Pound up against the Euro in time for festive breaks

Dec 1, 2010   //   by sam   //   Latest Updates  //  Comments Off on Pound up against the Euro in time for festive breaks

According to travel money expert International Currency Exchange (ICE), those looking to get away this year for a festive break should consider the Eurozone.

Whether it’s a skiing trip you have in mind or you want to check out the Christmas markets, you should expect to get around 30 Euros more to spend based on a currency exchange of £500 thanks to a 5.8% rise in the value of the Pound against the Euro compared to December last year.

The Euro is one of the few foreign currencies that has dropped in value year on year against the pound, which has risen above the likes of popular winter sun destinations such as Mexico, Thailand and Australia both in value and sales volumes.However, even with the cultural delights of Europe on Britain’s doorstep, our love of long haul holidays has failed to be tainted by the poor performance of the Pound.

ICE saw a 30% increase in the sales of Australian Dollars compared to October, which has admittedly been influenced by cricket fans heading to Australia to see the Ashes. Figures have show that the Aussie Dollar is now the third most ordered currency from ICE, despite an 11% increase against the pound.

According to ICE, the Pound also fell against the Mexican Peso by almost 12% year on year and despite strong sales of the Thai Baht for this ever popular winter destination – which is currently 4th in the ICE currency chart, Brits are getting 16% less for their pounds compared to last year.

Joanna Williams, Head of Marketing for ICE said:

Many Brits can’t wait to get away at Christmas and New Year. In fact, in a snap survey of our customers, 62% said they were planning a trip abroad during the holiday season. Fortunately this appetite for winter sun and ski holidays doesn’t seem to be diminished by the less favourable exchange rates we are seeing compared to last year. It just makes it all the more important for travellers to plan ahead and shop around for competitive exchange rates online and in specialist foreign exchange bureaux.

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