Euro hits a nine year low.

Great time for Brits to holiday in Brittany, as pound hits 2-year high against the British Pound and a nine year low against currencies as a whole

Been thinking about renting a holiday gite in Brittany? If so, you’ll be pleased to know that it will now set you back less, because the pound has strengthened significantly versus the euro. In fact, sterling recently reached its highest against the common currency in 28 months, or since July 2012, at 1.2867.

What does this mean for you exactly? Well, when you exchange currencies to rent a gite in Brittany in La Ruelmain, you’ll now receive significantly more euros than any time in the recent past. The gites at La Ruelmain are priced in euros, even though returnable deposits are in pounds. For example, let’s say you need to exchange £1,250 into euros. Thanks to the strong pound, you’ll now get +€180 more than back in March 2013, 18 months ago, when sterling was far weaker!

Why has the pound risen? Well, first, it’s because the UK economy is on a roll. Britain is forecast to expand +3.0% in 2014, more than any other major country. Second, it’s because the Eurozone is still struggling to recover from the financial crisis, six years on. The common currency bloc faces both stagnation, and deflation.

With all this in mind, renting a holiday gite in Brittany is now far more affordable, as the pound flies high versus the euro!

By Peter Lavelle at foreign exchange broker Pure FX. For free expert currency advice when you rent a gite in La Ruelmain, call me on +44 (0) 1494 671800 or email peter.lavelle@purefx.co.uk

Comments

comments

Powered by Facebook Comments