Spain’s borrowing costs have risen at its latest bond auction and on money borrowed today, payable in 10 years, Spain has to pay an interest rate of 6.975%, the highest since 1997. A high rate or yield indicates investors may not have confidence in a government to fully repay its debts and the figure is perilously close to 7%, the …
Is the euro set to continue weakening?
Peter Lavelle at currency broker Pure FX 16.11.2011 The euro has weakened in the past week, as concerns that Italy cannot cut its huge debt prompt investors to flee to havens including the pound. Is this trend set to continue?
The pound in your pocket…
Both the pound and the dollar have rallied slightly against the euro, so you now get €1.06 for one pound at the local no commission exchange centres. Some very good Three Kings photos sent in by Kevin Knight which you can view HERE. Many thanks to Kevin for these. The new Cafe El Barrio on calle El Barrio has opened …
Pound sinks to new low
The pound hit a new record low against the euro today, the official exchange rate dipping to €1.02. In the ‘no commission’ foreign exchange establishments the rate is already €0.99. Whichever way you choose, you end up with less than a euro for one pound. A year ago the rate was €1.50. The pound has fallen 13% against the euro …
Pound takes a dip
Pretty dramatic drop for both the pound and dollar today, the pound down to 1.03!!!! Parity here we come.
Processions and pounds…
A bit warmer, not much, but a little bit and every bit helps! You’ll find details of the various processions, including the proposed routes, in the What’s On section. Thats Santa on December 23rd, the Cartero Real on January 3rd and the Three Kings procession itself on January 5th. Weather permitting, of course. It looks like it won’t be too …
Leading by example
Everyone is being affected by the current economic crisis. Well, almost everyone. The administrators of Woolworths, a household name, have announced that all 800 of their shops will be closed by January 5th, the first 200 actually closing down on December 27th. The closures will affect 22,000 permanent staff and 5,000 part-time employees.