Holiday money could stretch further
Mr Raja said pound-euro had risen from around €1.15 to €1.20 over the past couple of months. Based on those rounded rates, £500 would buy €600 rather than €575, before fees.
“It’s one of those kind of win-win situations at the moment for people holding pounds,” he said.
Simon Phillips, managing director of No1 Currency, said sterling was worth 5.6 per cent more against the euro than a year earlier. According to his calculations, a family exchanging £1,000 would receive around €65 more.
“Christmas has come early for Britons hoping to catch some winter sun or enjoy the sights and smells of Europe’s famous Christmas markets,” he said.
Mr Phillips suggested travellers with trips already booked could consider exchanging some currency now, while warning that rates can be volatile.
He added: “Rates can differ a lot between different travel money providers, so make sure you shop around for the best deal and never leave it to the airport to get your holiday cash.”
The amount received depends on the provider’s exchange rate and charges.