Spain most popular destination for currency transfers

Friday, February 17, 2012

Spain most popular destination for currency transfers

Spain was the most popular destination for currency transfers last year, with favourable FX rates on the euro likely to encourage even more expat investments this year, according to Currency Index.

The company saw almost a quarter of their transfers made to and from Spain in 2011, reinforcing the country's ranking as a top holiday and investment destination. But the company expect investments to pick up even more in 2012, with current calculations showing that expats can get eight per cent more for their money than they would have done buying euros in July last year.

Other currency firms were also positive about what the euro rate could to for the overseas property market in the coming year “With 2012 seeing the pound trade consistently around 16 month highs against the single currency, there is every chance that we will see a further increase in property being purchased in the eurozone,” commented William Poole, of FC Exchange.

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A Place In The Sun