Taking Out Foreign Currency

[ahinton]

I must advise that the pound can go down as well as up, and mine was not financial advice but a psychological ploy.

Now where have I heard that caveat before?! What was it? Ah, yes, the independent financial adviser's compliance statement that runs "investments can go up as well as down, but don't hold your breath"...

[ahinton]

Me too. Plus: the first restaurant you eat at in a place you've never visited before is going to be overpriced and not that great. Saves a lot disappointment to bear that in mind.

It probably would, but it surely doesn't follow that this will always happen?...

[P. G. Tipps]

I wonder what the Bank of England would say?

Seriously, your suggestion is in indeed what I’ve always done down the years, and it’s always worked out well for me. (Blimey, does this make us experts!?).

No, don't worry Beefy, we're in the Post-Truth World now, so experts are decidedly passe!

When I go abroad I always take about £100 more than I think I might need in the foreign currency and also my debit/credit card, just in case.

The last thing I want to be worried about when I go abroad is possible lack of money.

I have enough of that at home ...

[Richard Barrett]

To be honest I find it a bit quaint that people talk about taking foreign currency when they go abroad. I would never bother with that, unless I have some cash left over from my last visit to the country in question; there are always cash machines around at the point of arrival and my bog-standard UK debit card works everywhere. (Last year I took 21 international trips, a little less than usual.)

[P. G. Tipps]

To be honest I find it a bit quaint that people talk about taking foreign currency when they go abroad. I would never bother with that, unless I have some cash left over from my last visit to the country in question; there are always cash machines around at the point of arrival and my bog-standard UK debit card works everywhere. (Last year I took 21 international trips, a little less than usual.)

Er, yes, but are you not charged an additional fee by your bank for each transaction at a foreign ATM?

[french frank]

Plus: the first restaurant you eat at in a place you've never visited before is going to be overpriced and not that great. Saves a lot disappointment to bear that in mind.

Yep. Avoid that one. Go to a different one …

[ardcarp]

[Beef Oven!]

The last thing I want to be worried about when I go abroad is possible lack of money.

I have enough of that at home ...

Clearly not everyone is as well-off as you and don’t even have enough money at home. Count yourself lucky.

[P. G. Tipps]

Clearly not everyone is as well-off as you and don’t even have enough money at home. Count yourself lucky.

I was being post-truthfully ambiguous, Beefy ...

[french frank]

And now the rise in inflation gives a boost to the pound which eases one problem (slightly) and creates another.

[P. G. Tipps]

And now the rise in inflation gives a boost to the pound which eases one problem (slightly) and creates another.

.

Does a rise in inflation boost a currency ...?. It normally devalues it, though there was a tiny bounce today for whatever mysterious reason, maybe just a temporary 'correction' after the recent fall.

And the rise in inflation (with lots more to come) is itself a direct result of the 'flash-crash' of the pound following the Brexit vote, so, sadly, it's a two-way 'lose-lose' situation for the UK economy.

Experts/Remoaners 2, Populists/Lievers 0.

[french frank]

.

Does a rise in inflation boost a currency ...?. It normally devalues it, though there was a tiny bounce today for whatever mysterious reason

Yes, wrong connection. Inflation has risen and the pound has also risen (from below €1.14 to just over €1.15): so those wanting a good rate because they're going abroad will benefit and those staying at home will be worse off.

[Beef Oven!]

.

Does a rise in inflation boost a currency ...?. It normally devalues it, though there was a tiny bounce today for whatever mysterious reason, maybe just a temporary 'correction' after the recent fall.

And the rise in inflation (with lots more to come) is itself a direct result of the 'flash-crash' of the pound following the Brexit vote, so, sadly, it's a two-way 'lose-lose' situation for the UK economy.

Experts/Remoaners 2, Populists/Lievers 0.

Well the pound went up around 2% this morning, so Conchis will be holdin’ foldin’. As we Brexiters know, all’s well that ends well.

(not only can't remainers see their glass as half-full, they always see it smashed into smithereens on the floor!)

[Richard Barrett]

Er, yes, but are you not charged an additional fee by your bank for each transaction at a foreign ATM?

A small one, yes, but I spend so little time in the UK I'm used to it.

[ahinton]

Well the pound went up around 2% this morning, so Conchis will be holdin’ foldin’. As we Brexiters know, all’s well that ends well.

That was partly due to the increased inflation figures and the threat of an interest rate increase rather than anything specifically to do with Brexit; that said, it's good to know that you Brexiters not only know what you say you do when no one else seems to do so for countless understandable reasons but also that it will end well at all when there are 28 nations involved in what might happen next (whatever that may be and when).

The pound, despite that increase today, has dropped from around €1.43 to its present level of below €1.16 since the announcement of the opinion poll result almost 7 months ago; tell those living on fixed sterling incomes in Eurozone countries that "all's well that ends well"!...