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Pound to euro exchange rate – sterling down slightly despite soaring after ‘Brexit divorce deal reached’

STERLING dipped slightly against the Euro this morning amid a strong showing this week on the back of reports of a Brexit divorce deal being reached. The pound was down slightly by 0.10 per cent to…

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STERLING dipped slightly against the Euro this morning amid a strong showing this week on the back of reports of a Brexit divorce deal being reached.

The pound was down slightly by 0.10 per cent to 1.1354 against the European single currency.

 

The near two-month high comes after the UK reportedly agreed to pay around £50billion to exit the EU.

The welcome dose of certainty saw currency traders flocking to buy the pound in yesterdays markets.

Theresa May has tabled a whopping offer to the EU in a bid to move talks forward and start negotiating a future trade deal, European sources have said.

Sterling is up 8.5 per cent over the year to date.

European Council President Donald Tusk has set a December 4 deadline for Theresa May to submit an updated Brexit bill offer.

What has happened to the euro conversion rate in the last few months?

Sterling is down around 13 per cent against the euro and 11 per cent against the dollar compared with before the EU Referendum of June 2016.

For investors, a rate hike is good news, as it means the pound gains more value while it’s sat in buyers’ bank accounts.

A rise in interest rates can also reflect an increase in general economic confidence, which will increase sterling’s relative value on financial markets.

 The pound to euro exchange rate can be affected by many factorsGetty Images – Getty The pound to euro exchange rate can be affected by many factors

Where is the best place to get euros?

Euros can be bought at supermarkets, the Post Office and currency specialists – but rates vary massively.

The best rates can often be found at specialist online outlets, such as Travelex, which will deliver your cash directly to your home.

Alternatively, FairFX offers currency cards which you can load up with sterling and then spend abroad like a debit card.

Travellers can use comparison sites, like MoneySavingExpert’s TravelMoneyMax, to find the best rate.

If you order in advance and pick up the cash then you’ll most likely get a better rate than if you walk in.

You can also buy last-minute currency at the airport, but expect to be hit with poor rates.

It’s almost always much cheaper to buy your currency before you get to the airport.

The rates you’ll see above are the “spot” currency rate that is traded on the market.

These are different to the rates offered by currency exchange businesses, but changes in the spot rate do have an effect on how much cash you get.

How to get the best holiday money rate

WE spoke with Hannah Maundrell, editor-in-chief at money.co.uk to find out how you can guarantee the best rate when you go on holiday

  • Don’t buy cash at the airport – you’ll always be able to beat the rate with a bit of forward planning
  • Compare travel money companies online Factor in delivery costs and choose the option that gives you the most cash to spend on holiday. If you’ve left it until the last minute order online for airport collection so you get the best of both worlds.
  • Use comparison tools – MoneySavingExpert’s TravelMoneyMax enables you to compare pick-up and pre-order rates.
  • Don’t pay for travel money with a credit card – it’s likely you’ll be charged a cash withdrawal fee which adds to the cost.
  • Top up a prepaid card to lock in your rate now – Choose your card and read the T&Cs carefully as some apply hefty fees. WeSwap, FairFX and Caxton FX are all worth checking out.
  • Always choose to pay in the local currency rather than sterling – This will help you avoid sneaky exchange fees

Martin Lewis warns shoppers NOT to spend their Nectar points yet

Business

How to buy Bitcoin, is it safe and what are the cryptocurrencies Iota and Ethereum?

THE cryptocurrency Bitcoin continues to dominate the news as the volatile currency keeps breaking records. Here’s everything you need to know if you’re thinking of investing in Bitcoin or one…

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THE cryptocurrency Bitcoin continues to dominate the news as the volatile currency keeps breaking records.

Here’s everything you need to know if you’re thinking of investing in Bitcoin or one of the other cryptocurrencies…

 Bitcoin is going from strength to strength - but how long can it last?Getty – Contributor Bitcoin is going from strength to strength – but how long can it last?

How do I buy Bitcoin?

The most common way to buy the currency is to download a broker app such as Coinbase and Blockchain.

These allow users to use a credit or debit card to exchange pounds for Bitcoin.

Users do not have to buy whole Bitcoins and can purchase a small percentage that matches the value of their cash investment.

Once a request has been made, online “miners” will decide whether to approve the transaction.

If approved, the money will be taken from a user’s account in exchange for Bitcoin.

When selling, users can use the same app to sell their Bitcoin in return for its cash value.

It is also possible to buy Bitcoin directly from sellers on other websites – bypassing the need for a broker.

There are fewer transaction fees in this case, but the process is a bit riskier and more complicated – especially for a beginner.

Investors can also buy Bitcoins by depositing cash at a nearby Bitcoin ATM.

These have been popping up in newsagents and can be found by Googling them or visiting Coin ATM Radar.

Is it safe to buy Bitcoin?

Anyone thinking of investing in Bitcoin or another cryptocurrency should be very careful.

Their values are volatile, with the ability to plummet as quickly as they shoot up.

And investors are frequently targeted by hackers and other criminals who seek to steal their crypto-cash online.

Be especially careful if you are using direct, peer-to-peer platforms to sell and buy cryptocurrencies.

These are the equivalent of something like Gumtree for Bitcoin – you never know who you might be dealing with.

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Make sure you have the right ingredients to prepare a beverage for every guest this Christmas

It’s party season when friends and family love to drop in and have a drop. Here are some fantastic drinks recipes that will help you have a very merry Christmas. Mulled wine – 82p per s…

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It’s party season when friends and family love to drop in and have a drop.

Here are some fantastic drinks recipes that will help you have a very merry Christmas.

