Britons are sitting on billions of pounds-worth of left over holiday currency, according to a new report from Debenhams Personal Finance.
The euro fell across the board Wednesday morning after the release of economic growth figures showed that the eurozone economy remained in recession for a record sixth consecutive quarter.
British travellers are wasting an average of £5.99 on charges imposed by some debit card providers every time they make an ATM withdrawal in the most popular foreign destinations.
Sterling gained around one per cent against the Dollar and the Euro following the release of the eagerly awaited first quarter growth figures Thursday morning.
Despite the pounding taken by sterling this year against the euro, holidaymakers planning trips to a European hotspot may find their holiday cash stretches further than expected because prices have plummeted in many popular resorts.
Nearly one in five (19%) would be holiday-makers have given up on a foreign holiday this year due to the continuing weakness of the pound, according to findings from independent market research firm Consumer Intelligence.
Low prices and sterling’s stability against the forint have helped Budapest power past Riga and Prague to take the top spot in Post Office Travel Money’s annual City Costs Barometer.
The Pound gained across the board on Wednesday morning following the release of the minutes of the Bank of England's meeting this month which showed that the vote on additional quantitative easing remained three members against six.
As holidaymakers in search of winter sun face the double-whammy of a weak pound and rising hotel room rates in long-haul destinations such as the Middle East and Asia, Doug Gowan, Head of Travel Money at Tesco Bank offers the following advice when purchasing foreign currency:
Since the very beginning of 2013 the British Pound has found itself under relentless pressure as concerns about the state of UK Plc pervaded global financial markets.
Mounting pressure on UK high street banks to be more transparent about the costs of add-on products, fuelled by the mis-selling of Payment Protection Insurance, could lead to an overhaul of banks’ fee structures and the introduction of charges just for holding an account with them – an unwelcome concept, but one that people experience every day when they move or buy property abroad.
Jet setters heading off for a half term holiday of sun or ski should add two crucial items to their pre-holiday check list says MoneySupermarket.com - getting the best value deal on holiday money, and getting the right insurance.
A nationwide foreign currency provider has released new statistics which reveal that UK holidaymakers are shunning long haul destinations in favour of short haul, cost effective holidays in Eastern Europe.
As the recession takes its toll, many Brits with second homes abroad are being forced to sell up and return home.
Mail order holiday money company, Travel FX, has earned an impressive 34th spot in the Sunday Times Fast Track 100 unveiled this weekend.
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