller volume.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote AJSUGGY Quote  Post ReplyReply Direct Link To This Post Posted: 10/August/2021 at 11:26
Todays Official Rate at the moment 1.1822 Bank gave me 1.159 best rate for some time It also might go higher
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 15/August/2021 at 12:27
Yes .. 1.18 ... happy days. Time to buy a wad, I think ..
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 10/September/2021 at 17:09
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote AJSUGGY Quote  Post ReplyReply Direct Link To This Post Posted: 10/September/2021 at 19:16
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Bunnyrunner Quote  Post ReplyReply Direct Link To This Post Posted: 13/September/2021 at 10:41
Originally posted by pyrman pyrman wrote:

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.

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 11/October/2021 at 22:03
Pound hit 1.18 again for a few minutes .. 1.1766 close
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pyrman Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2021 at 21:08
Back over the hump and hanging in there at 1.1825 ..
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Algarveaddick Quote  Post ReplyReply Direct Link To This Post Posted: 20/October/2021 at 07:36
1.10 in town yesterday. HSBC rate 1.13 so buy in the UK folks...  
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