San Stefanos Online ~ North West Corfu
Welcome to San Stefanos (NW Corfu) => San Stefanos news and views => Topic started by: Jimbo on March 17, 2016, 12:44:40 PM
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I notice various people have started the usual discussion on Facebook about whether it's better to buy Euros now or wait and see if the rate goes up.
Today (March 17) TravelFX's rate is 1.245.
Before Xmas it was over 1.4 - that is before Cameron announced the referendum date in February. The referendum has created a climate of instability, so it's very unlikely that we are going to see the rate go much higher.
HSBC and other banks are predicting a potential drop of 20% in the rate in the event of a Brexit vote: http://www.theguardian.com/business/2016/feb/24/brexit-could-wipe-20-percent-off-the-pound-warns-hsbc (http://www.theguardian.com/business/2016/feb/24/brexit-could-wipe-20-percent-off-the-pound-warns-hsbc)
The net result of that would be (on today's rates) a new rate of 0.996. As a consequence, we could expect a 20% increase in the cost of a holiday.
The conclusion for me is that it's probably better to buy Euros well before June. If it goes much above 1.3 I'll get some.
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About time we got a good rate for visiting the UK..lol
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Spot on. You'll be an effective export! Congratulations.
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Yammas
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Expect the best,prepare for the worst,capitalise on what comes.
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Nobody knows, you pay your money and take your chance, simple as that.
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I suspect that as we approach the referendum the rate will drop. The finance world dislikes uncertainty.
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Yes - Waspman is right in general - but this year is different.
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Just got back from Spain, I got 1.29 - 1.31 exchange rate using a no commission credit card, beats anything available in the UK. Even got 1.30 from an ATM.
Ask Jimbo, he knows.
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As predicted, the pound:euro rate is oscillating around the 1.26 level. I get a daily newsletter from currency traders IMX, and they're saying that the uncertainty prevailing until after the referendum will keep the pound at around this level. So it really does look as though this kind of mid one-point-two rate is what we're going to get, at least until late June.
What happens after June 23 is anybody's guess. Credit Swiss predict that a Stay vote would see the pound rise against the Euro to about 1.4, and Goldman Sachs predict that a Leave vote might see the pound drop by 16%-20%.
Interesting gamble?
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Well thats good for us then.we can benifit when we are over in UK in May..
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This morning (April 7th) IMX report:
This morning the Pound has touched new lows against the Euro falling below 1.2350 for the first time since May 2014. The Pound is having a torrid time against all its major counterparts and shows no signs of recovering. The current 'Brexit' debate is being priced in the market as a UK issue and could see the Pound fall further!
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Oh no Jim don't tell me I've missed May,thought it was still April!
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Whoops! Ta - changed it.
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Sidari ATM today Saturday 1.13..........not good but needed the euros to pay the phone bill........
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1.13!!!!! S@#t
:'(
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Standard and Poors, the major rating agency, is predicting that the UK will probably lose its AAA credit status in the event of a Brexit. That's not likely to inspire international finance to buy sterling. I think we're stuck with this until June 23/24. When I say "probably" we have to remember that S&P actually set the rating, so it's pretty much a statement of intent.
Another side-effect is the sudden extreme rise in Thomson prices over about 48 hours. On Thursday, two weeks at Barras from September 23rd was £409 from Leeds-Bradford. It went up on Friday and is now (Saturday evening) £593. That's an increase of £184. LBA is about the cheapest in the North at the moment. Barras from Doncaster is now £597. Little Prince is £823. This is end of season prices above previous high season prices.
I've seen a price change like this before. Maybe it's the popularity of "The Durrells," maybe it's because a lot of people who might normally to the Aegean are choosing the Ionian islands because they're as far as you can get from Turkey, and perhaps it's because TUI is a German company and ultimately income from Thomson (UK) has to be translated into Euros. Who knows?
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Think its just greed..travel companys here are still offering big discounts on holidays includind TUI..And the bombing dosentseem to have affected travelers...
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I agree with Rilo57 - pure greed - - that may stifle sales to the village via Thomson, but loads of other options, and Thomson may have to offer deals at the last minute to save their sales figures, so eyes peeled.
Back to the thread now.
We are going on holiday the week before the voting, so seeing the uncertainty in the rates, we decided to take a gamble and buy the rest of our Euro's now, which listening to all of your predictions seemed wise.
I bought a lot of Euros when it was at a high last year, on Thursday 26 November 2015, when 1 GBP = 1.4242 EUR, (I got just under that actually @ €1.4198).
so I have a load left as I bought for 2 holidays worth, spent a fair amount in Tenerife in March, and have just under half left, so topped up today as it seems prudent to do so right now.
I got a great deal at today's prices, (not as good as a couple of weeks back unfortunately), with moneycorp, inc. free tracked delivery, of 1.2264, so if I split the difference between the whole pot it's still quite good.
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TravelFX is offering 1.225 tonight. Like you, we have nearly enough from last year. Most financial commentators are saying that in the event of a Stay vote the pound will rise, and in the event of a Leave vote will drop even more. So it's the same old gamble, really.
Of course it's greed. That's how Capitalism works. Very little of the money will go to the local economy. It'll all go back to normal in a few weeks. Meanwhile I amuse myself by imaging the faces of some of those who booked to go to a charming island where the locals ride donkeys when they arrive in Kavos!
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Pound jumped today after higher than expected inflation figure, Thomas Cook offering 1.22 if you reserve online so I am tempted because the pound will likely fall again as the referendum approaches.
Andy
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TravelFX is 1.2280 at the moment. Mid 1.2s is about the best we can expect. Might hang on for a bit. As Gillie won £8.35 on the Grand National this could be our lucky year.
Screw Thomson. Booked today with Jet2 and the utterly wonderful Lesley (http://www.corfuselections.com (http://www.corfuselections.com)) for three weeks in September. Flight time back is crap, but we don't care. The money goes to a Yorkshire airline and Corfu, not to Berlin.
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Thank You Jim - glad I could assist......3 wonderful weeks ........ 8)
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The Pound:Euro rate is fluctuating almost hour by hour. Buying travel money is now stick or twist. Today the Remain voters are about 10% ahead in the polls, which may help the pound. That could change tomorrow. 65 days to gamble!
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Or, we could sit back, relax, reflect upon the good run for our money that we've had over the last few years, and try not to fret too much. A few years ago Sterling was weak against the Euro, but once in the village everything still seemed to be pretty good value.
