Posted by Allison on 20 March 2015, 16:13
If you have been following the exchange rates of late you may have noticed how well the British pound is doing against the euro. The single European currency is definitely struggling to maintain a good position, especially against the likes of the British pound and the US dollar. However while this may not be good news for those in Europe, it is definitely good news for people who have the British pound in their pocket.
According to the latest reports, the struggles in Europe have had a pleasant knock-on effect for anyone looking to book a cheap holiday in Europe at the moment. The euro has been struggling since last year and it shows no sign of relinquishing those struggles as yet. Back on 1st November last year, the pound had an exchange rate of 1.2751 against the euro. By the end of the year this had climbed to 1.2838 – a slight improvement overall.
However since the beginning of this year the pattern has been much clearer. Indeed the pound has put in an exceptionally strong performance over the past couple of months. The most recent day we have a figure for – 10th March – saw the pound in a very different position indeed, reaching 1.4029 against the euro. This was an improvement of 0.1278 since 1st November last year. It’s quite a jump and one that has definitely had its benefits for those looking for an affordable holiday abroad.
There is no telling how much longer this pattern will continue for. Obviously there can be daily fluctuations in play, but the overall trend is all too clear. While many will be considering just how far their money could go in Europe when spent on a well-earned holiday, others will be looking elsewhere. Greece is still posing problems regarding whether or not it can or will stay in the Eurozone. Clearly this is a story that is going to run and run for some time yet. No one knows what the outcome will be, but for now at least Britons may as well make use of a much more advantageous currency exchange rate against the euro. That at least sounds like a positive move in the right direction.