Had a bit of an EU-££ Exchange Rate Shock recently!

in #economics2 years ago (edited)

I recently changed a couple hundred EU to pounds, as I had a few spare and was disappointed to only get around £160 back in return, on a relatively low 0.86 EU to the pound exchange rate!

My shock comes due to my having changed several thousand £££ to EU in December 2020 I got a relatively good deal.... 0.92 EU to the pound back in the day....

Screenshot 2022-07-28 at 16.51.10.png

But now I'm changing some (thankfully many fewer) EU back to pounds at a considerably inferior rate.....0.86 EU to the pound!

That's quite a difference - 0.06 EU per pound down, that's a solid 10% drop in value relative to the pound.

I guess should be grateful for the fact that I don't have that many EUs I want to change to pounds, those EUs I have as, well, EUROS I'll just spend over there in Europe.

The £££ I have as ££££, I'll keep as pounds!