Good Money Guide Home > Compare Currency Brokers > Get The Best Euro Exchange Rate With These Currency Providers

If you are doing any sort of Euro conversion it pays to compare providers to see who can give you the best Euro exchange rate. High street banks are the worst place to convert money as they generally have poor Euro exchange rates. To get the best rate for large Euro currency transfers, smaller regular money transfers or cash travel money read our guide to the top providers.

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TorFX

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 40
Min Transfer: £100
Max Transfer: None
Customers: 325,000
Founded: 2004
Transfers: £7.5 billion a year
HQ: Cornwall, UK
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Currencies Direct

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 40
Min Transfer: £100
Max Transfer: None
Customers: 325,000
Founded: 1996
Transfers: £7.5 billion a year
HQ: London, UK
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OFX

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 55
Min Transfer: £250
Max Transfer: None
Customers: +1 million
Founded: 1998
Transfers: £82 billion
HQ: Sydney, Australia
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Key Currency
Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ❌
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 42
Min Transfer: £1,000
Max Transfer: None
Customers: 50,000+
Founded: 2015
Transfers: £2 billion a year
HQ: Cornwall, UK
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Global Reach

Personal Transfers: ✔️
Business Transfers: ✔️
Currency Forwards: ✔️
Currency Options: ✔️
Personal Service: ✔️
Phone Dealing: ✔️
Online Platform: ✔️
Total Currencies: 30+
Min Transfer: £3,000
Max Transfer: No limit
Customers: 30,000+
Founded: 2001
Transfers: £6 billion pa
HQ: London, UK
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Check you are getting the best Euro Exchange Rate

You can use the below table of Euro exchange rates against other G10 currencies to check what fees you would pay and what foreign exchange you would receive from currency conversion.

Live euro exchange rates versus other major currencies

CurrencyMid Rate10,000 EurosIf Fees 0.5%If Fees 0.25%If Fees 1%
Australian dollar (AUD)1.563715,637.3915,559.2115,598.3015,481.02
Canadian dollar (CAD)1.435714,357.3014,285.5114,321.4014,213.72
Japanese yen (JPY)132.67791,326,779.491,320,145.591,323,462.541,313,511.69
New Zealand dollar (NZD)1.643416,433.7916,351.6216,392.7116,269.46
Norwegian krone (NOK)9.756097,559.9197,072.1297,316.0296,584.32
United Kingdom Pound sterling (GBP)0.84398,439.228,397.028,418.128,354.82
Swedish krona (SEK)10.0021100,021.2699,521.1599,771.2099,021.04
Swiss franc (CHF)1.071110,711.1810,657.6210,684.4010,604.07
United States dollar (USD)1.160011,599.7011,541.7011,570.7011,483.70

The table displays the live exchange rates display that you would receive from a conversion of 10,000 Euros into other major currencies based on the below:

  • Mid-market price (the price at which banks exchange money)
  • If fees were 0.25% (we would consider this a cheap mark up)
  • If fees were 0.5% (we would consider this an average mark up)
  • If fees were 1% (we would consider this an expensive mark-up)

To manually calculate what mark-up a currency broker has charged you please use our historic mark-up calculator.

What is the Euro exchange rate?

The Euro exchange rate is the price you pay when you buy and sell Euros against other currencies. It is essentially the price of the Euro versus other currencies.

Exchange rates have been in existence for hundreds of years. A currency is measured against other currencies. Before 1971, most currencies were pegged to gold. For example, $35 US dollars exchanged for 1 ounce of gold. That fixed rate system (Bretton Woods) broke down in the early seventies.  Most currencies are now free-floating, meaning the value of a currency fluctuates over time.

Compared to many other currencies, the Euro is a relatively young one. The transition to the Euro from old European currencies like the Italian Lira and Deutsche Mark was completed sometime in 2002. Whilst young, the Euro has become a very important currency. It is the official currency 19 countries within the Eurozone.

Did you know that the Euro was the second most traded currency in the world after the US dollar? In 2019, a Bank of International Settlement surveyed revealed that around $2.19 trillion of the currency was traded every day. This figure is almost 3 times the daily figure for Pound Sterling. Moreover, around 20 percent of the world's foreign reserves are in the Euro.

Associated with the creation of the Euro is the presence of the European Central Bank (ECB). Not only does the central bank manage the monetary policy inside the Eurozone, it also controls the issuance of the Euro. Policies of the ECB significantly impact the movement of the Euro. The current ECB president is Christine Lagarde.

In the next few years, we may see the creation of the 'digital Euro'.

What Factors Influence the Euro Exchange Rate?