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Looking from the other side of the table,the news here is that the UK would benifit far more if they stay in the EEC..not just currency rate but across the board realy..dont ask me to go into detail as it dosent interest me that much..
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The Euro was 1.27 today -
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The pound is at a 2 month high today - Interbank rate is 1.29 - cash on TravelFX is 1.262
This morning's IMX newsletter says:
Over the last few days it looks as if the vote for the UK to stay in the Eurozone may be what we see in June, and in line have seen a miraculous recovery from the pound across the board which still looks to gain further. GBPEUR hits 1.2900 which is almost a 2 month high
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Thank you Mr Obama.
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Of course, there's still a lot of water to flow down the little stream and under/over/around the little wooden bridge on the beach before June!
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1.292 on travelfx today
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The pound has shown a bit of strength over the last couple days. Interbank rate is over 1.31 this morning. TravelFX currently 1.2821.
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The markets are clearly happy that the Remain camp are winning
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(https://c8.staticflickr.com/8/7372/27262973375_838017ff06.jpg) (https://flic.kr/p/Hx8Sa6)ex-rate (https://flic.kr/p/Hx8Sa6) by Andy Davies (https://www.flickr.com/photos/zedzdead/), on Flickr
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The pound weakened significantly overnight as a result of some polls showing a swing to Brexit.
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No change from yesterday at TCook.
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Bit of a surge in the pound this morning as a result of polls showing a swing back to Remain. Worth looking at if you're going soon.
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Must check that out Jimbo, going on 1st July 8). Can't wait to get away from this awful weather and see our old friends (and young ones ;D)! Karen
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Bought some euros today in Thomson shop, where we are regular customers and got 1.2759. They will price match sometimes, for regular customers, with Tesco online. So pretty happy with that. Not sure what will happen after tomorrow though!!
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1.20 in resort yesterday but it was 1.27 in sidari
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Got most of ours on Weds in M&S for 1.277....wish I'd got them all now!
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It's just dropped to 1.05 on TravelFX. I hope the turkeys who voted for Xmas have plenty of euros under their mattresses!
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Banks are saying here pond will drop % 13 against the euro...dont know how true that will be
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Stupid text.....pound...
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The pound/euro has dropped slightly less than predicted because the euro has dropped as well.
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Do you think it will pick up again or keep dropping?
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Who knows? It seems to have stabilised a bit over the morning. TravelFX has gone up from 1.05 to 1.2184.
I'd be surprised if we anything like the pre-Xmas 1.4 for a very long time.
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yes, everything plummeted this morning (I didn't dare work out how much my shares had lost!!) but has gradually been picking up during the day
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Once things have settled down and our political classes get back to doing what they are paid to do the exchange rate can get back to fluctuating within more normal parameters. It's 1.23 at the moment which is what it was back in April.
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Glad I bought the rest of mine at the beginning of the week when it was 1.28 with travelfx, To be fair it has not dropped as low as it was thought.
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It did recover after the Bank of England discovered £250 Bln available to keep the banks aflot.
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Just dipped under 1.20 - no sign of recovery
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TravelFX 1.19
It would be lower but the euro is seriously down against major currencies apart from sterling. IMX is predicting further falls. That will, inevitably, be dismissed as "scaremongering."
Welcome to this Brave New World.
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Our financial dept was today saying pound is going to go lower and if anybody needs sterling now is the time to buy..
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Brave New World Jumbo!? I don't see what's brave about it, common sense to me. As for the New World bit the euro was 1:107 in June 2011 1:114 in July 2013 nowt new. Since 2008 nervousness in the financial markets has become the new norm.
I think people need to calm down a bit and I don't mean you Jimbo.
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If Remain had won the pound would be 1.40 against the euro now.
This Brexit is a disaster for my holiday plans and will cost me an extra £500 going to San Steph and Lanzarote during 2016.
Jimbo, we agree on this one, it's a bloody nightmare that can only get worse.
Andy
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I think it's a case of United We Fall!
As I said earlier, the euro rate is not a particularly good indicator because it has had a devaluation against the dollar as well. Anyway, this is not really the topic to debate the rights and wrongs of Brexit apart from how it affects people buying holiday money. The fact is that the UK has now lost its AA+ or AAA rating by most major credit agencies. Given the vast economic clout of the EU, I suspect that the euro will recover more quickly than sterling, in which case the rate will get worse.
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Tis true tis pity tis true
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Ah well - If we're going to start quoting Shakespeare, Polonius goes on to say:
"For this effect defective comes by cause."
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Fair enough
Never had this problem with the old drachs
Let's put things in perspective - I'm just going to have go down to 10 star metaxa
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I feel your grief!
What it means in practical terms is this: If you booked an apartment costing €500 in November it would have cost £357. If you booked it now it would cost £423.
I'm glad that I'm not going to the USA this summer. My brother (who lived in Florida) died recently, and fortunately his step-daughter was able to manage affairs there. The pound:dollar ration is awful and probably for several years to come.
So the bottom line is, despite a very unstable financial climate, San Stef is a far better deal than Florida. Yammas!
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Could someone give me an idea of the current exchange rate in San Stefanos please. Thanks
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It looks like we're stuck with a not-very-impressive pound/euro rate for the foreseeable future. The latest post-Brexit economic figures are pretty dire, and the Interbank Rate is down to about 1.18, which means holiday money is below 1.17.
If you bought £1,000's worth of euros in November and bought the same now, you would be about 95 bottles of Mythos worse off today. There's a sobering thought!
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Just returned from Agios(San)Stefanos, the local exchange rate in shops etc varied from 1.13 to 1.15, all minus 2% so very poor indeed. Better to bring euros from the UK
The rate on my "specialist" credit card was 1.20 from an ATM, with no charges/commission whatsoever.
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Quite right. The rate went down a few points overnight. Interbank rate as I write is 1.1821
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It looks like we're stuck with a not-very-impressive pound/euro rate for the foreseeable future. The latest post-Brexit economic figures are pretty dire, and the Interbank Rate is down to about 1.18, which means holiday money is below 1.17.
If you bought £1,000's worth of euros in November and bought the same now, you would be about 95 bottles of Mythos worse off today. There's a sobering thought!
Guess we'll just have to drink less :o
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I used my santander account on saturday...got€125.45
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I used my santander account on saturday...got€125.45
Credit card from ATM Rilo?
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No.was paying restaurant bill.today looked on my on line banking and it showed rated i got.
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No.was paying restaurant bill.today looked on my on line banking and it showed rated i got.
