We are two months away from the June Holidays, and for families we have yet to have a plan to travel, this article might be of help to you. Forex Watch is an initiative started out by Dollarsandsense.sg to help Singaporeans better make travel decisions based solely on the exchange rate.
Read also: http://dollarsandsense.sg/forex-watch-best-places-for-singaporeans-to-travel-to-in-july/
We bring about good news for fans of any Barclays Premier League football team who dreamt about visiting the stadium of their favourite football team. It is now more affordable to plan a trip down to England than it is at any time over the past 2 years. We say the same for lovers of Burberry and Ted Baker who has plan to travel and shop.
The exchange rate of the British Pound against the Singapore Dollar stands below 2.00 at about 1.95 at this point of time. Below is a chart demonstrating the exchange rate between British Pound against the Singapore Dollar.
A vote on June 23 will certain the doubt of a possible release of U.K from the shackles of the European Union. Investors and traders are looking for possible insurance against the uncertainty underlying the currency. If the breakup with the European Union is certain, we expect the Pounds to depreciate even further. That might be even more good news for Singaporeans looking to travel to England.
It is definitely cheaper for a Europe getaway now than five year back.
The deepening crisis in Greece and the European Central Bank’s quantitative easing programme are some of the major factors that contributed to the downward pressure on the Euro. Such pressure is demonstrated by the chart below, showing the exchange rate between the Euro against the Singapore Dollar.
On top of that, a ” Brexit” as mentioned above, may hurt the Euro as much as it hurts the Pounds.
DollarsAndSense.sg is a website that aims to provide interesting, bite-sized financial articles which are relevant to the average Singaporean. Subscribe to our free e-newsletter to receive exclusive content not available on our website. Follow us as well on Instagram @DNSsingapore to get your daily dose of finance knowledge through photos.