Pound to Euro rate news.
Buy a property in Costa Blanca with pounds.
Are you thinking about buying real estate in Moraira or Denia this year, with Montesinos Falcón Real Estate? If this is the case, perhaps you’re attracted to a luxurious villa in Benissa for 1,750,000€. Alternatively, maybe you see yourself holding the front door keys to a rustic estate in Lliber, for 295,000€.
Whichever the real estate you’d like to buy, you may be interested to know what’s happened to the interbank exchange rate recently. After all, when you know the latest news on the pound to euro exchange rate, this could help you to transfer money from the UK to Spain, to buy property in Moraira.
So, read on to see what’s influenced the value of UK sterling recently, and what factors could affect the exchange rate, looking ahead.
1. The pound has gained versus the euro since the start of this year, and recently hit a 22-month high.
If you plan to buy real estate in Denia in 2019, it may first help you to know that sterling has risen notably against the Eurozone’s common currency so far this year. To be specific, the pound to euro interbank exchange rate has climbed from a low of 1.1087 on January 1st, up to 1.1653 at the time of writing, a gain of +5.1%. As a result, when you transfer money from the UK to your Spanish bank account, you may now get a higher euro total than 3 months ago.
In addition, sterling recently hit a 22-month high versus the euro. On March 13th, the pound to euro interbank exchange rate reached 1.1768, its strongest since May 14th 2017. So this too may be of interest if you plan to transfer money to Spain, to buy a Moraira property in the foreseeable future.
2. Factors that look likely to influence the exchange rate in future include Brexit and the Eurozone’s economic slowdown.
Meanwhile, looking forward, the UK’s ongoing Brexit negotiations with the EU look likely to be one the biggest influences on the foreign exchange rate. This week, the EU gave the UK more time to negotiate Brexit. This reassured financial markets that Britain will exit the EU in an orderly fashion, in the coming weeks or months, which may in turn impact the value of sterling.
Also, the Eurozone’s continuing economic deceleration could also affect the exchange rate. Today, we learnt that France’s business activity contracted in March, dragged down by the continuing ‘yellow vest’ protests. Meanwhile, Germany’s important manufacturing sector shrank for the third consecutive month in March too. This may affect the euro, looking forward.
So to conclude, the interbank exchange rate has risen considerably since the start of the year, which means you may get more euros, when you transfer money to Spain. This may be of interest to you, for when you decide to buy real estate in Moraira this year.
Article created by our collaborator Peter Lavelle at foreign exchange broker Pure FX, a trading name of Foreign Currency Direct Plc https://www.purefx.co.uk
Peter Lavelle can contact you with more information about money transfer and exchange clicking on https://welcome.purefx.co.uk/montesinos-estate/