 These festive drinks are bound to please your guestsGetty – Contributor These festive drinks are bound to please your guests

Mulled wine – 82p per serving

(Serves 6)

 Nothing screams out Christmas like mulled wineAlamy Nothing screams out Christmas like mulled wine

Preparation time: 5mins

Cooking time: 5 mins

Each serving contains: 136cals (7% of an adult’s recommended daily allowance), 0g fat (0%), 0g sat fat (0%), 10g sugar (11%), 0g salt (0%)

YOU NEED:

  • 1 bottle red wine
  • 60g demerara sugar
  • 1 cinnamon stick
  • grated nutmeg
  • 1 clementine, halved
  • 1 dried bay leaf

METHOD:

  • Put the wine in a saucepan with the clementine, sugar, bayleaf and the spices.
  • Heat gently until the sugar has dissolved. Taste to see if you want the wine sweeter, and add more sugar to taste.
  • Strain into heatproof glasses and serve at once.
  • For an extra kick you can add in some gin. After taking off the heat add in 60ml of sloe or damson gin

Bucks Fizz – £3.03 per serving

(Serves 6)

 Bucks fizz is so easy to make Bucks fizz is so easy to make

Preparation time: 5mins

Each serving contains: 51cals (8% of an adult’s recommended daily allowance), 0g fat (0%), 0g sat fat (0%), 14.5g sugar (16%), 0g salt (0%)

YOU NEED:

  • 1 bottle Champagne, chilled
  • 1 litre freshly squeezed orange juice, chilled

METHOD:

  • Half-fill 6 glasses with Champagne
  • Carefully pour in the orange juice until the glass is full
  • You can swap champagne for sparkling wine or non alcoholic wine

 Head down to Morrisons to get the ingredients you need Head down to Morrisons to get the ingredients you need

Christmas hot chocolate – 39p per serving

(Serves 2)

 Nothing could be more perfect then downing some hot chocolate on a cold winter night Nothing could be more perfect then downing some hot chocolate on a cold winter night

Preparation time: 8 mins

Cooking time: 2 mins

Each serving contains: 173 cals (9% of an adult’s recommended daily allowance), 9g fat (13%), 5g sat fat (25%), 16.5g sugar (18%), 0.5g salt (8%)

YOU NEED:

  • 200ml full-fat milk
  • 4tbsp drinking chocolate powder
  • 30g dark chocolate, finely grated
  • ¼tsp ground cinnamon
  • A pinch of grated nutmeg
  • Canned squirty cream, marshmallows and decorations of your choice

METHOD:

  • Place the milk in a saucepan and heat gently until almost boiling hot. Alternatively heat in a microwave on HIGH/100% for 2-3 mins.
  • Meanwhile mix the drinking chocolate powder, grated chocolate, cinnamon and nutmeg in a heatproof jug until well combined.
  • As soon as the milk is about to boil, pour it into the jug, whisking with a balloon whisk (or stirring with a wooden spoon) as you do.
  • Immediately pour into cups and squirt a swirl of cream over the chocolate and decorate
  • TIP: Add 2tbsp of brandy or dark rum before heating to warm things up

Brendan Cox launches appeal in memory of his wife Jo Cox encouraging people to share mince pies with lonely neighbours at Christmas

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More than 600,000 hard-up families at mercy of lending ‘sharks’ to cover the cost of Christmas

MORE than 600,000 hard-up families will take out extortionate payday loans to cover the cost of Christmas, a Sun on Sunday investigation can reveal. Some are being tempted into pocketing fast cash …

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MORE than 600,000 hard-up families will take out extortionate payday loans to cover the cost of Christmas, a Sun on Sunday investigation can reveal.

Some are being tempted into pocketing fast cash by festive-themed “introducer sites”, which coax them into the hands of lenders.

 Mum of four Sarah Carty who got stung with interest of 100% on a £600 payday loan she took out to cover the cost of ChristmasNorth News and Pictures Mum of four Sarah Carty who got stung with interest of 100% on a £600 payday loan she took out to cover the cost of Christmas

Borrowers can then be hit with huge interest rates — sometimes DOUBLE the loan amount — leaving them with terrible credit ratings, CCJs and crippling debt if they can’t pay.

The sites either host adverts for regulated loans companies placed by search engines, or pass details on to other genuine lenders with high interest rates.

One, Christmas LoansUK, hosts ads for lenders such as Cashflex.

ChristmasLoansUK owner Nicholas Massey, of Smethwick, West Mids, admitted to “misleading” people.

 Christmas Loans UK appears to be introducing customers into riskier deals Christmas Loans UK appears to be introducing customers into riskier deals

He said: “I’m not an official lender. I’m the middle man taking advantage of Google’s advertising programme.”

Britain seemed rid of Wonga-style payday lending after finance chiefs capped interest on loans of 30 days or fewer at £24 per £100 borrowed.

While this initially saw the number of borrowers fall from 1.4million to fewer than 500,000, the Money Advice Service expects a spike over Christmas.

Another site is MyQuick Loan, run by McCrory Finances Limited.

 Mum of three Debbie Hall took out a £500 loan with Wonga which she struggled to repay due to the high interest rates they chargedNorth News and Pictures Mum of three Debbie Hall took out a £500 loan with Wonga which she struggled to repay due to the high interest rates they charged

It offers a £400 loan for 90 days — outside the FCA’s 30-day cap — with interest of £161.92.

It warns rates could double if the customer is passed to another lender.

Owner John McCrory, of Macclesfield, Cheshire, said: “People know what they’re getting into — it’s clear.”

Mum-of-four Sarah Carty, 40, turned to a payday lender in December 2015.

 Is it taking out a loan this Christmas really worth the risk? Is it taking out a loan this Christmas really worth the risk? Lee Carter Lee is forced to take a payday loan in EastEnders

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