Currency exchange rate 'tempts Brits to eurozone'

The currency exchange rate between the euro and the pound is reportedly tempting some Britons to holiday in the eurozone.

Tesco Bank has conducted research which revealed that 29 per cent of people in the UK are intending to take a holiday in the single currency area this year.

Improvements in the currency exchange rate were identified as one reason for this preference.

In addition, the report found that 39 per cent of Brits aged between 18 and 34 are intending to spend more on their holiday this year than they did last year.

John Howells, head of travel money at Tesco Bank, commented: "Despite ongoing financial pressures for many people, it seems that holidays are being seen as a well deserved reward by many in 2010."

He added: "If you are going abroad this year, it is important to make sure that your holiday spending stretches as far as it can and it's essential to shop around for the best rate on your currency."

Click here to see how much you can save with HiFX's Foreign Exchange rate

Posted by Chris Barber