Euro - Dollar - Pound or YTL

sunshinedays


Joined: 16/06/2008
Posts: 13

Message Posted:
30/12/2008 09:25

Hi



Just wondering what others are doing, is there a safe currency to put your money.



With the pound hitting new time lows is it time to change savings to the Euro - YTL - Dollar or should we sit and wait to see what happens. Until now I have always thought the pound to be the safe currency, not so sure anymore.

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
30/12/2008 09:40

nowhere is safe currrencies always have and always will fluctuate I cannot beleive that parity (as we have now almost with the Euro - unless we jump in) will be maintained. However I do not see the Euro strengthening much more and I do not think it will sink to to previous levels. All amatuer investors get out when currencies and stocks are sinking. I would stay with the pound although I am quite happy I bought dollars last summer aroun 1.80. I would not (unless I have to buy at current 1.45 when you only receive about 1.35 allowing for the spread. Property could be a good invetsment next year but if you dont want to take any risks stay in pounds with no more than the guaranted amont in any bank. This aint financial advice this us just my opinion and I aint regulated by the FSA and the fee for this non advice is zero. Therefore the APR is still 0%. Possibly where our Base rate will end although most Bankers fleece their customers and protect the bank by fixing higher interest rates.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
30/12/2008 10:14

good advice rocky but its all a bit of a worry espically here where we deal in all currencies. happy new year lilli

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
30/12/2008 10:23

Stick with the (Y) TL - you knw it makes sense !







Nick

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
30/12/2008 10:24

negative you positive lol