But can't use in an ATM unless it's the Santander Zero credit ard
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Can use it in all atm machines..use it here in Belgium, used it in Germany in june..just a normal visa card..
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Differs than the Santander UK card then, but a good bank
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What rate were you getting? 125 doesn't make sense!
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Paid restaurant bill here in Belgium with my english santander card..so when i looked at my statement the rate they gave from pounds to eufo was 125.45
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It is a santander uk card waspman, and was renewed in december gone
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Let's assume it was 1.25 etc - that's way above the base rate. On Saturday the Interbank rate was 1.19. Maybe they're going to charge a lot of interest and fees.
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Dont know jim but thats what it said, i was very suprised also....was happy as rate has been so low..
how did you enjoy Tsaros .?
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Tsaros is lovely. My calf muscles are recovering!
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Ha...yes a bit of a pull up from juice bar..we are off tomorrow...peli&marias here we come
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What rate were you getting? 125 doesn't make sense!
Agree Jim, Santander is my bank. I have Santander 123 debit card, 123 credit card and Santander Zero credit card. Both credit cards are commission/charge free, was getting 1.19 - 1.20 only 2 days ago in San Stef. The Santander gold debit card cannot be used abroad without incurring charges, the exception being in Spanish territory where it is commision free.
I also have the Halifax Clarity (like you Jim) and was getting 1.20 from the ATM, but paying off online quickley so as not to incur interest charges. That proved to be better than the 1.12-1.13 (after their 2% commission) which local outlets were offering.
Cash can also be withdrawn on the Santander Zero credit card, commission free, but is unfortunately no longer available.
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Guess i am lucky then..but its in black and white on my statemet...
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The pound/euro rate continues to get worse. The Interbank rate is down to 1.1692, and TravelFX rate is 1.1545
It's hard to see the probability of much change for several years, I think. The economy is not doing well, the Bank of England has cut interest rates, the uncertainty following the Brexit vote has no reason to change. San Stef remains very good value, of course, but not the wonder it was. In November £1,000 would have bought 1,400 euros - now it will buy 1,1545 euros. That's about 246 euros you can't spend.
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And it's still dropping. Interbank rate down to 1.1642 - TravelFX at 1.1474
Predictable - but Oh Dear!
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The pound has strengthened a little, with the Interbank rate today at 1.1718 - which means dosh on TravelFX has improved to 1.1566
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1.1748 as I do this.
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And still slowly rising...
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I've noticed it gradually increasing the last few days. Is this a trend,or should we take the plunge and order now for September?
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Barclays are forecasting the pound/euro rate to rise to 1.30 by spring 2017.
Today the bank rate is 1.17 and you can get nearly 1.15 by ordering on line at Thomas Cook.
Maybe the worst is behind us?
Andy
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Don't get too excited - rate dropped to 1.1686
Duh!
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Went up!!
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Yo-yo. Down is the new up!
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1.17164 Today upward trend at present
Pound to Euro Exchange Rate: Forecast for the Week Ahead by Poundsterlinglive.com
The pound to euro is in a short-term uptrend after positive data from the UK dispelled myths the economy was going to lurch into a chasm after Brexit.
The GBP/EUR pair has hit highs of 1.1783 during trading in the previous week - a far cry from the 1.1457 lows of the 16th.
The pair is now in an established short-term trend higher, with peaks and troughs on the up.
As a result, we now see the pair poised to move even higher, with a break above the 1.1783 highs confirming more upside to a target at 1.1845 where the monthly pivot is situated and likely to prove a tough obstacle to further gains.
From a data perspective, in the week ahead the GBP/EUR pair, will see significant data from the Eurozone in the shape of August inflation data and out of the UK Manufacturing, Services and Construction PMIs.
Analysts at Credit Agricole see the euro as well supported, and likely to continue to be so:
“The EUR has been well supported of late. This appears to be on the back of stable ECB rate expectations and reduced sensitivity to risk sentiment. Regardless of inflation expectations as measured by 5Y inflation swaps being close to historic lows, we see limited scope for the ECB to consider a more dovish monetary policy stance any time soon. This is especially true when it comes to interest rates.” Said the French lender in a recent note.
For the pound, analyst Bo Jacobsen at Nordea Bank, is expecting a slight recovery:
“The August manufacturing PMI will show whether activity deteriorated further or recovered after the slump in July, which followed the Brexit vote in June. We expect the PMI to rise to 49.0 from July’s 48.2, which was the lowest since the financial crisis in early 2009.“
Overall the euro appears to have limited downside due to a combination of potentially lower global risk appetite from falling commodity prices, a large current account surplus and the lack of ammunition still available to the ECB with which to ease, from a purely fundamental viewpoint, therefore risks remain marginally tilted to the downside for the pair.
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It all makes sense now.
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Soothsayers are all very well! Today's Interbank rate is 1.1790 - Euros on TravelFX 1.1621
The Euro rate does not really reflect the wonderfulness of GBP - it reflects the ratio of the value of the pound against the Euro - and the Euro is slightly down because German inflation rates were slightly down. The GBP/$ rates remains appallingly low since the Brexit vote - and that's what we buy oil with.
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I always buy Euros at Thomas cook, no commission and no hassle, today they are offering 1.16, the question is will it rise further? I have based my late September holiday money on 1.15 so anything above this is a bonus. I wonder if Jimbo is hanging on for an even better rate? What do you reckon Jimbo?
Andy
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Duh! Forum behaving badly. Will try tomorrow.
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The pound went up a bit against the euro and then went down. The interbank rate briefly peaked at over 1.19 and then dropped today to 1.183.
Euro cash is around the 1.1665 level as I write. This seems to me to be the level we can expect in the foreseeable future. So be it.
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Despite prophecies of a massive surge in the pound, the post-referendum doldrums continue. The Interbank rate is currently 1.646, and TravelFX is selling at 1.1492
The perils of buying cash at the airport were clear when we flew out: TravelX at Leeds/Bradford was selling at 1.05 - which is pretty close to parity!
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Let's face it - the rates are dire. Following the PM's Brexit date announcement the pound went into what IMX currency traders described as "a further plunge into the abyss." The Euro is also getting stronger. So tonight TravelFX is offering 1.1183 and TravelX 1.1062
Obviously, most people will be looking ahead to next year. At the moment it looks like Tasty Corner will be doing well!
With a thirty-year low against the dollar we are bound to see fuel and other costs rise in the UK.
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It's desperate Jimbo, managed to get my Lanzarote holiday money at 1.13 on Monday before the pound went into free fall.
