Pound
Polina, thank you for your question. There are no valid 100 pounds banknotes anymore. Only the example of the historical 100 pounds banknote. The valid British pound notes are: 5, 10, 20 and 50.
I’ll be needing to exchange a large amount of euros to pounds (>50 thousand £). I’m simply asking for the advice, I’m not going to blame you for anything. But should I exchange it now or should I wait until there are some news about Brexit? Or until it actually happens? Thanks!
Hari, thank you for the question. I am not really sure if it’s more beneficial to exchange it now or not. It will take a lot of time for Brexit to happen, more details are going to be announced in March, 2017, but everything should start moving only in 2019.
Based purely on my opinion, pound should recover and grow stronger in a long run (in 1,5-2 years), because of all of the challenges that European Union is going to face. When it comes to a shorter period of time (3-9 months), I believe there are going to be lots of speculations and emotions, but pound should not fall even more than it did in October. I imagine pound getting stronger, yet there might be some changes in March, perhaps pound exchange rate will fall a bit. One way or another, I think that the more Great Britain isolates itself, the stronger its currency will be.
This piece of advice is just a personal opinion and one should not depend on it when making any sort of decisions. Financial world is a very complex and constantly changing matter, which is influenced by a number of factors. So it’s impossible to predict what’s going to happen exactly. Good luck!
Hello. What can we expect next for the pound exchange rates? Is it going to fall or rise in the near future? I am interested in your opinion. Thank you for the answer.
Gregg, thank you for your question. It is very difficult to predict anything under such circumstances. In my opinion, pound exchange rate should become stronger in the future (after the withdrawal from the EU), it is hard to say what’s going to happen until then. My opinion is just a guessing as well.
