Best euro exchange rate in years helps holidaymakers, overseas pensions and foreign property payments

The recent developments in the Eurozone have seen a steady increase in the pound euro exchange rate. Many currency exchange bureaux are currently offering a record high of 1.2 to holiday makers travelling to Europe, something not seen for many years.

The Sterling strengthening also sees the many pensioners who have emigrated to Europe benefiting in increased overseas pension payments. Individuals with regular payments for mortgages in the Eurozone also set to benefit.

Currency experts see the Euro rate increasing further as the Eurozone crisis continues and the Euro weakens further. John Cameron, currency expert at Currency News, has predicted more of the same:

"The eurozone's structural problems are not going away any time soon. With the ticking time-bomb which is Greece looking like going off at any moment, there has rarely been more potential for higher rates on GBP EUR since the single currency was instigated in 1999."

"If the troubled Hellenic state does default on its debts, then expect the GBP EUR exchange rate to move sharply higher, to make a concerted run at its 42-month high of 1.2994 in the near-term."