Hope something turns up before next spring otherwise I will be joining the que at Tasty Corner!
For those of us who like our foreign holidays Brexit is a disaster.
Oh well, I hear Skegness has a good beach.
Andy
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The only thing that drags Skeggy from the fifties to the 21st Century is the huge offshore wind farm!
I can't see any reason why the pound will strengthen any time soon. Currency traders hate uncertainty. Theresa May's announcement that she'd trigger Article 50 in March was clearly designed to increase the Tory vote in the local elections. So far, that's all anybody knows. IMX also said "This could be the end of the pound as we know it."
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OMG just when you thought it couldn't get any worse the pound this morning collapsed following aggressive selling in Asia, at one stage reaching 1.09! It's since risen to 1.11 but this will still imply a bank exchange rate well below 1.09.
At this rate the pound will soon be worth the same as a Zimbabwe dollar!
Forget Tasty Corner next year it will be too expensive, instead I foresee forum members dividing up a loaf of bakery bread while watching the Eastern Europeans living it up at the Little Prince!
Andy
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TravelFX now selling 1.09 - which is close to parity. Duh!
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http://www.bbc.co.uk/news/business-37609114 (http://www.bbc.co.uk/news/business-37609114)
It's not quite that bad on TravelFX - 1.09 - If anybody can think of any reason why it might get better I'd be interested to hear it!
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The world of currency traders remains a mystery. As you may have noticed, the pound's been bobbling around at about 1.1 for a period.
TravelFX struggled up to actually selling euros at 1.1 today. That was, apparently, because post-Brexit-vote cost rises are starting to emerge and are now steadily increasing, with fuel the first rise. So we seem to be looking at at least a 2% increase in the cost of living next year, and possibly up to 5%.
In terms of holidays, we're all obviously now focused on next year. Most forecasts indicate that we're not likely to see the pound strengthen over the next two years or so, so it's possible to work out potential costs now. As the pound sinks the euro is rising. We can reasonably assume nearly pound-for-euro in 2017. So an apartment costing a typical 500 for two weeks will cost around £500 - it would have cost £446 at a rate of 1.12 and £442 at 1.13
Everything's going to cost more. But tavernas and traders in Agios Stefanos have tried very hard over many years to keep costs down. Try going to Kassiopi or Paleo and see how much it costs. Given their escalating tax burden, I wonder how long they can sustain this.
So - to be positive - Agios Stefanos is likely still to be extremely good value for money.
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As you may have noticed, the euro rate is still rubbish. But sterling did climb by two points yesterday after the High Court judges ruled that Parliament must agree to any triggering of the EU exit.
So, as I write, the TravelFX euro rate is 1.1115
No comments from here. But I think it's obvious that cheap holidays are extinct.
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Good value holidays may not be though.
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Just booked for two weeks going 8th Sept, 482.00 each flying from Norwich. Can't be bad less than we paid 2 years ago!!
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Silver lining if there is one post Trump is the rising euro. 1.15 plus at the moment.
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Yes - the pound has gone up slightly more than the euro in the last twenty-four hours as all currencies look stronger than the dollar. As I write it's 17:40 GMT and the Interbank Rate is 1.15 and cash on TravelFX is 1.134
The yen and the euro are apparently the strongest currencies at the moment.
Of course, we're still a long way from where we were a year ago, when £1,000 would get you €1,400
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Hi Linnetman,was that for a package or flights only?
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We are just back from visiting family in uk and cost us €1.12 to the £....was last may since we where over and have noticed a rise in prices of various items.but also noticed more British products available...or are we just dreaming?
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It's wobbling around all the time as the money traders try to make sense of the implications of Trump + Brexit.
Currently the Interbank rate is just over 1.155 and TravelFX selling at 1.1450
I really don't know if there are more British goods in the shops. We tend to buy local vegetables, meat, and so on anyway. Our local butchers can tell you which farm the meat came from! But I think (and I may be wrong) that we will have to see an increase in UK goods if and when we leave the EU because imports from the continent will be inevitably much more expensive. The cost of computer components is already rising steeply (up to 20%). At the moment we are still in the EU and therefore in a tariff-free zone. This will change unless a miraculous and improbable deal can be done with the EU. I expect the cost of wine and other stuff we can't adequately produce locally to rise, along with fuel. Today I looked at Thomson's prices for next year, and they are not a pretty sight.
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Hello Dupnica,
It's for package staying at Romanza. Booked with Thomson.
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For some reason Romanza prices seem to have gone down! Maybe it's the hill.
Anyway -the pound has dropped again. Here's what IMSFX traders say today:
"The Pound was the best performer last week following the US Election results but has since tumbled cementing its status as one of the worst performers in 2016.
Sterling tumbled, paring three days of gains after the Republican candidate became the US president-elect. Sterling was the surprise winner from Trump’s victory as concern that political tension is on the increase outside Britain relieved the pressure caused by the June vote to quit the European Union.
For the UK today it is a very light day in terms of Economic data. Teresa May will speak at the Lord Mayor’s banquet this evening."
TravelFX is 1.1453
My guess is that planning a DIY holiday this is about the rate we can expect next year.
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I see Sterling tumbled today from 1.1607 to 1.1632 against the Euro.
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I can't see it changing much for a long time, if ever. The next serious landmark will be the Supreme Court's judgement on the legality of the PM triggering Article 50 without the consent of our elected representatives. The weak pound is causing a quite big increase in prices in the sterling area, so disposable income will be less for many people. All a bit worrying for the holiday industry.
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"Our elected representatives" Jimbo had their say when they voted for the referendum in the first place. Over 500 voted in favour.
It seems to me that people only like democracy when it goes their way.
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We elect our parliament. They are our representatives. That IS our democracy. To imply that the arbitrary vote of roughly half the population of Birmingham is the "true" democracy totally undermines our rule of parliament and law, it seems to me. That, essentially, is the Guy Fawkes scenario. Quoting the number of MPs who voted for the referendum simply underlines the point - there should be a vote on whatever deal is on the table, surely? That's what the law says.
I wasn't making a political point, actually. That's what will be ruled upon. It will affect the value of the pound.
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We elect our parliament. They are our representatives. That IS our democracy.
I thought that was the point I was making.
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Crossed wires, then!
Pound went down again...
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Pound touched 1.17 today and looks likely to go higher.
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Another good day for Sterling hitting 1.1769 against the Euro.
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Ain't it always so. Paid my deposit on Monday and the euro continued to rise. Oh hum. Still the fact its still rising is good news overall.
