Euro Exchange Rates this week

28 July, 2011


Buyers or sellers of Euros should be aware that this Thursday at 12.45pm the European Central Bank announces its latest interest rate decision for the Eurozone.

There has been much speculation that the ECB will cut rates, much as has happened in the UK and USA. Typically, lower interest rates mean a weaker currency, so Euro exchange rates might get better for those of you buying overseas property if there is a dramatic cut on Thursday.

Conversely, if the cut is not as much as expected, sending money to Portugal, France, Spain and Germany might become more expensive.

Make sure you use a reputable currency company if you have a transaction of over £5,000 to carry out – this should save you money compared to using your bank.