When should I buy my currency?

GBP EUR Exchange Rate: Weekly Review July 16  

With some of the best euro rates around in many months, now is a very good time to be considering a currency exchange. If you need to buy euros the current price is much improved versus the prices around for most of last year.

If planning a currency transaction buying euros at present it is very tempting to look at current levels and be tempted to hold on, hoping they will improve. As tempting as this is, it can result in major disappointment if things take an unexpected turn. There is a lot of value in a sensible approach to a currency transfer, that is making sure you know exactly how much the purchase will cost you in advance, removing the risk of rates suddenly deteriorating.

This time last year rates were in the 1.23’s. By February they had dipped to 1.14! The losses were unexpected and caught many people out. Therefore if you are pleased with current levels it may be wise to capitalise sooner to remove the risk of losing out if the market drops.

For more information on strategies to maximise your exchange rates, please speak with me Jonathan directly. You can call 01494 787 478 and ask to speak with me or drop me an email to [email protected] – I look forward to hearing from you and helping with your transfer.