£200,000 GBP to EUR
|Units:||One Euro = 100 cents (c)|
|Central bank:||European Central Bank (ECB)|
EUR is the currency of 17 countries within the European Union, known as the eurozone. These are Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal, Slovenia, Slovakia, Estonia, Spain, Cyprus and Malta.
|GBP British pound sterling|
|Units:||One Pound = 100 pence (p)|
|Also known as:||Sterling, quid|
|Central bank:||Bank of England|
GBP is the currency of the United Kingdom of Great Britain & Northern Ireland.
Historical GBP/EUR exchange rate 1999–2021
Typical transactions for 200,000 GBP to EUR:
- Overseas property, such as a holiday home
- Transfer of assets for a retirement overseas
- Purchase and sale of luxury items such as yachts and fine art
- Business sales
- Pension pots, SIPPS and QROPS
Your trading options for 200,000 GBP to EUR:
For a £200,000 GBP to EUR trade on the day, or in the very near future, most clients use a spot trade to convert their pounds to euros. This is the simplest and most direct way to make an immediate transaction at today’s exchange rate.
Due to the extended and complex nature of a typical 200,000 GBP to EUR transaction, a forward contract will often be more appropriate.
A forward contract allows you to pay a small deposit to lock in today’s exchange rate for a certain length of time, usually a year.
That way, if during the legal processes for buying a property abroad, for example, the exchange rate changes, you will still be able to transfer your 200,000 GBP to EUR at the rate you agreed.
See the step-by-step process for a 200,000 GBP to EUR forward contract here.
200,000 GBP-EUR case study: “We would have had sleepless nights…”
When Debbie was buying a €200,000 property in France, she saw the price move by over £13,000 during the purchase process due to GBP/EUR exchange rate changes.
Read about how she protected her dream home purchase abroad.