Posted by Allison on 14 May 2012, 14:07
If you have been keeping an eye on the currency markets you will probably know that the pound is standing rather tall against the single European currency at the moment. A number of factors have led to this situation, but overall it is the dire situation across the Eurozone that has led to the instability of the currency.
You only need to take a quick look on an exchange rate calculator to work out that the pound has been rising steadily since the beginning of March this year. It wasn’t doing badly before that, but with an exchange rate of 1.1923 on the first of March it has kept on going up since then, ending on 1.2471 on the 10th May. What’s more there is no sign of any let up in this situation.
This means that if you wanted to arrange a holiday somewhere in the Eurozone you would get a good rate for your pounds. The one thing you need to bear in mind though is that some countries are cheaper to stay in than others. The cost of living will always vary from place to place, but if you can find an attractive place to stay that is also very good on the wallet, you might just be able to take advantage of the weak Euro.
Of course booking a last minute holiday can also provide you with an even cheaper deal. Shop around and be prepared to leave at short notice to take advantage of some of the best deals around at the moment.
There is always the chance that the Euro will weaken even more of course, and at the moment it would seem very likely that it will. Sterling is still in a strong position and it is unlikely to change anytime soon. If you have the cash to spend on a foreign holiday, the Eurozone could indeed offer the most cost effective options.