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How low it'll stay up is anybody's guess. But it's still way below 1.20 - it's a little sad that we're pleased when it hits 1.17 !
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....or a little happy because it's gone up.
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It's slipped a little overnight...
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Are you a glass half full type Jimbo
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No - but I think the pound is!
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Having gone past the 1.19 mark,is now the time to start buying Euros or should we wait a little longer ?
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The trouble is that that's the Interbank rate. TravelFX is currently 1.1743 for actual cash.
But still - the pound is a little stronger than it has been. Commentators (not me) suggest that two things have influenced this: uncertainty in the Eurozone and indications such as the Lib-Dem victory that people are starting to wonder what exact deal can be made during Brexit.
I don't think there's any sensible advice to be given. It's Pontoon - stick or twist. There's a lot of uncertainty about Italian and French elections which may be depressing the euro. Personally, I'm inclined to hang on until next year before buying.
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I agree Jimbo. With the Italian constitution change vote on Sunday, their banks in meltdown there are more pressing problems in Europe at the moment than Brexit. All of which of course will affect the euro.
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Yesterday morning the pound reached 1.20 and Thomas Cook offered 1.171 so I quickly got down the local store and exchanged £1200 worth.
The pound has since dropped back to 1.18 so I think it was a good call, I can't see the pound rising above 1.20 this side of Article 50 being triggered.
Bloody Brexit!
Andy
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Looks to me that an Interbank rate of about 1.18 and cash at about 1.169 is pretty much the norm for the foreseeable future - possibly the distant future.
Currency traders are a cynical lot - they didn't respond to Theresa May's latest profound analysis ("I want a red white and blue Brexit") by rushing out and buying Stirling.
I suppose I'm old and cynical, too. It if weren't so serious I'd be rolling in the aisles. It's like an episode of Dad's Army in the sheer ineptitude and vacuous pomposity of it all. (Come to think of it, it was the Dad's Army generation that voted for it). I can see Captain Mannering standing on the White Cliffs of Dover brandishing a dummy rifle and intoning "Don't worry Pike - they need us more than we need them." To which Sgt Wilson replies "As a matter of fact, Captain Mannering, that's not true. Our exports to the EU represent about 12% of our GDP and EU exports to us represent about 3% of EU GDP." "Quiet, Wilson. Don't confuse the men!"
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Pitiful just pitiful. Let it go man it'll eat you up.
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Fair enough. Pound went down again!
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Don't panic Captain Mannering.
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Just home from a week in Uk whilst visiting family over xmas..was a great exchange rate..car full of bargains from the sales..
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Yes - That's what we have and will continue to have. The dollar and euro are strengthening, and there's no confidence in sterling.
Currently - TravelFX is selling euros at 1.1599. That's about what we can plan for for this summer.
Your ten euro meal will cost £8.65. Before the referendum announcement it would have cost about £7.20
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Yes British exporters are having a bit of an unexpected bean feast at the minute, with the car manufacturing industry, amongst others, hoping that long may it last. However, there's no certainty yet that it will.
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Theresa May's comment yesterday that there were no plans to stay in the Single Market resulted in a steep drop in the pound. Base rate this morning is 1.155 and TravelFX cash at 1.1405
The euro is strengthening at the same time as the unemployment rate drops to levels not seen since June 2009.
Duh!
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Your ten euro meal will cost £8.65. Before the referendum announcement it would have cost about £7.20
[/quote]
Wow. That's a whole £1.45 etc per person per meal. Over 2 weeks and assuming you eat out for every meal and spend the equivalent of 10 euros each time that's a whopping £121.80 extra. What's a man to do?
I know I'll forgo two family meals out over the next 6 months to pay for it.
That's a relief. You had me worried there for a while Jimbo.
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Well - it just got worse. TravelFX now 1.1355
Your ten euro meal just went up to £8.80. We probably, with wine, average about 30 euros for an evening meal. So at today's rate that's £26.42. Then add lunch and some drinks...
It might seem insignificant over small costs, like a beer, but the fact is that £1000 would have bought significantly more 14 months ago.
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And further down - Interbank 1.1430 - TravelFX 1.1275 - ten euro meal now £8.87
IMX newsletters says:
Theresa May's comments at the weekend have proven to weigh heavily on the pound as yesterday alone it fell 250 pips against the euro with similar movements against most of its 19 major counterparts. The markets expect to see a lot of volatility over the next 3 months in the run up to Brexit Negotiations.
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The Brexit "share a sunbed" scheme is being launched shortly.
NHS England will be promoting via the unusually non Granny State sound bite "eat less and exercise more and you will lose weight"
Nice are considering new guidelines encouraging Metaxa 3 star or local plum brandy currently used as a toilet disinfectant (not bad with a splash of Goat's milk)
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:-)
Pound climbed up to 1.13 on TravelFX. Joy!
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We can go on and on about the effect of Brexit on the exchange rate but ultimately is it going to stop me travelling? - a resounding no, the exchange rate has been far worse in the past and it didn't stop me then and it won't stop me now!
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We can go on and on about the effect of Brexit on the exchange rate but ultimately is it going to stop me travelling? - a resounding no, the exchange rate has been far worse in the past and it didn't stop me then and it won't stop me now!
[/quotee]
Well said. Let's be honest if £1 = e1 how many of us would still go to San Stef rather than holiday here. Yes/no?
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Going to San Stef.isn't going on holiday, it's my second home. Unfortunately, thanks to age and health, I doubt if I will get there again. Altogether now AAAW! :'(
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Richard - If you don't want to read it there's no compulsion.
The fact is that for those on pensions etc. the rate makes a big difference to holiday costs. I monitor the rate daily because a big upward spike may make it a potentially good time to bus some euros. It makes a considerable difference if you're buying £1,000 worth.
Reading back, Andy did well to buy at 1.17 because we're nowhere near that. Yes, the euro rate has been lower, but only significantly after the financial crash of 2008.
The cause - Brexit or Theresa May's trousers - is irrelevant. I'm reporting what you can get for your pound.
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Well it looks likely that Thomson's decision to reduce accommodation options may have something to do with a lower demand outlook.
In most resorts a longstanding offering has disappeared.
In San Stef I am told this is The Athina.
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I think they made that decision a while ago. But it's obvious from Thomson's current prices, as you say, that TUI are building a poor sterling value into their portfolio. And Athina will have a German input this year. That may be the future for the village.
