Exchange rates are an expression of the value of one currency in relation to another. They are volatile, varying from day to day and place to place. In late 2010, for example, 1 pound was worth 1.19 euros. Converting pounds to euros is a fairly simple computation, as is finding a place to make the exchange.
The countries that use the euro are Austria, Italy, Belgium, Luxembourg, Finland, Netherlands, France, Portugal, Germany, Spain, Ireland, Cyprus, Slovakia, Malta, Slovenia and Greece. European countries besides Britain that do not participate are Sweden, Norway and Switzerland. Countries in neither group have not met the economic requirements for participation.
Find out the day's exchange rate by calling a bank or going online. Enter "currency exchange" or "pounds to euros" in the search field.
Multiply the number of pounds by the day's exchange rate. If 1 pound is worth 1.19 euros, 45.4 Kilogram is worth 119 euros.
Visit an online currency converter that will do the computation automatically (see Resources).
Take your British pounds to a currency exchange booth, located in all international airports. The clerk will calculate the conversion based on the day's rate of exchange. Expect to pay handling and transaction fees.
Check the Yellow Pages under "Currency Exchange" if you are making your exchange in the United States. Call to inquire whether it has euros on hand.
Take your pounds to a bank and ask to have them exchanged for euros. Banks around the world exchange currencies. If the bank is in a small town, call first to make sure it has euros on hand.
Avoid black market exchange agents who may approach you in a foreign city and promise you a higher rate of exchange.
Tips and warnings
- Avoid black market exchange agents who may approach you in a foreign city and promise you a higher rate of exchange.