The pound is benefiting from a slightly weakened euro - but is it all good news for travel money ?
THE POUND benefitted from a 2-month high against the euro, however, struggles still remain as political talks are ongoing. How can tourists ensure they get the best exchange rate s?
and holidaymakers, these impending changes may make it difficult to determine when the best time to exchange travel money is.The Post Office is currently offering a rate of €1.1448 for £400 or more, €1.1614 for £500 or more and €1.1673 for £1,000 or more.
Pound to euro exchange rate: How will the changing political landscape affect British travellers?(Image: Getty Images)Kate Middleton carries these items in her handbag when she travelsIan Strafford-Taylor CEO of international money specialist Equals advised: “The safest way to guarantee getting an exchange rate you’re happy with is to lock-in the rate on a prepaid card when the pound is doing well.”
Prepaid travel money cards allow holidaymakers to load them with cash before they go abroad and then use them as you would a debit card to withdraw or spend money as you wish.The benefit is that you secure an exchange rate at the time of purchase, which means you could hold onto a beneficial rate even if they drop soon after.
“It also means you avoid losing money when you return from your trip and have to change any leftover cash back into pounds if the exchange rate has worsened,” adds Strafford-Taylor.TrendingPound to euro exchange rate: A map of currencies across Europe
(Image: DX)Even if you manage to get the best rates going, it turns out many travellers miss out on cash at the end of their trip by forgetting to switch it back into sterling.CEO of WeSwap, Jared Jesner said: “Holidays are more often than not the biggest event of the year for British families, however, there are many hidden costs that arise when abroad which many holidaymakers may not think about - and this can prove to be costly.
“Our research confirms that a huge amount of money goes to waste every year, but holidaymakers should rest assured that there are ways to ensure their hard-earned money stretches as far as possible.“He added: “Swapping holiday currency back to Sterling may get you more money than you first thought.”Read more: Daily Express »
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