Euro to pound (british) someone help me

Question

OK i really really dont understand all this exchange stuff!

ive been working in spain for a while so i have quite some euros but i need to change them over to pounds as im moving back home to england soon! But i dont no where and when is the best place to do it.

someone offered me when people change pounds to euros i can give them my euros as its (1.17) so il be laughing if i do that as its such a bad rate for pound to euro so its a good rate euro to pound (e.g £100 is equal to 117 Euro) apernelty to buy the pound back its so expensive ? Is this true? does it work like that normaly?

what about the post office they normaly have good rates dont they?

Should i change it now in spain or back in england?

Please help im so confused im no good with all these number!

Thankyou

Answer 1

the exchange rate,is quite low at the moment,but your best bet is probably to buy Stirling in Spain .

the rate at the moment is about 1.26€ to the pound so if you can buy pounds at 1.17, do it.

Answer 2

Shop around!! Travelex are currently offering 1.24 euros to the £1.00

www.travelex.co.uk

Answer 3

exchange in spain

Answer 4

£1 = 1.26 Euros

1 Euro = £0.78

If you have an ATM (hole in the wall) card, draw money when you get to Spain, you will get the business rate of exchange and not the "rip off" tourist rate.

Answer 5

if your in spain cash your money in there, it will be better to swift your money into your british bank account rather than buy cash ,at the moment the pound is weak against the euro, so you get a good deal as you can buy pounds cheap, any one wanting to buy euros, it will be expensive at the moment,so you get a bad deal, it's always better to cash your money in , in the country of its origin, english banks always prefer to accept pounds rather than foriegn money, you get a better exchange rate, i work with some people who make the mistake of bringing there wages home in  foriegn currency, and they always lose out

Answer 6

Why don't people read the question?  Broken A is clearly not wanting to buy Euros in Spain but to cash in the Euros he has earned in Spain for british Pounds.

The Post Office offer a "commission free" exchange service but they make their money by giving a different rate for selling you Euros than they do for buying them from you.  You will currently get around 1.22 Euros per pound if buying Euros but if you are cashing them in then the current rate is 1.35 Euros per pound.  In other words, to buy 100 Euros would cost you £81.96 but to cash in 100 Euros you would only get £74.07 so no commission, but still a nice profit for the post Office. I think you would probably get a better deal in a bank in Spain

Answer 7

Obviously the rate varies daily but you are correct - your local Post Office is a good bet to exchange  notes ( not coins ) . No commission and you can do it over the counter . Hassle free !  

Answer 8

I changed mine at the cam bank. You are right now is a good time to change from euro to sterling. I only hope that by the time you go back the UK hasnt flipped to Euros then youwill be sorry.