It’s been a rough few months for the pound to euro exchange rate.
Back in April, when Theresa May announced the snap election, the pound rose in value against the euro just breaking the €1.20 mark.
However, then came the French election and since Emmanuel Macron rose to power, the euro has gone from strength to strength.
This coupled with the hung parliament, the start of Brexit negotiations and the Bank of England holding interest rates – sterling has hardly had a leg to stand on. So what can we expect for the remainder of 2017?
The Daily Star Online spoked to ICE CEO Koko Sarkari who said: “The market’s confidence in the country’s economy, and in the country’s long and short-term stability are two of the most important factors when it comes to predicting fluctuating exchange rates.
“If the government diligently run the economy and ensure a sufficient level of stability, then Sterling should start to rise or at least stay stable. If not, then Sterling is likely to continue to fall in value.”
Top tips for getting the best exchange rate
Koko continued: “Brexit negotiations will also have an impact as the political situation changes.
“If you have a holiday on the horizon and are worried about the pound falling further, you can protect yourself by exchanging your money ahead of time.
“Look for peaks in the value of Sterling and buy accordingly. If you’re not keen on carrying around cash, or have a lot to convert, purchasing a prepaid currency card will allow you to secure a good rate with minimal fuss.”
As we’re currently in peak holiday season, many people are flocking to Europe to make the most of the European sun – but their money isn’t stretching far.
The pound is currently sitting at a 10-month low of €1.10438 (at the time of writing).
Two weeks ago holidaymakers saw themselves receive the lowest exchange rate the UK has seen in years with airports offering just €0.88 for every £1.
If you are buying money to take on holiday, plan it ahead of time as buying from the airport will be the most expensive route.
Instead, it’s best to swap money at a bank beforehand or pre-order the currency before you get to the airport to guarantee the highest possible exchange rate.