Pound to euro exchange rate: Sterling clings to 1.16 mark ahead of potential ‘volatility’

The pound performed well last week, with local elections being held across the country. As the market reopens this morning, it remains in the 1.16 handle against the euro. 

“This is as the market reacted positively to the weekend’s election results, and the perceived lower risks of a second Scottish independence referendum.”

It was trading at the same rate as today, 1.163 and it has not moved much since.

What does this mean for travel money?

Today, the ban on international travel is lifted in the country, meaning holidaymakers can once again travel to countries around the world, adhering to the traffic light system plan. 

Travellers can jet off to the “green” list countries today, meaning there is no quarantine upon return.

These include Portugal, Gibraltar, Iceland, Singapore, Australia and New Zealand.

The Faroe Islands, Saint Helena, South Sandwich Islands and Brunei Darussalam are also on the “green” list. 

According to one expert, extra caution should be taken when planning holidays this year.

James Lynn, CEO and co-founder of Currensea explained: “While it’s excellent news international travel is opening up, the proposed traffic light system will mean there will still be an element of disruption this summer, both to travel companies and consumers.

“Extra caution and careful planning will be really important when it comes to planning holidays this year – and keeping abreast of the latest updates will be key.”

“Financial safety when travelling must also be top of mind for consumers. Sudden changes and cancellations, which remain likely could put travellers at risk if the right precautions aren’t taken.”

Travellers can also travel to countries on the “amber” list which sees a 10 days quarantine at home upon return and a pre-departure test.

Countries on the “amber” list include Antigua and Barbuda, Brazil, Colombia, India, Kenya, Peru and South Africa.


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