How to buy Euros

If you live outside the EuroZone and you are planning a major purchase in Europe at some point you will need to buy Euros. The good news is you can save yourself a small fortune by researching and planning the euro currency purchase ahead of time.

This Euro Currency Exchange site is designed to help you with all your currency exchange questions in connection with buying euros.

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Euro Currency Update - 16th March 2010 - Sterling rides the blows

Poor economic statistics and unhelpful comments rain down on sterling. Investors take the view that something will turn up for Greece.

Sterling proved to be slightly less fireproof than it had been the previous week, losing the half- cent between €1.11 and €1.1050. The low came at €1.0950 on Wednesday and sterling was staring at that same level as things got under way in London this morning.

In a dull week for hard data the British economy did not have a whole lot to say for itself and what it did manage to scrabble together was not particularly edifying. Two house price indices, one from the Royal Institute of Chartered Surveyors and the other from estate agents' website Rightmove, damned the property market with faint praise. The RCIS house price balance, which compares the number of members reporting higher prices with those reporting lower ones, fell from 32% to 17%; still positive but more reservedly so. Rightmove's index of asking prices went up by 0.1%; positive buy only by a technicality. UK industrial production figures were a bigger disappointment and took sterling to the lows of the week. Production (manufacturing, mining and energy lumped together) fell by -0.4% in January. Manufacturing alone was down by -0.9%. January's trade deficit was £8 billion, the biggest since August 2008. Between August '08 and January '10 Sterling's trade-weighted value became 23% weaker yet imports were up and exports were down. The significantly more competitive currency is still not having any positive effect on the balance of trade.

Sterling also had to contend with unhelpful comments from several quarters. Credit ratings agency Fitch was 'uncomfortable with the fiscal adjustment path set out by UK authorities' and looked for 'more credible and stronger fiscal consolidation plans during 2010. Credit Suisse anticipated that UK banks, collectively, would have to reduce their balance sheets by more than £500 billion over the next three or four years in order to meet new regulations. The prime minister reassured investors that Britain's AAA credit rating was solid but not all of them were convinced, especially the researchers at UniCredit Bank who predicted that the government would have problems selling all the bonds they need to shift to finance the budget deficit.

Euroland was just as starved as Britain when it came to useful statistical guidance. Investor confidence improved from -8.2 to -7.5 but the figure was still negative. It was only really euro zone industrial production that counted for anything. The +1.7% increase in January was way better than Britain's anaemic performance, even if it did only represent a +1.7% improvement over the same month last year. More salutary than that were Germany's trade figures. In the same month that the UK made an £8 billion loss, Germany turned a profit of almost the same amount. It did so despite what the authorities in Berlin and Paris describe as an overvalued euro.

Underlying everything to do with the euro was still the co-ordinated (or not) bailout programme for Greece. Another week went by without any sign of final sign-off for the €25 billion (or thereabouts) mix of loans and guarantees that the Greek prime minister spent half the week travelling the world to engineer. As things presently stand there are several schools of thought. One believes that Greece will be able to work its own salvation, if only because it must. Another has it that Germany and France will eventually get off their high horse and put their hands in their pockets. Yet another argument is that, with or without Germany's co-operation, Brussels cannot afford to see the economy of a euro member crumble for lack of cash. The market's point of view, for the moment at least, is Micawberesque; 'something will turn up'. Investors are not sweating too much as long as nothing explodes.

Sterling surprised many with another refusal to lie down last week despite a string of potentially damaging developments and data. However, as long as the opinion polls continue to indicate a hung parliament investors will continue to fear that even after a general election Britain's government will be unable or unwilling to tackle the budget gap. Buyers of the euro should hedge 50% of what they will need. If the money is required in the near future they should consider covering the whole amount.

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Currency Exchange Glossary

A list of terms used in foreign exchange dealing

Banks and foreign exchange dealers are used to explaining currency exchange in everyday terms to keep things straightforward, but here's some of the jargon just in case you like to know your subject in advance! more...

Euro Buyers Currency Exchange FAQ

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Foreign Currency Daily Update

If you really want to keep tabs on foreign currency trends why not check out the daily bulletin from Moneycorp which looks at UKP vs Dollars vs Euros?
Daily currency brief

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Euro Currency Exchange - Buying Euros

1. Call +44(0)1225 463752 to discuss your currency requirements

2. Request a call-back. A currency adviser will call you back at a time to suit you

3. Currency FAQ Frequently asked questions about currency exchange for buying Euros or other currencies.

4. Keep up to date with the latest Euro/Sterling currency news.

Pound and Euro Currency Update - Weekly Update 16th March 2010

Sterling rides most of the blows

Poor economic statistics and unhelpful comments rain down on sterling. Investors take the view that something will turn up for Greece. more...

Euro review - March 2010

The Euro to big to fail

What goes around comes around. During the first part of the year sterling's critics were distracted by the tragicomedy going on down the road in Greece. The multicultural nature of the dispute between Greece, Brussels and Berlin was new and more immediately entertaining than the boring old story about Britain's mounting pile of debt and quantitative easing by the Bank of England. By the end of January it really looked as though the pound had forged a higher range for itself against the euro, supported at around €1.13 and with scope to move above €1.16. more...

Dollar Sellers - Euro Buyers Monthly Review March 2010

Investors cannot make up their minds about the dollar

Investors cannot make up their minds about the dollar, they are unsure about the euro and they don't know whether 'risk' is a good thing or bad. In one way this makes for an uncomfortable state of affairs, with frequent changes of direction and a lack of confidence. In another it means a trendless exchange rate and the expectation that, if you miss one opportunity to buy relatively cheap euros, another one will be around before long. more...

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The benefits of a lawyer are obvious. But why use a currency dealer? FrenchEntrée.com puts the questions to currency dealer Moneycorp on your behalf.

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Free Newsletter!

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Euro Currency Buyers FAQ

Everything you might be afraid to ask about buying euros...

Frequently asked questions about currency exchange for buying Euros or other currencies. Where can I buy at the best exchange rates, what will it cost, how long will it take, can I get advice, how do I pay and more...
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