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GBP or Euro
Jack Ouzzi
Posted: 04 May 2018 08:58:33(UTC)

Joined: 04/05/2018(UTC)
Posts: 1

Hi all,

Newbie here, I just wanted some 'opinions' of possible best way forwards .. so I live permanently in Germany, get my income from the UK (Local Authority Pension plus State Pension) and transfer monthly amounts for day to day living depending on the exchange rates .. so I can 'hold' a couple of months ..

I have built up 'moderate savings' in both Euro and Sterling accounts. So now throw in a mix of Brexability and uncertainty ... should I keep more EURO savings or more GBP savings. I have no intention of returning to the UK, Brexit itself will not affect me personally no matter what will happen. Paid for living property in Germany.

My Local Authority Pension does not allow me to transfer to overseas, so I need to keep a UK bank account open (to get paid) and a UK address.

Obviously a personal decision, but could just do with some 'opinions' ... Keep more Euros or keep more Pounds Sterling ??


PS Next question .. Bitcoin :-) (later)

PPS I forgot to add that savings interest rates at both ends are crap .. so nothing to gain there really ....
philip gosling
Posted: 04 May 2018 17:02:14(UTC)

Joined: 06/01/2013(UTC)
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On balance I would keep Euros that is what you are spending
every day.

Bitcoin is gambling not investing
Tyrion Lannister
Posted: 04 May 2018 17:28:57(UTC)

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I agree with Philip, assuming the country you live in has a stable economy, I'd always opt for having the bulk of my cash in the local currency.
Posted: 04 May 2018 21:06:53(UTC)

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Because your pension is in £, the bulk of your financial assets are in £.
Because your spending is in €, your major financial risk is from a decline in the £/€ rate.
So you reduce your financial risks by moving your pension into € as you receive it.
1 user thanked xcity for this post.
Tim D on 04/05/2018(UTC)
Posted: 05 May 2018 05:32:19(UTC)

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If I were you I will keep at least some percentage of pound. There is a day for every currency.
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