It could save you money later on, experts have said
Travel experts have issued new advice to UK holidaymakers planning to visit Spain, France, Greece, and other European destinations. With the weather now notably cooler and the days getting shorter, many people will be thinking about heading somewhere warmer and sunnier.
However, anyone planning a winter getaway is urged to act sooner rather than later, when it comes to changing money. The advice comes as the Pound continues to struggle, with £1 getting you around €1.15 today, down from €1.21 earlier this year.
With the economy stagnating, inflation rising, and the feared Budget looming, specialists have cautioned that the Pound is anticipated to decline further against the Euro to approximately €1.11 before the end of 2025. As such, they’re advising holidaymakers to secure rates and get Euros now to save money later.
Tony Redondo, founder at Cosmos Currency Exchange, said he anticipates the Pound to continue to drop. He added: “The Pound has fallen over four per cent against the Euro in the past year and faces continued pressure heading into 2026 due to recession fears and pre-budget uncertainty. Goldman Sachs forecasts another three per cent decline to €1.11, though some analysts expect range-bound trading given economic troubles across major Eurozone economies.
“British travellers planning winter trips to Spain, Portugal, or European Christmas markets should consider buying Euros now, as Sterling will likely weaken further before the Budget. For better rates, avoid airport exchanges and use pre-loaded travel cards supplemented with small amounts of cash for taxis and street market spending.”
Prem Raja, head of trading floor at Currencies 4 You, is also encouraging people to get their Euros now, and said: “Sterling enjoyed a very positive start to 2025, but we have seen the tide change over the last few months, mostly due to disappointing UK economic figures and worries about the UK Government deficit and spending plans.
“So far we have seen Pound to Euro fall from 1.18 down to 1.14 – with expectations that we could see Pound to Euro one to two per cent lower by year end – this is due to further Bank of England cuts expected and jitters around the next UK Budget. If you are looking to buy Euros, it is probably best to move sooner rather than later to lock in a higher exchange rate.”