Currency exchange rates 'more important than ever'

Currency exchange rates are more important than ever when making holiday plans, it has been suggested.

Mark Bodega, director of HiFX, said that the pound's "strength and volatility" could result in consumers seeing real changes to the cost of their holiday this year.

Countries in the eurozone will offer the best value currency exchange rate compared with last year, as will the US and Hungary.

However, the currency exchange specialist warned that Australia and Japan could prove more expensive for Brits compared with last year as the pound has fallen against these countries' currencies by 15 per cent and 13 per cent respectively.

Mr Bodega commented: "We all want to make the most of our holiday money and make sure we have enough cash on holiday to do everything we want to do.

"There's no quick win to guarantee this, but you'll be better off if you shop around for currency before leaving, use cards sparingly abroad and remember that cash from credit cards is costly."

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Posted by Eleanor Ward