Even the most discerning traveller likes to save that extra bit of money. As such, there is superb news if you’re a Brit planning to holiday in France or the rest of Europe this year! You can now look forward to more euros in spending money when you go, because the pound recently hit 1.2867 versus the common currency, its strongest in 26 months, or since July 23rd 2012.
What this means for you is that when you exchange currencies to visit France, you’ll get more euros. For example, if you exchange £1,250 for a fortnight in France, you’ll now get +€180 more than 18 months ago, in March 2013, when the pound was weaker.
So that’s an extra +€180 in your pocket, at no additional cost to you! With those extra euros, you could extend your holiday in France, or splash out at a restaurant, or just enjoy a significant saving!
Given this, how do you ensure you get the most euros when travelling in the Euro zone? Well, here are 5 tips:
- Don’t exchange currencies at the last minute. This is because you’ll have to accept whatever exchange rate is available there and then.
- Don’t exchange currencies at the airport. This is because the airport bureaux de change offer by far the worst exchange rates, since you’re a captive customer.
- Look out for fees or commission. You shouldn’t have to pay them, so make sure the bureaux de change you use doesn’t charge over the odds.
- Use a comparison site to find the best exchange rate. For example, travelmoneymax.com is indispensible: http://travelmoney.moneysavingexpert.com
- If you’re unsure, speak to an expert. They can tell you what they think will happen next to the exchange rate, so you know if it’s a good time to buy euros.
With all this in mind, it’s a fantastic time to take a holiday in France, as the strong pound makes it more affordable to do so. Another tip is to get a prepaid sim card before you travel, ensuring that you do not overspend on roaming calls and texts abroad.
By Peter Lavelle at foreign exchange broker Pure FX. [email protected].
