More holiday money for British tourists as pound rises against euro

Updated
More holiday money for British tourists as pound rises against euro
More holiday money for British tourists as pound rises against euro

PA



There's good news on the holiday money front as the pound is at its strongest against the euro in 22 months, meaning a trip to the continent might not be as expensive as you think.

The currency exchange rate is now 10 per cent higher than a year ago, which means a family changing £500 will have an extra £50 to spend.

As a result of the £1:€1.20 exchange rate, holiday destinations like Spain, France and Portugal could see an increase in British visitors this summer.

A spokesman for foreign exchange company Travelex said: 'It's good news for Britons buying currency ahead of a trip to the euro zone.

'Weeks of speculation over the future of the euro, Spain's economic crisis, and the political uncertainty in France and the Netherlands, have seen the value of the euro fall to a level not seen for years.'

A spokesman for foreign exchange company Travelex said: 'It's good news for Britons buying currency ahead of a trip to the euro zone.

'Weeks of speculation over the future of the euro, Spain's economic crisis, and the political uncertainty in France and the Netherlands, have seen the value of the euro fall to a level not seen for years.'

The pound has risen 14 per cent against the Turkish lira too, making holidays to Turkey look even more attractive this year.

Eastern Europe is also a good bet with cash savvy Brits as the pound has risen 16 per cent against the Polish zloty, 12 per cent against the Croatian kuna and nearly a tenth against the Bulgarian lev.

Senior broker at Moneycorp Alex Lawson said: 'After a prolonged period of relative weakness, the Pound is on the up. But note that this has less to do with the strength of the British economy – which is officially back in recession – than the market's lingering doubts about the euro.

'Our view is that while this urgency is understandable after a prolonged period of Sterling weakness, there could be an even better time to exchange further down the line. The eurozone is still looking extremely fragile and the Euro could easily fall further.'

Fancy a holiday in Europe this summer? Check out our pick fo the best beach destinations below...

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