On the Money Markets…

Rational FX, the currency transfer specialist, reports an upward trend in large transactions moving to Tenerife which may be directly attributed to an increase in property purchases.

According to Paresh Davdra of Rational FX, there has been more positive news from the UK which has caused the Pound to rally against the Euro. There has also been a lot of speculation that the Pound has been massively undervalued against the Euro and the Euro still has a lot of bad news which has not been addressed as yet.

We have recently seen the Pound go through the 1.15 psychological barrier but we need it to sustain this level to see it go further. One of the main things that need to be controlled is unemployment and if this does spiral out of control we could see the UK on the back foot again!

On the back of this, Rational FX have seen a big turnaround in the number of people buying Euros for overseas properties in Tenerife.  Davdra notes, “In the last four months the number of people buying property in Tenerife has increased by 32% and we believe that this will only improve. It also gives the idea that this is the right time to buy as you will pick up a good deal!”

If you are planning to buy a property or making regular transfers in a different currency, contact Rational FX and see how much you could save!