The constantly fluctuating currency exchange rates are the single biggest influence on any overseas transfers that you need to make and the amount you will have to pay. If you need to make a purchase in euros, for example, the price that you pay for this in pounds will change by the second as currencies are bought and sold on the market.
Throughout much of 2015, this fluctuating sterling-euro exchange rate has been great for those purchasing euros with sterling. Numerous political and economic events across the globe have seen the British currency soar from a rate of 1.29 in January to a rate of almost 1.43 on Friday 20th November – saving you almost 8% on every €1000 you need to purchase.
Rates are fluid though, and nothing is ever a certainty in currency markets; sterling hit a high of 1.44 against the euro in August, before plummeting back down to 1.34 over the next couple of months (a loss of 5% on every €1000 needed).
The best way to make the most of rates when they are this favourable is to speak to a recommended currency specialist. They can offer you the best possible exchange rates, but they also have numerous tools and resources that you can take advantage of, to help you plan your budget with price certainty. This includes the ability to set an exchange rate for a later date using a Forward Contract, meaning the price of your foreign property in sterling will be fixed and not be affected by any further currency fluctuations.