Not since 2007 has a last-minute holiday been so feasible, the pound is at a seven-and-a-half year high against the Euro.
The Pound Sterling to Euro (GBP/EUR) exchange rate is currently trending in the region of 1.4386.
To give these numbers some context, a 100-euro meal today costs £71, in 2013 a €100 meal would have cost £88. Londoners look away now: a pint of beer costs £2 on the continent today.
Whilst this is obviously outstanding news for Brits heading to Europe this summer, what do Mark Carney’s announcements mean for WeSwap users heading elsewhere?
I’ll tell you now, it's good news…
Sterling hit its highest level since early 2008 against a basket of other currencies available with WeSwap.
Australian Dollars, for example, are the highest they’ve been since 2008. In early 2013 you would get under $1.5 for £1, today you get over $2.
Canadian Dollars have crept over $2 (to the pound) for the first time since 2008. People who travelled north of the American border as recently as 2013 were getting 25% less.
Don’t worry if you’re going to non-Euro, European countries either. Polish Zloty reached its highest point since the financial crisis last week, meanwhile the pound hasn’t got you this many Hungarian Fiorent in over 10 years.
Angus Campbell, a senior analyst at brokers FxPro, said there was an immediate benefit for British tourists travelling to the Europe:
“It is tremendous for people going to the continent. [compared to] a year ago, your holiday is going to be 10% cheaper,” he said. “We are at levels last seen before the credit crisis. 2007 was when the euro sterling [rate] was at this level. It is quite a significant breakthrough…”
To get these outstanding rates, sign up to our prepaid Mastercard® and start planning a last-minute trip…