By Peter Lavelle, Pure FX
Would you like to have more spending money when you rent a private family villa in Catalonia? If so, great news! The pound-to-euro exchange rate has strengthened +15 cents in the last 21 months, to 1.35. What this means is that, when you exchange currencies to stay in a Catalonia villa, you’ll receive far more euros to enjoy your holiday. Hence, you’ll be able to make the most of renting in Catalonia!
So to put this into context. were to exchange £2,500 to rent a Catalonia villa and spend a week in north-eastern Spain with your family, you’d now receive £3,375, a full +£375 more than in January 2014, when the pound was far weaker. With +€375 extra, you could rent a more luxurious Catalonia villa, take a day trip to one of Catalonia’s many beautiful villages, in short live the good life!
Why has the pound to euro exchange rate strengthened in the last 21 months? Well, it’s because the UK economy firmly has the upper hand versus the Eurozone’s. For instance, the UK is forecast to expand +2.5% this year, the Eurozone just +1.0%. UK unemployment just fell to +5.4%, while the Eurozone’s remains at +11.0%. Hence, there are lots of reasons why the pound is stronger today!
Given all this, make the most of this favourable exchange rate while it lasts, and rent a Catalonia villa!