Foreign exchange rates for sterling

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Foreign exchange rates for sterling

Like all currencies, foreign exchange rates for sterling (British pounds) fluctuate. The performance and strength of sterling has a major impact on businesses and households. In recent years, the pound has dropped in value against other currencies on a number of occasions. Most people would have experienced the direct impact of this when travelling aboard and looking for the best deal for foreign exchange rates for sterling.

Many financial commentators now say that the days when foreign exchange rates for sterling saw £1.00 valued at E1.40 are long gone and unlikely to return. However, a weaker pound is not bad news for all and businesses which rely on exporting goods actually welcome a weaker pound as it increases their profit margins and makes their products more appealing to those importing goods and services from the UK.

For the majority of Brits though the foreign exchange rates for sterling is of most interest when they are planning to travel overseas. In this case travellers are usually looking for to get the best value when exchanging currency.

The issue for holiday makers and travellers alike is whether to use foreign money, travellers cheques or plastic cards. The advice most currency experts would offer is to say yes to all three.

Cash is useful for day to day purposes, such paying for food, drink and local travel – and of course for leaving tips. For more expensive items and if you’re staying in your destination for more than just a couple of days then travelers’ cheques are a safe way of taking money with you.

You can order both travelers cheques and foreign currency online, indeed many people prefer ordering holiday and travel money online these days as often it’s possible to get a better deal online and it’s faster and more convenient too.

When looking for the best foreign exchange rates for sterling many websites that provide an exchange service also provide a comparison of the companies offering different rates and deals. Often, companies that specialise solely in foreign exchange offer a better deal than high street banks, but always check the cost of any additional charges before deciding where to buy your money for travelling. The majority of exchange services will add a service charge, but this can vary from company to company.

Once you’ve found the deal that suits you ordering money online is fast and easy, you’ll be asked for some basic details – about amount required, payment method and where you want the money or travellers cheques delivered, then the currency can be with you in a matter of days. 

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