“What is pound versus Euro today?” is the most asked question on Facebook, email, or anywhere else where readers connect with us. Especially since Brexit, and with the Pound fluctuating more than ever.
There are a large number of booze / cigarette / electrical shops on the island that offer money exchange as a sideline. Most display a rate outside the shop, and then claim that’s the rate for travellers cheques, before offering a cent less for cash.
The trouble is, the market is so volatile at the moment, that the rate is changing several times a day.
And all that means we can’t keep up with the latest rate being offered in the resorts.
So here’s an easy rule of thumb that will give you a pretty good guide as to what rate is being offered at this very moment.
Check the current Interbank Rate online and subtract 2 cents.
It’s actually that simple! We check this regularly, and it’s pretty accurate. The rates at the local shops are always around 2 cents less than the interbank rate.
Just Google “pound versus Euro” and Google will give you the up to the minute rate. As you can see from the screenshot, when I did it just now, the rate was €1.12. Based on that, you can expect the shops will be offering €1.10 at this moment.
Find out more about currency exchange: Lanzarote currencies.