CyprusLiving

As the exchange rate is good at the moment, 1.40, is it a good move to send sterling over to Hellenic Bank via Currency Fair? The situation with the euro and Greece obviously impacts, but maybe to the benefit, this week, on such exchanges in thelong term?

Predicting future currency exchange rates is fraught with difficulties and something I try to avoid. The rate today is 1.41 and could get worse (for the Euro) if the Greece problem does not get sorted. My advice is usually to keep your assets in the currency of your main liabilities. That way you should not lose out if rates fluctuate (of course the flip side is that you won't gain either...) If you split your time between the UK & Cyprus, then your liabilities are probably split between GBP & EUR so a mix is advisable.

Of course this is all dependent on personal circumstances - if you need specific advice, please get in touch.

All the best,