Cyprus-Forum.com

[EPSILON]

Good to see Stg rise to 1.16 .

no its F****ing not!

Good for you but disaster for us- but is ok, you was always selvefish

[Hatter]

GBP's relative position depends partly on the strength of the British economy. Given that manufacturing in Britain was destroyed by Maggie's policies in the eighties and has not recovered since, and on the reasonable assumption that the strength of the financial services industry was fuelled by the laxity of financial controls, which in turn was a major factor in the current financial crisis, it is difficult to see a serious recovery of the British economy. Fluctuations in the exchange rate between GBP and EUR are insignificant. The exchange rate of 1 GBP= 1.5 EUR of yesteryear, or anything similar, will just not return again unless something really drastic happens.

Interesting to notice that those (one or two) British banks that reported a profit recently, stated that most of their profit came from operations outside the UK.

IMHO, there is no real GBP recovery against the EUR on the horizon.

[DT.]

Good to see Stg rise to 1.16 .

no its F****ing not!

Good for you but disaster for us- but is ok, you was always selvefish

WHen you get some kids going to uni in the UK you'll be on this side as well.

[D.Queen]

6 pages are too much to read, so please apologies, but i think it would take longer for uk pound to recover...at the moment it's 1GBP= 1.14E !!

I dont think it will anytime soon reach the old levels...and i think it better stay that way...

[bill cobbett]

1 - 16.8 E to the GBP mid-point at xe.com as of posting.

That coffee at Paphos Harbour is coming back in to reach.

[Z4]

......but no cake though Bill....not yet anyway

[Z4]

1.17155

[miltiades]

1.17155

Still on the up at 1.175 , not short of the 1.20 where I feel it will stabilize before moving up as soon as interest rates increase in the UK. Lets face it the half of one percent interest rate is not of ant great benefit since banks and credit cards have not passed it on.

[bill cobbett]

1.17155

Still on the up at 1.175 , not short of the 1.20 where I feel it will stabilize before moving up as soon as interest rates increase in the UK. Lets face it the half of one percent interest rate is not of ant great benefit since banks and credit cards have not passed it on.

Hi Milto, what was the rate in CY at the shops during your visit?

[miltiades]

1.17155

Still on the up at 1.175 , not short of the 1.20 where I feel it will stabilize before moving up as soon as interest rates increase in the UK. Lets face it the half of one percent interest rate is not of ant great benefit since banks and credit cards have not passed it on.

Hi Milto, what was the rate in CY at the shops during your visit?

Well Bill I very rarely change Stg to Euros , but I think the best I saw was 1.12 to the pound on Tuesday 9th early morning.
We operate Western Union here in London and have combined it with Euro purchase only . Yesterday we were buying at 1.24 to the pound. Hoever today I expect to see Stg moving on to 1.18 so my buying rate will be 1.27 , not bad , the trouble is there are so many forgeries around you have to exercise caution.

I think today Stg will go past the 1.18 , but forecasts can be right as well as wrong but I have a feeling that Cyprus will seem less expensive in a few months, having said this the Cypriots are a very shrewed race of people so expect prices in Cy to go up accordingly.
I think the Cypriot supermarkets must be the most profitable in Europe , I'm convinced that they are making a killing and and that they are operating a cartel system amongst themselves , how else can cheese and butter , milk and bread be so exceedingly expensive .