Wednesday, 6 July 2016

Brexit: Current Forex Situation

It's not good. As of this morning the Pound has continued it's decline against the Euro. The mid-market rate is currently 1.17; down at least 9.2% from a range of 1.27-1.30 before the referendum.

It's looking increasingly likely that I will have to raise the prices of all Mirliton and Baudea products; probably sometime within the next 4-6 weeks.

I realise that for Mirliton this comes less than 6 months after they raised their prices by 12%: a real "double whammy".

I have a large Mirliton order due soon. When I've paid for it I'll decide what to do. At the moment I'm prepared to wait and see. These things have a habit of not being as bad as they seem at first. In the meantime grab a bargain while you can.