Pound at 8 month low against the Euro

Jonb wrote:The above post about sums up this farcical Brexit.

It’s pretty clear, even to a layman - I’m not, I worked in the markets as a bond trader - that the markets are saying Brexit is not a good idea.

If a sensible ‘soft’ Brexit is achieved, then expect sterling to improve. If a hard Brexit is forthcoming, it will disappear up its own fundament.

Very funny but very true. Pete.

It`s called democracy. People are just as passionate to come out as people are to to stay in.

I don`t think it will affect expat permanent residents here much, although the exchange rate must give cause for concern, but it has remained pretty stable at around 1.14 this year despite all the political goings on with Brexit .. not particularly good, but stable.

We have to wait until next March to see what happens. It can either plummet even further or go through the roof. My money`s on the second one .. while I`ve still got some.

113/14 business rate.
110-111 tourism rate.

How can you say wont affect residents? UK pensions are paid in sterling. Prebrexit rate was around 1.40, now 1.13. That affects what we can spend locally and makes it more expensive for buying property.

valenciasman wrote:How can you say wont affect residents? UK pensions are paid in sterling. Prebrexit rate was around 1.40, now 1.13. That affects what we can spend locally and makes it more expensive for buying property.

Read my post. I said that the exchange rate must give cause for concern. And it was 1.30 not 1.40.

And I was speaking in general, not just about the exchange rate.

Ha ha ha. Wait until the lunatics who are running the great British asylum fix the final FUBAR.Then you will be able to start decorating walls with your pounds.

It will affect residents, already has.

Since the Brexit vote, people exchanging pounds to euros have been losing about €170 per £1000. That equates to over 4000 in 2 years. That might not seem much to some of the wealthy people here, but to the thousands that rely on pensions just to have a normal life, it is a lot. So a big thank you (not) to all that voted leave.

Losses due to exchange rate since June 2016.

£1000 pcm = 170 pcm. Approx 2040 per year
£2000 pcm = 340 pcm. Approx 4080 per year
£3000 pcm = 510 pcm. Approx 6120 per year

Benjamin1 wrote:Since the Brexit vote, people exchanging pounds to euros have been losing about €170 per £1000. That equates to over 4000 in 2 years. That might not seem much to some of the wealthy people here, but to the thousands that rely on pensions just to have a normal life, it is a lot. So a big thank you (not) to all that voted leave.

Losses due to exchange rate since June 2016.

£1000 pcm = 170 pcm. Approx 2040 per year
£2000 pcm = 340 pcm. Approx 4080 per year
£3000 pcm = 510 pcm. Approx 6120 per year

The exchange rate was 1.04 to the pound at the end of 2008 so what exactly does it have to do with those who voted to leave?

The system is rigged for failure anyway so we may as well all enjoy what we have now today while it's here. If the rate goes up (it has since yesterday, so far) then great, if not, then we'll just have to make do with what we do have.

Yes ... How much did people lose in 2008 ...It affected residents more so than now .. But still we got on with our lives and many are still living here.

Ah .. but we didn`t have Brexit to blame for everything then did we.