Euro rate is sliding
The Euro rate is sliding. there is no question about that. When will it stop? will it bounce back by summer? Of course, nobody can be certain, currency exchange rates are a tricky beast and if someone could predict with certainty then we’d all be listening to them.
It seems to have stabilised the last couple of days, however the pound has fallen just over 9% against the Euro since last summer. As of today £1 will get you €1.23 compared to a peak of €1.40 last summer. That means for every £1,000 you exchange, you now get €170 less.
There are reports of some people stockpiling Euros for their summer holidays, the EU referendum in June is still sometime away so its tricky to say what will happen between now and then.
The Post Office are reporting more sales than usual on Euros, with the average family spending £1300/week when abroad it is certainly worth thinking about.
