(As pound hits 7-year high versus euro).
This is a guest article by foreign currency broker Pure FX.
It tells you the best time to exchange currencies, so you can get more euros when study abroad in Madrid.
Sterling hits a 7-year high versus the euro!
The pound to euro exchange rate has hit 1.4253 recently, its strongest in 7 years and 4 months, or since November 2nd 2007.
By contrast, sterling was at just 1.1999 at the start of 2014. Hence, it’s since risen by +18.79%, or +22 cents.
To put this into context, a £2,500 currency exchange to study abroad in Madrid would hence get you +€560 more now than on January 1st 2014.
So, it’s the ideal time to study in Madrid, as the record high exchange rate makes it more affordable to do so!
By Peter Lavelle