Some useful tips on how to find the best euro exchange rates.

January 9th, 2013

Trying to find the best exchange rates for euros can be a tricky business, especially when there are so many different agencies that offer competing rates.  In recent times finding that great deal before the holidays has been made increasingly difficult due to varying economic factors that have left currencies all over the world struggling and poor in value.

There is good news on the horizon however, as things are beginning to look up.  Euro exchange rates are now improving as the pound is currently at a three-and-a-half year high – rising to better prices against the Euro – prices not seen since autumn 2008 when the Global Financial Crisis really began to set-in.  The feeling of relief will undoubtedly be shared by all, especially British holiday makers who have enjoyed a rate of just fewer than 1.21 euros for each pound this summer.  Due to the favourable exchange rate many British holiday makers this year took their holidays in European countries, where on average they enjoyed an extra fifty pounds.  Some have speculated that as the pound continues to recover and the euro hits further problems, there is a realistic chance that the pound could hit the 1.30 euro mark sometime during the autumn.

Money exchange can be a tricky business even at the simplest of times.  An exchange rate between two currencies is the rate at which one currency will be exchanged for another.  The myriad of different factors that can affect the value of a currency make trading and exchanging currencies very difficult business indeed.

In recent times the Euro has been struggling for a variety of reasons, largely due to the global economic slowdown and the persistent troubles that have plagued Greece, Italy and Spain.

So here are a few tips to help you when trying to find the best euro exchange rates:

Firstly, it is imperative that you research the current rate.  There is no possible way to know whether you are getting the best rate if you are unaware of what sort of prices you should be looking at in the first place.

Next, we would recommend ensuring that you are practiced in basic calculations of exchange rates.  This is especially important should you want to change cash whilst on holiday at different shops such as the post office etc.  Being able to think quickly on your feet is definitely very useful.

Finally, a tip for when you have returned from holiday with any spare euros: if you have any spare euros it could be worth calling a travel agent and asking whether they have clients that are due to go on holiday to countries using the euro, and if it would be possible for you to sell your euros to them.

To find out more about our euro exchange rates, please visit our site for further help.