Buying property in Euros whilst earning money in Great British Sterling or US Dollars can mean losses for the overseas property buyer who can be at the mercy of fluctuating exchange rates. The Euro is now the majority currency in Europe and buyers need to protect themselves from currency rates that can swing out of their favour. The use of a foreign currency brokers will help you get the most from foreign exchange rates when buying overseas property or transferring money abroad. Rates can be booked up to two years in advance and fees tend to be lower than your high street bank

The Euro

The Euro exchange rate should not be left to chance when making large transactions

Buying a property priced in Euros a case study
A couple wishing to purchase a property in Spain for 200,000 euros would have paid the sterling equivalent of £135,107 in December 2005. Three months later they would have paid £139,034 for the same property. By securing an exchange rate in advance, they would have made a saving of almost £4,000.

About the Euro

The Euro is the official currency of the European Union member states of Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain . The Euro is the single currency for more than 300 million people in Europe. The symbol € denotes the Euro, the Euro currency may also be indicated by the abbreviation "EUR".

How the Euro was introduced

The Euro was introduced to the currency markets as an accounting currency in 1999. The European public a few years later in January 2002 then witnessed the birth of the Euro coins and banknotes. Many complained at this time of shop keepers and businesses of rounding up their prices in 2002. Around 7.8 billion euro notes and 40.4 billion euro coins, together worth €144 billion, were put into general circulation by the central banks of the twelve participating countries of the euro area.

How did Europe change to the Euro currency?

Euro notes were distributed by bank machines and shops started to give customers change in euro cash. At the same time, each country started to withdraw national currency notes and coins from circulation.

What happened to the old European currencies?

Each Member State adopted a transition period of dual circulation during which the public could spend their remaining national currency notes and coins in shops or exchange them for euros at banks.

Who can adopt the Euro?

All EU member states are eligible to join if they comply with certain monetary requirements, and eventual use of the euro is mandatory for all new EU members.

How is the Euro managed?

The euro is managed and administered by the Frankfurt-based European Central Bank (ECB) and the European System of Central Banks (ESCB) (composed of the central banks of its member states). As an independent central bank, the ECB has sole authority to set monetary policy. The ESCB participates in the printing, minting and distribution of notes and coins in all member states, and the operation of the Eurozone payment systems.

Take the uncertainty away by using a currency specialist

When buying property abroad , making regular payments overseas or other overseas money transactions it is important to receive specialist currency advice. This will allow you to obtain the best foreign currency exchange rates. We all want to make our money go further you do not have to be at the mercy of the money markets or the banks.

Specialist currency dealers can save you thousands!

FX dealers who specialist in giving both individuals and corporate clients currency exchange advice can literally save you thousands when buying property abroad.

Find the best exchange rates available to make your currency transaction as smooth as possible - and save you both time and money.

Frequently asked currency questions

Currency exchange services

Why should I use a currency broker as opposed to my bank?
Staff at your high street bank possess neither the expertise nor the market information to either offer you competitive exchange rates or monitor the currency markets on your behalf to help you get the best deal.

How does a currency dealer save me money?
Firstly, by offering better rates of exchange than the banks when you need to trade

How do I set up an account with Moneycorp?
We will open a trading facility for you as soon as we receive your completed Trading Agreement. This will enable us to immediately start monitoring the markets on your behalf.

Buying property overseas?

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Are you a serious buyer who is ready to move forward with your purchase? if so we can provide you with an overseas mortgage quote

Useful resources about the Euro

Euro Information The official UK Government web site for the euro. This site contains information for UK businesses.
Euro 2002 Information Campaign Information, history of the rollout of the Euro, pictures of the coins and banknotes.
The Euro On 1 January 2002 the euro banknotes and coins were put into circulation.
The Euro: Our Currency The official home page of the future single currency. In all the languages of the European Union