Monday, 16 July 2012

Pound bounces higher

Holidaymakers going to the eurozone are getting 15% more for their money than a year ago.

Jitters about the debt crisis across Europe have knocked the euro and pushed the wholesale rate up to levels not seen since October, 2008.

The pound rose again this morning, to 1.2736 euros.

Of course, you get less at the bureau de change, but still a much better rate than before. Here are a few of today's retail rates:

Caxton FX currency card                 1.2450
Sainsbury online                             1.2430
Thomas Cook (reserve and collect)   1.2360
Travelex online                                1.2350
Post Office                                      1.2340
High Street                                      1.2100

It's a very volatile situation but some currency experts are predicting the euro will fall even further.

Not the same story with the dollar. Travellers heading over the Atlantic will find that their pounds buy them fewer dollars than a year ago.

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