Exchange rate: GBP/EUR currently sitting at around 1.25, which hasn’t been seen since 2008.
Here’s the chart for the past 12 months’;
Now is a good time to talk to your currency broker about a forward contract (ordering currency ahead for payment later), as there is no certainty how the pound exchange rate will fare if (when!) Greece exits the Euro.
Forward contracts lock in a current exchange rate for an agreed period of time (up to 1 year ahead). You can draw down the money in tranches whenever you might need it. You will have to pay a small deposit amount, usually around 5% of the total you require, to secure the transaction. This method removes any doubt from future currency transactions you may need, so that you can plan your finances accordingly.
For more recent news about what is affecting exchange rates click here
For the latest exchange rate table click here
Category: Currency news