Exchange Rates – The Euro 10 Years On

It may not seem like ten years since the Euro was introduced, but that’s possibly because the hard currency itself – notes and coins, wasn’t available until 2002. 2009, however, has marked the ten year anniversary of the currency being used electronically, and there has been plenty of movement on the exchange rate front during that time.

Sterling-Euro Exchange Rates
When the Euro was first introduced, there was a lot of scepticism about its longevity and usefulness. Despite the fact that major European economies such as Germany and France had signed up to the new currency, not everyone was certain that it was going to be a good thing. For many years, the UK was pleased that it had stayed out of the single currency, because exchange rates worked in the favour of Sterling. So good were the rates that people left Britain to set up home in Euro countries such as Spain, France and Italy. European travel became extremely popular in the UK and many people benefitted from exchange rates that made holidays far more affordable.

Euro Exchange Rates Strengthen
Over the past 18-24 months, however, the Euro-Sterling exchange rate has moved into the single currency’s favour. Strengthening against the pound during a time of economic recession, the Euro has crept up in value, making those holidays more expensive and putting real financial strain on those people who chose to make a Euro Zone country their new home. Exchange rates continue to be tough on Sterling, although analysts are hopeful that a gradual improvement in the UK’s economic conditions will help to even out exchange rates as Sterling becomes a more popular on the global currency markets.

Euro-Sterling Exchange Rates at Crown Currency Exchange
Whilst exchange rates between the Euro and the Pound remain in the Euro’s favour, you need to make sure that you get the best possible deal when you need to buy Euros. By buying well in advance, you can secure a great exchange rate, making your money go further and giving you the peace of mind that comes from knowing your currency is ordered and delivered well in advance of your trip. If you’re making regular Euro payments, talk to us about how we can help you get great exchange rates in the long term – get in touch online or call us on 0800 612 7273.

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