High demand for Brazilian currency

Updated: 

Post Office staff to strike again

Two major foreign currency providers have reported dealing with "unprecedented" demand for the Brazilian Real as England fans prepare for the World Cup.

The Post Office said it has had to replenish stocks for its 11,500 branches after running low on the currency, while Travelex said that a 1,050% increase in demand meant it has been experiencing a temporary shortage at Heathrow and Manchester airports.

The Post Office said it has seen a 400% uplift in sales of the Real over the past week, compared with the same period last year. But it has been stocking back up and currency can be pre-ordered in a branch for next-day collection.

Travelex said it is working to redistribute stock around its network.

Andrew Brown, of Post Office Travel Money, said: "The unprecedented demand for Brazilian Real suggests that large numbers of football fans will be making the journey to Brazil to support the England
team.

"Although this resulted in a temporary lack of availability of the currency in our branches, we have taken steps to ensure that there are stocks in branches in the coming days."

Mr Brown suggested it is also advisable to "take a small mix of US dollars, which are widely accepted throughout the country".

Elvin Eldic, head of UK retail at Travelex, said: "Being one of the few FX (foreign exchange) providers who stock Brazilian Real we are seeing unprecedented levels of demand, with sales up 1,050% compared to the same time last year.

"As a result, we are currently experiencing a temporary shortage at our Travelex stores in both Heathrow and Manchester airports.

"We are currently working hard to redistribute stock across our retail network and are expecting a large delivery of Brazilian Real within the next few days in time for fans travelling to Brazil for England's kick-off against Italy."

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