How to calculate price from € to £?

Question

Hi.

I have quote to purchase some goods in Euros and i want to know how much it will cost me in GBP to sell it here.

I want to know if it's worth to import.

What other expense should i add?

Transport...5%...?

The exchange rate is always changing so i don't know at which rate should i calculate.

This is for business purposes.

Any help would be great.

Thanks

Answer 1

I've got a widget on my desktop which does all that.

If you've got vista go to their widgets page (if you've got yahoo or google sidebar, you can go to their respective sites)

hope that helps

Answer 2

You should look at an exchange rate site....like this one: http://www.x-rates.com/    ...hope it will help :*

Answer 3

Here you go -

http://www.x-rates.com/calculator.html

And

Transport expenses

Effort expenses

Packaging expenses

And your profit obviously

hope it helps =)

Answer 4

http://www.xe.com/ucc/

use that. it's always up to date.

Answer 5

One of our companies imports goods from Europe and we're subject to fluctuating currency rates.  We recently recalculated our profit margins and based it on an assumed rate of a euro being equal to £0.80.  It's the best you can do to give you an idea of what your profit can be.  There are freight costs added to the invoices from our suppliers.  These vary from freight company to freight company and depend on the weight of what you're buying.  Our latest shipment which was in the region of 2,500 euros had a freight charge of 78 euros.  The previous one at 1,200 euros cost 236 euros because it was shipped on a pallet.

You also may need to add on the costs of sending payments in euros to your supplier.  We used to use the bank to do this but now use a currency broker as their service is cheaper and more reliable.  Depending on the amount you're buying and how often, you can fix the rate of your euros for a period through a currency broker.

As for what you charge in this country, double your buying price to cover your overheads and add on the buying price again to give you a profit.  Very rule of thumb.  Some of what we buy in we sell with a higher margin than that but it depends on what the market will stand.

Good luck!

Answer 6

The rate doesn't change that much! Unless you are dealing in 100s of thousands.If you think that the euro is still going to go up against GBP then use a slightly higher rate for your calculations. Firstly to help you calculate always think of there being more euros than pounds (in fact there are 1.23 euros to the pound) or a euro is worth about 81p.

What I mean by that is say you have 10000 euros you know that the figure for pounds will be lower, if not than your calculation is wrong. 10000euros would be 10000/1.23=£8130