UK tourists with holidays later this summer have been warned to cash in now – because the pound is at a TWO-YEAR high against the Euro. Pound Sterling rose to a 21-month high against the euro on Wednesday, trading at about €1.1785.
It means that holidaymakers can get more for their money when exchanging cash for the summer holidays. Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “The pound has soared against the euro, because the market thinks that interest rates are going to come down sooner, and faster in Europe than in the UK.
“As a result, investors can make a better return in the UK, so money flowing here has pushed up the value of the pound against the euro. If you are travelling to the Eurozone this summer, it might persuade you to exchange at least some of your cash while the pound is riding high.”
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James Lynn, Co-Founder of travel debit card Currensea, said: “People can try to take advantage of the strong performance of the pound against the euro by exchanging their holiday money now, but the pound could continue to rise, so this doesn’t guarantee you’ll get the best rate.”
Yesterday’s GBP / EUR rate was 1.1755, compared to today which is 1.1749, this gives a difference of 0.0006, which is 0.05% decrease. This time last week, on May 23 2024, the GBP / EUR rate was 1.1740, compared to today which is 1.1749, this gives a difference of 0.0009 which is a 0.08% increase.
This time last year, on May 30 2023, the GBP / EUR rate was 1.1566, compared to today which is 1.1749, this gives a difference of 0.0184 which is a 1.59% increase. The GBP / EUR currency pair represents the number of Euro able to be purchased with a single British pound. GBP EUR is the ticker symbol for the British pound to Euro exchange rate.