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With a huge amount of Brits due to travel abroad this half term, many are wondering when the best time to buy currency is.
Getting your travel money at the best exchange rate is something we all look for, but is hard to predict. As there is no certainty that a Brexit agreement will be made, it is currently even more difficult to predict which way the value of the pound will go.
One thing is for certain though. You will get a better exchange rate if you get your travel money in advance. Millions of pounds are wasted every year by travelers leaving it until the last minute and getting their holiday money at the airports or ferry ports. In-store airport rates tend to have a major mark-up compared to high street shops and kiosks meaning generally you pay 10% extra for your travel money.
An article recently published by the BBC also highlights that “if the UK leaves the EU without a deal, then using a UK bank card to pay for things in the EU after 31 October could become more expensive owing to extra cross-border bank charges”. We would recommend to play it safe and travel with some cash this half-term to avoid any additional expenses to your holiday.
What is the Brexit effect on euro exchange rate?
The good news is that as we approach the Brexit deadline, the exchange rate is favourable at the moment.
Changing £500 of your money today on No1currency.com can get you €565.30*, saving you €27.50 compared to end of October last year. We recommend buying euros online for our best exchange rate.
| Date | £500 | Difference in €s on £500 spend |
|---|---|---|
| 15/10/2019 | 565.30 € | – |
| 31/07/2019 | 552.60 € | 12.70 € |
| 31/10/2018 | 537.80 € | 27.50 € |
*Correct at time of writing, rates may be subject to change.
Don’t let Brexit spook you from getting great rates this half term.
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If you missed our prepare for Brexit Q&A – you can read it here.