The Pound has fallen to its lowest point to buy Euros all week towards the end of Friday’s trading session creating some good opportunities for those looking to sell Euros to buy Sterling.
I have had a lot of clients who have sold property in Europe using our services to save money when changing Euros into Sterling compared to using your bank. The benefits of using a currency broker not only include getting a better deal when transferring currency but also help with the timing.
Forward contracts have been especially popular as they allow you to guarantee an exchange rate for a future date for a small deposit.
This removes the uncertainty as to where exchange rates may move in the future and allows you to actively budget with a fix exchanged rate.
As we move towards December this could be a very volatile end to the year as the next Brexit meeting is due to take place in the middle of next month.
The discussions are likely to focus on the Irish border issue as well as the key issue which is that of the divorce bill.
Figures of 40bn Euros have been mooted recently and I think if a deal can be agreed with the amount to be paid we could see this as a huge positive which could provide the Pound with some much needed support against the Euro.
On Wednesday the Eurozone announces its latest Consumer Confidence survey so this could cause some movement for GBPEUR exchange rates so make sure you’re prepared for what may happen.
If you have a need to make a currency transfer in the coming days, weeks or months then feel free to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on email@example.com and I will respond to you as soon as I can.