After a painful summer in which the Euro reached a new record low, it has rebounded slightly in recent weeks against the pound sterling and the US dollar. At present, it is trading at $1.30 against the dollar and 1.195 against the pound. Why is this important for British and American tourists?
Well, when national currency performs well against a foreign one, it means that that currency is worth more when used as holiday money. If, for example, the pound goes up, UK tourists will find that their money goes much further when they visit a country that uses the Euro as currency.
Since most of the most popular destinations for UK guests have accepted the Euro, when it falls against the pound, tourists should rejoice. And while the Euro has done a bit better of late, it is still relatively weak against the pound sterling.
Is now a good time to travel? When it comes to currency, it is almost impossible to predict monthly, weekly, or daily fluctuations. The best a thrifty tourist can do is to take advantage of good exchange rates when they occur. This often means exchanging money in advance of trips.
As we mentioned, when most residents of the UK travel, they travel to countries that use the Euro. Therefore, it is always a good idea to exchange pounds for Euros when the rates are favourable. We recommend using a reputable online currency exchange service over a bank. They can deliver the money to your door in just a few days.
