MSE News: Urgent: Get £10 boost on top of record euro rate

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Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
in Flights, currency & car hire
The euro rate's at a seven-year high as £1 buys €1.41 and you can do even better...
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Urgent: Get £10 boost on top of record euro rate

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  • jamesd
    jamesd Posts: 26,103 Forumite
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    edited 8 July 2015 at 12:55PM
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    Since the name Euro was adopted in December 1995 the highest Euro rate was €1.751 per Pound on 3 May 2000. Using ECB data from the start of 1999 the mean daily exchange rate was 1.376 and the rate yesterday was just 2.7% higher than this long term average.

    The story title includes the claim "record euro rate". In what way is the roughly average rate today a record Euro rate?

    Is there any hidden meaning in using a lower case E for the Euro in the story? :)
  • stoneman
    stoneman Posts: 4,521 Forumite
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    jamesd wrote: »
    Since the name Euro was adopted in December 1995 the highest Euro rate was €1.751 per Pound.

    The story title includes the claim "record euro rate". In what way is the rate today a record Euro rate?

    Is there any hidden meaning in using a lower case E for the Euro in the story? :)

    Yeah I remember getting 1.64 to the £ back in 2010 I think.
    The common law of business balance prohibits paying a little and getting a lot. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.
  • benjus
    benjus Posts: 5,433 Forumite
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    stoneman wrote: »
    Yeah I remember getting 1.64 to the £ back in 2010 I think.

    It hasn't been at that sort of level since 2002.
    Let's settle this like gentlemen: armed with heavy sticks
    On a rotating plate, with spikes like Flash Gordon
    And you're Peter Duncan; I gave you fair warning
  • jamesd
    jamesd Posts: 26,103 Forumite
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    edited 8 July 2015 at 2:18PM
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    Yes, the last time it was 1.64 or higher to two decimal places was 2 April 2002 when it was 1.636929, or 1.640151 on 4 March 2002 if you prefer it without rounding.

    There were broad steps down from around 1.6 to around 1.45 in late 2002 and from 1.4 to 1.2 in late 2008. A more recent step up to around 1.4 from March 2015 that might or might not persist as long as the others.

    It's higher than it's been for a few years - almost 7 - but not close to a record.
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