Foreign exchange comes to UK tourist resorts

A new initiative has been launched by a number of tourist resorts in the UK that will see visitors able to pay with euros.

In a move that could see more people using foreign exchange services in the towns, Poole and Bournemouth have both begun accepting euros in a bid to encourage more European visitors - as well as offering a place to stay for returning Brits.

Jeremy Cook, chief economist at foreign exchange broker World First, said that allowing Brits to exchange leftover euros "for goods at south coast holiday resorts is a neat ploy to make a quick break that little cheaper".

Although primarily aimed at Britons spending leftover euros, the scheme could prove a hit with many Britons who have emigrated and who do not want to transfer their money into sterling while the foreign exchange rate is poor.

According to recent research from M&S Money, 36 per cent of Brits take into account the strength of a country's currency before travelling abroad.

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By John Mills