The Bank of England continued Quantitative Easing last week, injecting £50 billion into the UK economy. The move often sees exchange rates weaken for Brits, but the opposite is the case, according to one currency broker.
The European Central Bank also made a big decision last week, cutting interest rates to historic lows of 0.75%. The result, says Currency Index, is a weakened single currency, giving UK spenders the best rate for buying euros since October 2008.
Other currencies favoured better, leaving exchange rates against US Dollar and UAE Dirham to fall to "their lowest [level] for a month", but for those looking for real estate abroad, now is the time to take advantage of the euro-Sterling rates and reduce the cost of property investment.
"While we don't expect the Euro to strengthen significantly given the unresolved debt crisis, if you have Euros to buy then now might be a good time to look at securing your rates," advises the broker's Managing Director Robin Haynes.
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