Sterling was in uncertain territory yesterday after UK inflation unexpectedly strengthened, but the odds of the Bank of England (BoE) responding with a further interest rate hike remain slim.
American citizen Meghan Markel will soon be joining their ranks after a recent royal engagement.
Details about Meghan’s upcoming wedding to Prince Harry have been dominating headlines, with the latest reports suggesting that the couple will wed at St George’s Chapel at Windsor Castle in May 2018.
Of course, when you’re a Prince and a television starlet, keeping the costs down doesn’t really factor into your wedding plans, but many people decide to get married abroad as it can prove to be a cost-effective way of having the wedding of your dreams.
According to The Telegraph; ‘Compared to getting married in the UK, it can often seem like tying the knot overseas is an absolute bargain. Estimates vary as to how much the average UK wedding costs, but latest figures put it at around £27,000, with numbers in London reaching £38,000.
These figures do look rather large compared to those of the most popular places for Brits to get married abroad. While the average cost of a wedding abroad is said to be £6,585, many places cost a lot cheaper than that.’
So, getting married abroad can be a far more affordable option – giving you more scope to splash out on an incredible honeymoon or invest in all those little touches that make your special day unique.
If your grandmother isn’t the Queen and you want to stretch your wedding funds as much as possible, you can get even more for your money by following our top tips.
- Use a reputable currency broker
- Avoid transfer fees
- Consider setting up a forward contract
- Know what’s happening in the currency market
You could also look into the option of setting a rate alert – where you pick the rate you want to achieve, and your broker lets you know as soon as the market reaches that level.
Corgi pageboys and a commemorative stamp might be a bit beyond your reach, but by following these top tips and making your wedding funds stretch, you’ll have more to spend on making your overseas wedding the day of your dreams.
Currencies Direct is one of Europe's leading non-bank providers of currency exchange and international payment services. Since we were formed in 1996, we've maintained our focus on providing innovative foreign exchange and international currency transfer services to corporations of all sizes, online sellers and private individuals. We have also expanded our services to provide dynamic and pioneering "business to business" solutions to help companies, tier 2/3 banks and other non-bank financial institutions to process their international payments. Our headquarters are in the City of London (United Kingdom) and we have operations in continental Europe, Africa, Asia, and the United States. Currencies Direct is jointly owned by private equity firms Palamon Capital Partners and Corsair Capital.