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I think we may not be many months away from the Euro losing value against all currencies. As globalisation continues to fail the European Union will be perceived to be broken beyond repair with Banco Germany having to keep all confidence balls in the air. So I will leave purchase of Euros till the very last minute.....
(That's not to say I welcome any of this ....I see Brexit as a precursor to serious unrest in Europe)
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I was told last year that it was Athena's decision to leave Thomson (Tui), Thomson didn't drop Athena.
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That's what I was told last September too. They think it will be more profitable going all inclusive with a mainly eastern European client base apparently.
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Kernowfox - You may be right. But the euro is strengthening as the economy shows signs of improvement. Much depends upon the French elections. The fact is that everybody is fed up with austerity and seemingly would rather have chaos.
Nobody has an inkling of what's going to happen over the next few years. It's a shambolic mess. What's currently certain is the prices are going to go up a lot. Some computer components I needed are 25% more expensive than they were a year ago.
As far as Athina goes - Thomson have been ripping-off owners in the village for years, so it's no major surprise that Athina have looked elsewhere. I suspect that the Eastern Europeans are not so demanding in terms of standards, so that's good for profitability. But All Inclusive is, I think, bad for the village, particularly the tavernas. I heard on the radio this morning that there is a massive trend towards AI in the tourist industry. Personally, when the bus pulls in to those enclaves on the outskirts of Corfu Town, I feel a deep sense of depression - they're like an open prison.
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Be sure that when there's good news I'll report it. It may be from beyond the grave...
TravelFX (which, remember, usually has the best rates) is offering euros at 1.1188
No - I'm not going to comment.
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Crept up a little! TravelFX 1.1239
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1.137 today - surprising in light of the hard Brexit speech???
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I tried to reply yesterday but the forum wouldn't let me!
TravelFX is now at 1.1409 - The pound has strengthened partly because the markets have some idea of Brexit strategy, and the euro and dollar have weakened because Trump slagged-off the Chinese and the EU production figures were down. Who knows whether the rate will improve, but it doesn't seem likely it's going to get up to much above 1.12. I'm going to wait and see what happens after Article 50.
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Do you mean 1.12 or 1.2? :) :)
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Thanks, darling. TravelFX 1.1410
Supreme Court ruling on Tuesday will be interesting!
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The pound went up significantly. Best we've had for a while - TravelFX 1.1597
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Think I would make the most of it while Trump continues to destroy the dollar....just my opinion of course...
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TravelFX now 1.1631
Up and down like a yo-yo. Will Theresa wear her leather trousers and send Trump into a frenzy of lust? We await developments...
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TravelFX now 1.1631
Up and down like a yo-yo. Will Theresa wear her leather trousers and send Trump into a frenzy of lust? We await developments...
OMG what a horrible thought :o
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It's those kitten heels that bring out the tiger in him!! ;)
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Slight improvement today! TravelFX up to 1.1684 - it's getting sensible.
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It went up, it went down. It went up. It went down. The euro is a remarkably stable currency at the moment, despite pending elections.
My guess (only a guess) is that we're going to be generally in the 1.15 zones this year.
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The euro is getting stronger every day. The pound weakens. TravelFX is 1.1431
Looks like we have to wait for a small bubble of optimism and buy when it's available. There's not much sign of it!
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The exchange rate is back to where it was on 5th Feb. Ebbs and flows. A lot depends on what happens in France in May. If it goes the wrong way for the establishement the euro will crash and the pound surge. Keep an eye on Holland where the government are making moves to mitigate against Geert Wilders.
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Meanwhile - the pound is sinking against all currencies. TravelFX now 1.1380
I think the motto is "Hang on and hope"
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As the shambles of Brexit unfolds, it just gets worse. TravelFX now at 1.1248.
My prediction of 1.15 as a median is now looking optimistic.
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It's dire. As Wendy has just pointed out on Facebook, Thomas Cook now 1.1154
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TravelFX now 1.1452
This thing will go up and down like a yo yo for the foreseeable I reckon. Its just a question of when you buy the euros. Its ranged between 1.1975 and 1.1069 since Christmas with regular spikes in between. Obviously I prefer the former but I've bought at worse and better over the last 5 years.
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Quite right. Thomson 1.1116 - Travelex 1.1116 - Post Office 1.1119
Vital to shop around.
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Travelfx 1.1453
Always the negative Jimbo
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I said it was 1.1452 - that's positive! It's now 1.1455
:-)
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1.07 at the ATM in Sidari yesterday.....
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Travel FX 1.1518 best for a while. 1.1681 actual rate. Strangely since brexit went live its started to creep up. Will it last. Who knows.
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It's a bit better. It's been oscillating around the upper 1.13s for a while. It's still rubbish.
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Travel FX 1.1557
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As I write (12.38 BST 12/04/2017) TravelFX is up to 1.1627.
If you're going soon this might be a good time to buy cash.
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Been thinking about it :-\ SterlingFX is offering the same rate and you can purchase with your Debit or Credit card.
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its always a dilema. I could never play the markets me no bottle.......too conservative........to scared :'(
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SterlingFX is slightly lower but, of course, debit card is easier.
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1.1766 travelfx at 5.17pm 18/4
Thats the best for a while. Decisions decisions. £ at its highest since mid-December but how long can it go on going up is the question.
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You beat me! Just bought some.
The pound went up, the shares went down. Most commentators I've seen think this is because if Theresa May gets a big majority the influence of the Hard Brexit contingent of MPs will weaken.
It's probably going to fluctuate a lot over the next six weeks!
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Yep Jimbo and me. TravelFX 1.1806 (it was 1.1803 when I started.....weird). 1.1972 exchange rate at present. the best since 24th July 2016. wow. that's got to be a big positive at the mo.
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Don't expect it will reach the dizzy heights of 1.39 that we got two years ago.Those were the days!! It is creeping towards the 1.26 that we got last June.
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If it gets back upto 1.26 that will have reversed all the post brexit vote losses. Interesting that the Bundesbank have gone short on the £ as they expect it to continue to rise.
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Well, it fell back a bit again. Looks like the 1.17x level is the new norm on TravelFX.
The next major event is the French elections. First round on Sunday - but that will only be resolved on May 7. France is now as divided as we are. A victory for the extreme Right's Frexit policy will almost certainly turn the euro into rubbish.
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The thing about the French elections are that both Melenchon and le Pen have anti-establishment views on the EU with the latter wanting to leave the euro and a referendum on EU membership while the former wants to take on Germany and challenge how things are done via their monetary policy. A second round run-off between those two all bets will be off.
