Tenerife and the Euro Zone

kenny b


Joined: 12/09/2008
Posts: 211

Message Posted:
15/12/2008 22:16

Good Evening all

Got back from Tenerife on Friday and couldn't believe the prices we were paying for eating out and drinks average price for a JD and coke and a white wine £8.50 a sirloin steak on average £13.

Spoke to a number of bar owners who said the exchange rate was crippling them more and more planes going out half full.

Also spoke to a number of ex pats that were looking to move back to uk due to lack of funds their pensions not going as far as they would have hoped.

Reading a number of recent postings it would appear that a number of members are looking to return to the uk for similar reasons ie Cost of living in the TRNC.

My days of holidaying in the Euro Zone are over its the TRNC for me.

A question for members.

LIRA OR EURO for the TRNC what do you hope for?

I know which I prefer

Kenny B

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
15/12/2008 22:42

Kenny b.......Going out there for a week in feb for a golfing holiday with three mates.Rented an apartment on the golf del sur which has everything in it so looks like I will be doing afair bit of cooking for us all .What was the cost of beer in the bars? What sort of exchange rate were you getting for the £...

andysue


Joined: 12/11/2007
Posts: 891

Message Posted:
15/12/2008 23:02

hi kenny welcome back, just seen on tv someone change £200 at a travelx office in some depature lounge and didnt even get 200 euro! Trnc for us to mate

flossie


Joined: 01/04/2007
Posts: 65

Message Posted:
16/12/2008 00:14

Hi Coachie,



We have an apartment on Golf del Sur and I went out a few weeks ago. The Euro prices seemed to be much the same as last time eg the Chinese restaurant under the Aguamarina has not raised the price for their fixed price menu since opening a couple of years ago but of course the exchange rate makes everything much more expensive.





flossie

ronaldo


Joined: 14/11/2007
Posts: 372

Message Posted:
16/12/2008 00:35

Hi Kenny welcome back ! Think Back ! Cos you are Back ! By the way How is your Back . 1 Pound = 106 euros tourist rate 1 pound = 234 YTL . p.S turtle bay residents have got you a rack to stretch your Back ! now you are Back! no what i mean.

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
16/12/2008 00:39

Watch the US dollar. Prospect of a significant movement on the back of the 50 billion fraud fiasco in USA. Rise of 3-4 cents tomorrow possible.



Target $1.55 by Friday. Weakness of sterling destined to continue well into new year.



Buy dollars...but no guarantees!!

frontalman



Joined: 28/02/2008
Posts: 499

Message Posted:
16/12/2008 12:42

I heard on Bloomberg the dollar was likely to start falling in the short term, due to possible rate cut today. The yen and the euro will benefit mostly from this. In time the dollar might lose its 'safe haven' status, though it will strengthen again if January's figures are worse than December's and the Dow heads back toward 7500.

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
16/12/2008 12:49

Buy YTL at about 2.45 or over...sell back at below 2.35...meanwhile make 18% ( per annum 1.5% per month ) interest paid monthly from YTL...will make about 30% per annum

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
16/12/2008 14:20

Flossie ..Are the prices in the suoermarket there ok or is it better to go to the one just as you come off the moterway.Can you tell me what time they close cos we dont get there till about 9pm.....

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
16/12/2008 14:56

hi kenny

for me i see if there is a solution here it will be the euro.

if not it will still be ytl. until if and when turkey join the eu and start to use the euro.

at present we use three currencys, ordipending on the exchange rate that day.

if sterling is up against the ytl , we shop here. if it is up against the euro then we shop in the south.

i know sterling has devalued loads in the last year, but sterling will always be sterling.

Notsoboredhw


Joined: 15/03/2007
Posts: 1254

Message Posted:
16/12/2008 15:19

Hi kenny

Welcome back. Sounds like you spent lots of money! Best stay in TRNC from now on!!!! LOL!

kenny b


Joined: 12/09/2008
Posts: 211

Message Posted:
16/12/2008 22:50

Hi Coachie

Average pint price 3 euro.

I have never seen the supermarkets as busy.

We would normally go out every evening 3 courses half bottle of wine then sit in a decent bar till about 2am and I would expect to spend approx £60/£70 a night.

Last week that was costing me £90/£100.

I have heard that the supermarkets at the side of the motorway near the airport give best value.

When we arrived 28th Nov I was getting 117 to the pound last Friday best we saw 108

As stated in my original posting Bar/Restaurant owners concerned about the long term future of the tourist industry they are more than aware of the financial pressures facing people in the uk,every bar you walk past has sky news on.

Finally in Christianos most Supermarkets close at 9pm

Kenny b

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
17/12/2008 00:20

Message 7 Frontalman.

Fall in the $ combined with rate cut and economic gloom will lead to an exodus from this currency and as predicted a decline in its worth.



This is positive for sterling as correspondingly it becomes strong (only against the $)

Only for a short period however. Uk interest rates destined to drop another point and posibly to 0% in new year. FX cross spot rate currently 1.5597.



This time last year 2.077 to 1 GPB !!

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
01/03/2009 17:11

perhaps they'll all move over here ??





Nick

spider


Joined: 03/01/2009
Posts: 5527

Message Posted:
01/03/2009 17:19

yes nick that would be nice..how much is £..today...

















spider..

rowlo



Joined: 12/10/2008
Posts: 4796

Message Posted:
01/03/2009 17:55

euro is imploding , said it a while back .

andy46


Joined: 12/09/2008
Posts: 38

Message Posted:
01/03/2009 17:58

In Tenerife at present and have just got 113 euros to the pound.



andy'wife