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International industrial projects promise opportunity, but also bring complications. For project leaders, engineers and logistics professionals, the question isn’t whether challenges will arise, but how they’ll be managed. From variable infrastructure to customs compliance, successful delivery across borders requires foresight, flexibility and the right partners.
GBP/EUR remains flat even after positive GDP data released
With many in the Eurozone trading the Euro is always one to watch and the past month has seen a staggered decrease of the British Pound Sterling to Euros. Earlier in the month reaching over 1.1975 to todays rate which stands at 1.1608.
This is thought to be due to last weeks UK GDP data provided grounds for encouragement regarding the future prospects of the British economy. The figures revealed that the UK PLC’s economic recovery appears to have gained traction in recent months with GDP expanding by 0.8% during the third quarter of this year. However GBP/EUR remains slightly flat.
Keep an eye on the rates and consider booking a forward when they reach what you wish to achieve. Whether you need to make a one off payment or multiple bookings, you'll have the advantage of knowing that once you have booked a Forward; your rate is locked in for up to 12 months ahead. This means you'll know exactly the amount of currency you'll get when you need to make your money transfer particularly if you're a business, this will make forecasting a lot simpler!
Register to book a forward contract with Startup Overseas currency service.