Re: Exchange Rate

#77712
Anonymous
Participant

I did not really notice a great deal of difference in the Tourist rate in September/October las year on holiday but then I did use a UK Exchange over the course of the year and the lowest Tourist rate that I got, commission-free, was 1.415, the highest, 1.455.

In Salou, Tarragona, Sitges and Barcelona etc. last year I did see signs of 1.45 but they had no mention of Commission and, as I had no need, I didn’t investigate. Barca was more expensive but if you looked around prices varied a great deal away from tourists throngs.
The average seemed to be around 1.38.

The worry now for UK buyers and expats who have all their income via the UK, plus of course tourists, is that everything will cost more or your income is effectively cut by a considerable margin; not nice when you are on a limited pension income with no Social Services or Benefits to fall back on.
I personally am rather worried about both the official rate and the tourist rate, especially as I’m going over to Denia again this year but my heart goes out to all those on the limited, fixed incomes; I know one or two couples that have said that they are not so well-off now but, knowing one couple in particular very well, I get the impression that it’s a lot more serious for them than they would like to admit.
A friend who was in the money markets says that it doesn’t look good for any major up-swing this year and he does know his stuff.
Problem is he also doesn’t see a major recovery in the future either.
stevmk2