Sterling Euro Exchange Rate

Sterling rose slightly higher against the Euro following the European Central Bank’s decision to reduce interest rates to 2.0% yesterday.  The pound was worth  €1.1214  at close of play yesterday   – it started the day at €1.11.07 Euro .
Bank of Ireland are predicting  that Sterling will remain in the region of £0.90/ €, although in the second half of 2009 they predict that sterling will  rise to around  £0.80 pence  to the Euro.
If the Pound does strengthen later in the year – now could be a good time to exchange Euros into Sterling. If you are planning a large purchase in the UK – maybe a car or even a property – you could convert your Euros to Pounds while the exchange rates are still fairly favourable.
Currency Brokers will typically save you money on foreign exchange amounts  over €5000.
One such Currency Broker is Currency Solutions – based in the UK.


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Both of these companies are registered with the UK HM Revenue & Customs as Money Service Businesses.
They can both give you better rates than your own bank and will not charge comission. You will of course need to have a Sterling bank account available  to transfer the money into.
If you have a large amount of currency to exchange  – check with your bank first how much Sterling you would get for your Euro lump sum (remember to deduct commission and any transfer fees etc). Then get quotes from the websites mentioned above . You could save over 1% on a transaction – which could amount to more than €1000 on a 100k transaction. Not an amount to be ignored.