Euro Exchange Rate
The summer holidays may have come to an end, but that doesn’t mean that holiday time has to be over. The weather in Southern Europe is still balmy, particularly if you’re heading to resorts in areas such as Malta, Cyprus, Spain and Portugal. What’s more, now families with school-age children are back to their regular term-time routines, there are some excellent deals to be found on flights and hotels. If you’re thinking of taking an off-peak trip across the Channel, sneaking in a post-summer city break or heading in search of some Autumn sun, you’ll want to make sure that you get the best Euro exchange rate.
The current Euro exchange rate sits at about 90 pence per Euro. This figure might seem shocking to those of us who remember the exchange rate back at the start of the 2000s, when the first adopters of the single currency switched to Euros. Back in 2000, one Euro hovered at around the 60 pence mark, making eating and drinking abroad seem like a great deal, especially if you visit countries such as Portugual, where the average cost of a pint was well under €2.00. If you head to the right place, there are still bargains to be had, with the equivalent of a pint in countries such as Belgium and Spain still averaging under €2.00 – although sadly, these days, that’s not quite as much of a bargain as it was 15 years ago. The variations in the cost of living and, in particular, in the price of food and entertainment across Europe can make a big difference to the price of your holiday on the continent. If you’re heading to pricier countries, such as Austria or Finland, make sure you do your research and compare Euro exchange rate trends to help make sure your trip stays within budget.
Brexit and your budget
Whatever your take on the results of the 2016 EU referendum, it’s clear that the Brexit vote in the UK has had an impact on the Euro Sterling exchange rate. Between May 2016 and February 2018, the Pound dropped in value by 12% against the Euro and, while the exchange rate Euro to GBP is not currently working in the favour of British holidaymakers, with a bit of research, you can still enjoy a reasonably-priced break in the Eurozone.
If you have a holiday in Europe lined up, or if you’re thinking of planning a continental trip, be sure to keep checking the latest euro exchange rate GBP to euro. Earlier this summer, things were not looking positive, as in July the Pound dipped against the Euro; this, coupled with sluggish inflation, was bad news for Brits hoping to head to Europe on their holidays. However, as of the last week of August, the Pound has increased in value against the Euro with the euro exchange rate GBP to Euro currently sitting at €1.112 to the Pound. This exchange rate Euro to GBP statistic is far from the best ever rate of €1.7331 to the Pound, but it’s also a significant improvement on the kinds of figures seen in Summer 2017, when some airport bureaux de change were seen offering just €0.88 per Pound, after commission. Travellers who left their currency exchange until the last minute really lost out in this situation.
The gradual increase in the Pound, following the post-Brexit dip last summer shows positive signs from a political perspective, as Europe warms to talks on Brexit. The slight recovery in the value of Sterling is also a good thing for Brits heading overseas, offering the opportunity to get more for your money. However, it’s not all about the exchange rates – factoring in commission charges is essential when you’re looking to turn your Pounds into Euros. Using the compare travel money table, you’ll be able to find out who’s offering the lowest commission rates – ideally, you want a provider who charges 0% commission, to ensure that as much of your money as possible stays in your pocket.
Of course, while you should make sure you compare euro exchange rate data carefully before you head abroad, don’t forget to look carefully at the amount of commission charged by your travel money provider. Whether you’re ordering your currency online, heading down to your local bureau de change or using your debit and credit cards, commission and transaction fees can often add up to eye-watering totals. Where possible, choose a provider who offers 0% commission to avoid being stung by extra charges. The compare travel money table is a great way to check out which providers are offering the best deals on your currency exchange, with details across all currencies for the top exchange rate. Best exchange rate Pound to Euro details on the table can help you compare Euro exchange rate offers from some of the major providers, allowing you to make an informed decision when choosing who to go to for your foreign currency.
At the end of 2017, the impact of the uncertainty surrounding Brexit made travelling to Europe less appealing to British holiday-makers than it might have seemed before the EU referendum. Instead, newspaper columns and travel blogs were singing the praises of countries such as Argentina, New Zealand, Japan and Turkey, where the Pound was particularly strong against local currencies. Of course, travelling to South America or the Southern Hemisphere isn’t always feasible, with costly long-haul flights to factor in. If you’re going to try to make your money go further by chasing great exchange rates further afield, in places such as New Zealand, you’re probably going to want to stay longer to make the journey worth the while; this can add up to hefty bills for accommodation. So, despite the shaky performance of the Pound against the Euro over the past couple of years, heading over to Eurozone countries is still a great way to enjoy a trip on a shoestring, or enjoy a luxurious break soaking up the culture of some of our nearest neighbours.
Getting hold of your Euros isn’t the only concern when you head off on holiday. When you come back, you want to make sure that you know the best exchange rate Euro to Pound Sterling, so that you don’t lose out when changing currencies. The exchange rate euro to GBP that you see online often only tells half the story; once you factor in the cost of commission both ways, you may be looking at a substantial loss. If you withdraw from an ATM abroad, rather than going through a provider who offers a good value buy back service, you’re likely to get hit with transaction fees as well as incurring significant costs to change your Euros back to Pounds Sterling. It’s really important to plan ahead, comparing travel money providers, to get the best currency buy back rates possible, before you change your hard-earned cash into Euros. Again, the compare travel money table is your friend when thinking about whether you will need to buy back currency after your trip. After all, you might want to keep some extra Euros as a safety net, in case of emergencies, or to have a bit of extra money put aside in case you find that perfect gift, but nobody wants to find themselves in the red because they had to blow all their Euros due to unfavourable exchange rates and cheeky commission charges. Making sure that you’ve provisioned a good buy back rate in advance will save you a lot of cash and potentially a lot of heartache.
With the consistently low value of the Pound against the Euro since the EU referendum, it can be tricky to plan ahead, and you’re unlikely to benefit from sharp increases in the exchange rate of Sterling. Forecasters predict that the value of the Pound is set to dip further over the coming months, with significant drops possible towards the end of 2019, as we go through the twenty-one month ‘transition period’ which has been agreed between the UK and the EU. Of course, these predictions may not come to fruition, and, in spite of shifts in the exchange rate, Europe still has much to offer to those travelling from the UK. So, instead of worrying too much about how the political situation is affecting the exchange rate, make the most of free movement and enjoy your trip to Europe before the 29 March 2019, the official date on which the UK is set to leave the EU.
Whether you’re heading to a Eurozone country for work or pleasure, whether you’re choosing a city break or a beach holiday, whether you’re off on a romantic holiday, a family trip or visiting relations, make sure that you get your foreign currency sorted out before you leave. Shop around for the most favourable exchange rates, making use of the compare travel money table to find a provider which works for you. Don’t forget about currency buy back rates, either, or you could find yourself worse off when you get home. Getting the best deal on your foreign currency will help to give you peace of mind on your holidays, so you can relax and have fun, knowing that you’re getting more from your money, both at home and away.