How to set GBP price list, what EUR exchange rates?

[Nel5on]

I have to set a price list for the UK, from a EUR price list.
Is there a typical way to do this in business?....I cant seem to find current published bank buy forward rates.
Thanks in advance,
Nelson

 

[Nel5on]

I have contacted the banks for a buying forward rate...but they are so slow....

 

[NickGrogan]

the current rates or bank forward rates are not going to help you, unless you are buying £s or € ahead of time, or using something like options. Both not really suitable for SME.

You have two main options. If your customers are happy with buying from Europe just quote in Euros. Let them worry about exchange rates, market movements, etc.

Or pick an exchange rate and use that. Look at the average over the last few months, give yourself some room to manoeuvre, and issue new price lists if the markets move too much. This is better for customers, but if the market moves after you issue the price list, you could end up selling at a loss.

(10 years experience importing glass/glazing from Europe - www.euglass.com)

If you're looking for rates drop me a PM and I'll introduce you to the company I use.

 

[OvcaX]

EUR/GBP rates are shifting all the time.

We use XE.com for estimates.
http://www.xe.com/currencycharts/?from=GBP&to=EUR&view=1M

 

[Nel5on]

I understand, but in a lot of cases, you need to provide a price list, fixed for a year.(usually)
So I have to gamble on the rates...when the bankers are concerned to do this.
(I will insert a "flex" for when the exchange rates move more than 10%)