In recent weeks I've been keeping an eye on the Euro/GBP exchange rate and trying to choose a good time to load my CaxtonFX currency card – undoubtedly the best way to carry the bulk of the Euros – and when to buy some Euro cash. The rate has been on the increase since the beginning of the year, accelerating over the last month or so due to the ongoing Eurozone crisis.
With the press highlighting the benefits to UK travellers it seems worth looking at the rate's history; this chart is courtesy of xe.com. I've added bars to show the dates of my European trips, starting with the Grand Tour in 2008, and including my visits to Italy and Germany featured earlier in this blog.
The rate is now 13% higher than when I bought my Euros for Germany last year, which I'm rather pleased about. However it has only just recovered to its value when I bought Euros for Italy in 2010, and is still 1.5% lower than when I set off on the Grand Tour in 2008 (the world economy crashed almost as soon as I'd left the country – I remember seeing the headlines as I walked through the station in Vienna).
To think that in 2008 I was complaining that the rate had fallen by 15% in the previous 12 months.