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Those who bought last week were wise. The euro has strengthened a lot after the French vote almost ensures a victory for the pro-European Macron. The fears of Frexit seem to have been allayed, and everywhere apart from the UK the mood is (narrowly) to continue with an ever-stronger (on the world stage) EU.
So the TravelFX rate is down to 1.1634 as I write.
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They haven't had the run-off yet Jimbo but you're right the non-party Macron should win.
Next up Italy in early 2018. The 4 anti-EU parties over there account for over 50% of the vote as I type. That will be interesting especially if the ECB withdraw quantative easing as the year unfolds when the Italian banks will be in trouble.
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It's all very complex - but it's very unlikely that Le Pen will win. I'd anticipate changes in the EU over the next few years to solidify the economy.
Pound down this evening to 1.1601
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Same old, same old. TravelFX (awarded best source for euros by the Telegraph this week) at 1.1640
This looks about the current going rate. Elections have not shifted it. So a 3 euro beer costs £2.57. Looking forward to them!
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Got a good rate of 1.175 today
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Yes - It was in the 1.16 range and then popped up slightly! It's all very volatile at the moment with elections etc.
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The pound against the dollar is very strong. But the eurozone has strengthened as a result of very good German export and production figures.
In the UK the pound has weakened as a result of the Manchester atrocity and election uncertainty. TravelFX is at 1.1378
Not a good time to buy travel money, alas.
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Got 1.186 on my Clarity card last week Jimbo
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That was last week. Interbank rate is 1.1544 at the moment.
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The pound has been sinking rapidly - the Interbank rate is now 1.1449 and TravelFX rate is 1.1295.
Commentators say that this is because the Tory lead in the election polls has been slashed down to 5% over Labour. That would mean the Tory overall majority would drop from 17 to 2. One major cause is old people worried about their inheritance, caused by the own-goal in the Tory manifesto.
This is obviously not a very good time to buy euros! International finance clearly has more faith in the polls than most of us. (Ironically, Mrs May's popularity has risen from -7 earlier this week to +1, whilst Mr Corbyn's has dropped from -11 to -16). Unless desperate it might be a good idea to wait until after June 8th before buying cash.
Oh- and there's a rail strike in Greece on Tuesday. Fortunately, for British visitors at least, most flights to Corfu arrive on Friday or Monday, and the fact that there will be no 11:27 from Kerkyra to Avliotes will cause no problems.
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Wait til 9th June is sound advice unless Corbyn wins then the rate will fall to around 1.07/1.08 according to the experts.
It will be like the book A very British Coup.
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A rail strike will have a miniumum affect as the Greeks, as a proportion of the population use the railways the least in Europe.
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I suspect that's because they don't have many!
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Pound to euro rate is hovering around 1.13 on TravelFX. Not good. YouGov poll has the Tory lead down to 3%
But it's also true that Agios Stefanos is the best value for money of any place in Greece that I know.
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The Yougov poll has a margin of error which could see Labour gain 29 seats or the Tories have a majority of 50. Pointless.
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But the bookies are taking it seriously. Corbyn's odds have shortened from 14/1 to 4/1, and all the polls are showing that the gap is closing.
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The latest Kantar, ICM and ComRes don't. They have a tory lead of 10%, 12% and 14% respectively. And as for the bookies in the last 2 years they've have got some elections spectacularly wrong - 2015 general election odds on hung parliament, 2016 Brexit vote odds on too remain, Trump in America odds on to lose and we know how they all turned out. ???
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Yes - but the Tory lead was 20%-17%
TravelFX down to 1.1276 !!
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Dread to think what the exchange rate is in Ag Stef at present, with commission deducted of course.
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A long period of uncertainty looms, and that means a continued devaluation of the pound. TravelFX is 1.118 currently.
Just how long the Tories can stagger on with a minority government is anybody's guess, but an autumn election looks highly probable. "Strong and stable" has turned into "Wrong and unable," which leaves Brexit negotiations in chaos. The pound is unlikely to suddenly gain biceps and get back to pre-referendum levels.
How fortunate we are to be holidaying in Agios Stefanos, with it's amazing ability to keep prices down, rather than (say) Paleokastritsa, where I shudder to think what a packed of biscuits costs!
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From an exchange rate point of view that was a result no one wanted. I'm feeling smug for buying euros back in April at 1.1818 but I only got a few. Heading to San Stef 2 weeks today so just have to suck it up - far less smug now. TravelFX 1.1226 at time of purchase but as Jimbo says the value for money in San Stef is immense compared to UK. Spent 3 days in Tenby back at the end of April and excluding the accomodation spent £350. We had a great time don't get me wrong but thats a lot of dosh for 3 days.
All hail San Stef. :D
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Utter confusion has done the pound no good. It's teetered around TravelFX 1.12 - but currently at 1.1157
I'm thinking of taking some Monopoly money with me - might get a better rate! (Actually, an Ag Stef Monopoly board would be fun)
Sorry to those who hung on waiting for the election to pass.
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Great idea Jimbo. So how would this monopoly board look?
What would replace the 4 stations.................supermarkets perhaps or the 4 biggest places that do live music. I assume the taverna's would replace the streets. San stef travel could replace one of the utilities I guess with the harbour as the other. The church could be a community chest.......
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Don't suggest putting any tavernas on, or arguments will rage here about which they should be and their board value. Put Romanza on The Old Kent Road spot and you'd be in for a lynching!
As you rightly suggest, San Stefano Travel should have a unique spot reserved for women of exceptional beauty and intelligence - beyond value. Instead of "Go to jail..." I suggest Go to Sidari.
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"Go to Sidari"......brilliant. ;D
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In case you haven't noticed, the £€ rate is dire. TravelFX is currently 1.1167 and most airports are at about 0.9!!! This follows Mark Carney's statement that Brexit is a disaster for the economy, which is already in a bad way. Total chaos in Theresa May's attempt to forge an alliance with the DUP isn't helping (seems they want over £2 billion).
It appears we're stuck with this for the long-term unless we (a) cancel Brexit (b) remain part of the Free Trade Area. As the Chancellor said, nobody [intentionally] voted to be poor - but unwittingly, they did.
My personal view, which many may disagree with, is that we accept leaving the EU (which was all the referendum asked) and remain in the Free Trade Area. That way Brexiteers get exactly what they voted for and Remainers get zero tariffs and the economically vital free movement of people. That would also solve the Irish border problem. Such a deal would see the pound strengthen enormously.
