Travelling to the Eurozone
If you’re popping over to explore Europe, you’ve made a great decision. Its rich history, varied landscape, diverse range of cultures and doorstep location means that within it, there’s an ideal holiday destination for city breakers, sun seekers and adventurers alike.
Whatever your budget for a European jaunt, the Eurozone has become much more expensive for all levels of traveller, mainly because the current exchange rate means you get fewer euros to your pound than previously. However, rates are starting to recover and you may find that adjusting prices are beginning to make European travel a bit more affordable.
Euro exchange rates
With the pound traditionally strong against the euro, travelling to Europe suddenly became much more expensive for British holidaymakers when the exchange rate started to fall in late 2007, dropping from an average rate of 1.5 euros to the pound to a low of almost 1 to 1. This had the effect of making prices in the 19 official Eurozone countries - which consisted of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain seem much more expensive.
With 12 other European nations also using the euro as their unofficial currency, from Andorra to Montenegro and many of the islands of the euro nations, including the Canaries and the Azores, many tourism hotspots have been affected by the change in the exchange rate.
As of mid 2014 the euro to pound exchange rate has been hovering at around 1.2 so a full recovery isn’t on the cards yet but generally the exchange rate for pounds to euros is more acceptable for Brits abroad than it has been over the last few years. This rate is liable to change, so always check for the latest rate.
Tips for getting more euros for your pound
- If you are travelling to Europe, pre-order your currency before you get to the airport to save you money by getting a better euro exchange rate with less commission
- When you order your currency, ask for small and medium denomination euro notes such as €20 or €50, that are more widely accepted in shops and restaurants than the 200 or 500 euro notes. Take some €5 and €10 notes for taxis and other quick purchases.
- Euro notes are issued in 5, 10, 20, 50, 100, 200 and 500-euro denominations
- Euro coins come in €1 and €2 as well as 1, 2, 5, 10, 20 and 50 cent denominations
Want to keep track of your spending?
One pound is currently worth around 1.25 euros. Therefore, the easiest way to get a rough idea of how much something costs in pounds is to divide the euro cost by 1.25. Remember that exchange rates can vary, so the rate given is only approximate, and make sure you keep an eye on exchange rates before and during your trip to know how much you’re spending.
Get your euros from us
We make it easy to get euros for your holiday:
- Order euros online up to five working days in advance
- Pick up your euros at a Post Office branch or have them delivered to your home – minimum order value of £400 applies online
- Online orders placed before 3pm, on a working day, can generally be delivered to your home the next working day. Where an order is placed on a Friday and delivery to your home is required on a Saturday, there will be a charge of £1.50
- Home delivery applies to online orders only
- Order at a Post Office® branch. Search for your nearest branch here
- Pick up your euros 'on demand' at over 10,000 Post Office branches
- Show us your Post Office Money receipt and we’ll buy back all your leftover euro banknotes, commission-free
- It's not recommended to bring back EUR500 notes as these will be difficult to change back into Sterling in the UK