With so many British visitors to the island, the subject of the exchange rate is never far from people’s minds in Lanzarote.
The Pound / Euro rate this year has been pretty steady, after a big early drop. 2013 actually started with a high of €1.23, but quickly fell to a low in March of €1.14. Since July, the rate steadily climbed to reach the heady €1.20’s during November, and now seems to have settled around the €1.19 mark. You can see today’s rate here: Lanzarote exchange rate
Most visitors now simply get their cash here by using the numerous cash machines – it’s especially economical for those who have bank accounts that don’t charge a commission on foreign currency transactions.
But for larger amounts, or for a regular monthly payment to cover a mortgage here, for example, it’s much cheaper and more efficient to use a specialist currency broker. We’ve been using Foremost Currency Group for almost ten years now, and we’ve recommended them to many friends. They can often achieve a 5% saving when compared to your own bank, and they have a dedicated account manager just for Lanzarote Information readers, Arron Morris.
You can find out more about them here, and fill in a form to make an enquiry: Foremost Currency Group