Brits benefitting from exchange rates

Britons are increasingly likely to make foreign exchange transactions in Europe, it has emerged.

Comparison website travelsupermarket.com recently revealed that favourable exchange rates are encouraging more people to stay in the eurozone.

Bob Atkinson, travel expert from the portal, explained that destinations, such as Spain, are likely to see an influx of Britons making foreign exchange transactions due to the strengthening pound.

"The eurozone is not as bad as you thought it was now that the pound has come back," he said.

"Spain has not died; it is not the end of Spain and the eurozone. The euro is back at 1.16 [euros to the pound] anyway so it is climbing back," he said.

In addition to Europe, countries that have seen more Britons exchanging money are Turkey and Egypt, due to the location's affordable living costs.

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By John Mills