Currency exchange news: UK could benefit from euro

Currency exchange rates for the euro could one day apply to the UK as business leaders have suggested that the country should join the single currency.

The BBC recently contacted eight senior business figures to discover their opinion on joining the euro.

All of those questioned had previously indicated their support for the move back in 2003.

This year, despite the debt crisis affecting Greece and other countries, the overwhelming majority were still in favour of the move.

Chief operating officer of Ford, Sir Nick Scheele, told the news source: "Despite the debt problems in certain euro zone countries my belief that we should join the euro is based on the fact that 70 per cent of our trade is with euro-based economies."

However, none of the business figures suggested that now was a good time to join up and urged that more needed to be changed before it would be a positive move for the UK.

Click here to see how much you can save with HiFX's Foreign Exchange services

Posted by Sarah Pitton