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Caxton FX looks at the new top four currencies you should be buying now

30th August 2014 Print

With the announcement that the UK economy is growing at its fastest pace in six years, Caxton FX, a leading international payments company and currency card provider has seen an increase in consumers sending money abroad or purchasing currencies outside of the EU.

Here are Caxton FX’s top four countries where you should be purchasing currency in now:

Turkey
For British residents, this attractive market offers the promise of a generous return. Turkey is one of the fastest growing economies making it a top spot for British investors, however the current strength of the British pound against the Lira makes it a haven for holidaymakers too. With the British economy heading from strength to strength, £100 today, would buy Brits TRY358.45*.

Thailand
Despite the military coup earlier this year, Thailand has always been a top holiday destination for Brits Currently the Thai Bhat offers THB5,289.60* for every £100 exchanged, great news for travellers, particularly gap year students looking to head to southeast Asia this autumn.

Czech Republic
The pound reached a six and a half year high against the Czech koruna this month, climbing to its highest level since January 2008. With the cost of living in the Czech Republic already 48% below the UK average, making Prague a favourite holiday destination for stag parties and hen parties. With £100 buying CZK3493.00, the Czech Republic could now be a very economical holiday option for families and party-goers alike.

Hungary
Sterling rose to a seven and a half year high against the Hungarian forint this month, rising above HUF400 for the first time since October 2006. As Philip Hoey, Senior Account Manager for Caxton FX observes “with the Hungarian government recently engaging in an aggressive bid to reduce the country's reliance on outside debt, and Hungary's credit rating remaining at junk level, we could see the forint remain weak for some time to come.” £100 currently buys HUF39385.00.

For further information about Caxton FX, visit caxtonfx.com.