The Euro is subjected to multiple factors impacting its current and future movements. Broadly speaking, four factors are always in the calculus of investors and traders:

  1. Economic factors - such as balance of payments, economic policies of major Eurozone countries, inflation, growth rates etc
  2. Interest rates - monetary policies and the level of interest rates
  3. Political factors - such as elections of major Eurozone countries
  4. Market Sentiment - such as positioning of the trades, technicals of rates etc

The issue with these factors is that their importance are time varying. Sometimes the market places more attention on interest rates, sometimes debt policies of major governments are a concern.

These days, the most important policies - economic and monetary - are related to the pandemic.

For example, the ECB has drummed up €1.85 trillion of asset purchases via the Pandemic Emergency Purchase Programme to sustain the Eurozone economies during the past year.

But despite these bond buying programs, the Euro has strengthened, especially against the US Dollar. Why? Because the Fed is printing even more, thus suppressing the value of greenback against other currencies.

These days, it is safe to say that no country wants a strong currency. This makes their exports uncompetitive. The Swiss Franc, for instance, was hyper strong in 2011 but the Swiss National Bank devalued it that year. The Japanese Yen was strong until the BoJ enacted a multi-trillion QQE that devalued the currency massively during 2013-14. Central bank interventions are always possible when a currency appreciates.

Getting the best Euro Exchange Rate FAQ

When you convert and transfer Euros with a currency broker your fixed exchange should be a maximum of 0.5% from the mid-market for currency transfers. To put this in perspective, banks traditionally charge 3-5% which means that if you are sending £100,000 worth of Euros you could save up to £4,500 with a currency broker versus the banks.

Request a quote to see how much you can save – you’ll find a better Euro exchange rate than by using your bank.

Where is the best exchange rate for euros today?

A currency broker like OFX or Currencies Direct will offer you the best Euro exchange rate today for large currency transfers, or for smaller currency transfers you can use a money transfer provider like Wise, or Azimo. For the best euro exchange rate on travel money and cash, the Post Office has a very competitive service. However, the rates that providers offer change all the time so it is worth using our currently transfer comparison tool to see who is offering the best rate today.

Where to find the best exchange rate for euros?

Comparison tables and euro exchange rate quote request forms will help you find the best euro exchange rate. Euro exchange rate comparison tables highlight the key features of currency transfer providers whereas euro exchange rate quote request forms will make currency brokers compete for your business by offering the best exchange rate.

What is the best ever pound euro exchange rate?

The best euro pound exchange rate was in October 2000 when the EURGBP exchange rate dropped to 0.5759. this meant that 1 Euro was worth 0.5759p or to put it another way round it would cost you roughly 57p to buy 1 Euro. The highest it has ever been was when the euro exchange rates was 0.9592 in December 2008 where 1 Euro would have cost roughly 95p.

A few tips on getting the best euro exchange rate:

How do I know I am getting the best euro exchange rate?

Only go with a currency broker that offer fixed and transparent exchange rates and clearly show fees. All fees and charges should be built into the exchange rate. Have a look around currency providers' websites, and if you find that they don’t clearly show how much a currency transfer is going to cost you will need to ensure you get a fixed mark up rate in writing to ensure you get the best euro exchange rate.

Should you convert Euros now or wait for the exchange rate to improve?

If you think the exchange rate is going to go in your favour have a chat with your currency broker. Most have been providing market timing advice to institutions and hedge funds for years and should be able to provide some guidenece on strategy. Or, if you are worried the rate will move against you it is possible to lock in the current rate for up to a year in advance with a currency forward.

How do I know what the Euro exchange rate commission is?

These are included in the exchange rate and are always fixed and transparent. Our exchange rates are always a fixed percentage from the live mid-market.

If you want to know how much the fees will be just ask and we’ll provide a clear breakdown. Read our guide on how to compare exchange rates, which also explains what the fees are and how to calculate them.

Will I really get the best Euro exchange rate?

Yes but you'll have to put a bit of effort it. If you are already using your bank or another currency broker send us a recent transaction and we will send you back a breakdown of exactly how much they are charging you in hidden fees and how our approach to fixed and transparent exchange rates will result in you getting the best Euro exchange rate.

Why buy Euros through a currency broker?

  • Compare the cheapest bank beating currency exchange rates
  • Expert help and advice to reduce your risk and exposure
  • Dedicated account managers every step of the way
  • Convert funds online and platform access 24/7
  • Same day and forward currency exchange contracts
  • Zero service charge, commission or transfer fees
  • Transfer money direct to single or multiple beneficiary accounts

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