The plan would be to convert all or some of the Sterling back to Euro when the exchange rate improves.
"If you thought Sterling is going to improve why wouldn't you put all of your dollars into it?".
I have no intention of "filling my boots" with Sterling, just as I didn't with bank shares. Many people including you, were predicting how bank shares would perform and advising us to fill our boots.However, unlike you, I am unable to predict how sterling will perform against the euro.
Many people including you, were predicting how bank shares would perform and advising us to fill our boots.
I purchased these shares at a rate or circa .80 so when taking my profits I have to factor in that the rate is now circa .89. I would hope that the rate meets me half way. I think it will.
Gervan. Do I just tell the Revenue that I have a Sterling account. Will they need details of all my transactions?
It's not a foreign account as its in a Dublin branch.
Because it is designated in Sterling is it not considered a "foreign" account and is treated the exact same way by the Revenue as if it was outside of Ireland?
So an offshore Sterling account...opened in the U.K. has to be returned to the Revenue but a Sterling account, paying nil interest, opened in an Irish bank in Ireland does not?
paying nil interest
so I don't have a great need to have a Sterling account other than a holding account?
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