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It's a bit boring, really. The base rate is around 1.13 and TravelFX wavering about 1.12. It's hard to think of anything that's going to change it radically in the foreseeable future, apart from a major re-think on Brexit. With the Conservative higher echelons now clearly divided, uncertainty prevails.
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Reviewing my credit card after the trip this summer, the sad news is how bad the £/€ ratio remains. You're lucky to get about 1.1 - and it's been worse. The euro is very resilient and economies in the eurozone are out-performing the UK economy. We are at about parity with the euro, and it looks like it's going to stay like this for several years. Sad.
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Good thing we used cash most of the time!! Got it before it had gone right down. ;)
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There are no signs of the pound gaining much against the dollar or euro in the near or more distant future. TravelFX is 1.0893 and has been at around this level for quite a while.
All observers comment that the causes of the weak pound are (a) poor economic performance and (b) no signs of anything positive in Brexit negotiations. Actually, no signs of anything in the negotiations.
For once, the Greeks have a bargaining ship: they are floating the idea that they will not agree a final settlement unless they get the Elgin marbles back. I have long been of the opinion that the marbles should be returned, and met Nana Mouskouri at a campaign meeting in London. (Her mother, incidentally, came from Corfu).
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I suppose most people will have been abroad this year. For those of us hoping for a few extra Mythos in the autumn the news is not good.
The pound reached an 8-year low against the euro this afternoon. The Interbank rate is now 1.0839 and TravelFX is 1.0702 (if you buy £700)
I'm annoyed.
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This nothing to do with Brexit as the euro has improved against ALL currencies. Eurozone seems to have got itself into gear and growth increases and unemployment has come down even in Greece.
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It has a lot to do with Brexit. IMX reports that uncertainty about the negotiations is deterring the money markets from buying sterling.
See the FT: https://www.ft.com/content/f579e648-87e1-11e7-8bb1-5ba57d47eff7 (https://www.ft.com/content/f579e648-87e1-11e7-8bb1-5ba57d47eff7)
Hans Redeker, global head of forex strategy at Morgan Stanley, forecasts euro-sterling parity by the end of this year, with a further rise to £1.02 per euro in the first quarter of next year.
He blamed much of the sterling depreciation on the uncertainty around Brexit, saying the economic environment “looks increasingly fragile” as “investment spending is softening and export strength is underperforming”.
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Before we went on holiday in June we were full of good intentions that we would save a few euros by having some lunches on the terrace of our apartment,needless to say this didn't happen,and I don't expect it will happen again when we go in September. It costs nearly as much to buy food at the supermarket as it does to eat out so what's the point,well that's what I tell myself anyway,and if you spend the rest of the year planning and preparing meals who wants to do it on holiday?
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Greek baked beans are very nice and cheap! In July, staying in a beautiful apartment up on the hillside at Tsaros, we couldn't be bothered to go all the way down to the village and face the climb back, or up to Akrotiri on two evenings. Large bottle of vino for about 3 euros last a good few days. One night, beans on toast - another scrambled eggs. Great sunset views and a blissful release from deciding where and what to eat. Short walk then down the hill to the Tsaros pool bar for a couple of drinks and a few laughs.
Meanwhile, the BBC this morning indicates the dire straits the pound is in, with appalling, below-parity, rates at many airports:
http://www.bbc.co.uk/news/business-41097401 (http://www.bbc.co.uk/news/business-41097401)
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It's a crock of do-do. I blame life. ::)
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Nothing wrong with that jimbo,sometimes the simple things in life are the best..
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The pound went up about 1 cent against the euro. Fantastic news. If I buy £3,000's worth I get a "free" Mythos!
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if mythos has gone up to 30 euros i think ill try vietnam next year !!
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Whoops - slight decimal problem!
Pound went up a bit after hints from the BoE that interest rates may rises. TravelFX 1.1103
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1.1396 as at 11.57am today. That's the highest its been since 1st July. The markets are building in an interest rate rise as CPI is now 2.9% 0.1% higher than economists predicted (do they ever get it right?!?!?).
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Quite right. Wish we could make use of it, but had to cancel our departure this Friday. Boo!
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Quite right. Wish we could make use of it, but had to cancel our departure this Friday. Boo!
Hope you're both okay. Karen xx
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I had a stroke. Fortunately got to A&E in time, and been out of hospital for a week today. But not allowed to fly for a month, alas.
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Good grief Jimbo. Best wishes in your recovery.
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What bad luck Jim you must be very disappointed to miss your holiday. I hope you get better very soon.
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I had a stroke. Fortunately got to A&E in time, and been out of hospital for a week today. But not allowed to fly for a month, alas.
Get well soon Jimbo. San Stef needs you!
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I had a stroke. Fortunately got to A&E in time, and been out of hospital for a week today. But not allowed to fly for a month, alas.
Oh Jim, bless you! Thank goodness you are ok, what a shock. So continue to get well and take it easy. Love to you and Gillie. Karen and John xxx
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TravelFX 1.1262. Creeping up slowly. Tense isn't it...............not
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It's been a long boring winter for the GBP/Euro rate, hovering around 1.12.
Things are a bit better now (stress "bit") with the Interbank rate today at 1.1565 and TravelFX selling at 1.1447.
As I understand it, the Greek law now says that all restaurants must accept electronic payment, so now my be a good time to get a non-fee credit card such as the Halifax Clarity Card. This means you get the current Interbank rate, which is always better than the rate for which you can buy notes. The much-maligned EU has just passed legislation that mean sellers may not charge commission for payment by credit or debit card.
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After a little surge a week ago, the pound has settled back at a low rate. According to the IMX daily news, this is because UK economic performance remains poor. Fortunately for the UK, the Eurozone performance is below expectation, or it would be worse.
It looks like we can expect a TravelFX rate of about 1.12x for the foreseeable future, because continuing uncertainty about the path of Brexit is keeping downward pressure on sterling. The Interbank rate (which credit cards use) is 1.1379 as I write, and the TravelFX rate is 1.1260. This translates to: the cost of a 30 euro meal being: cash bought today £26.64 and on a no-fee credit card, such as the Halifax Clarity Card, £26.36. Not a huge difference, but it adds up.
Footnote: before the announcement of the referendum the meal cost would have been £21.58. That is a big difference!
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Off to Hamburg this weekend and got 1.12 from Debenhams yesterday for cash.
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That's interesting. They're showing 1.11 on their web site.
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Got 1.14 a couple of weeks ago at Debenhams when our usual source for buying (Tesco) was about 1.12.