On the UK’s big summer holiday getaway weekend, airports have offered very poor rates for sterling after difficult week on forex markets
British holidaymakers heading to Europe for this weekend’s big getaway are being offered what may be the worst ever foreign exchange rates at British airports – in one case, just 88 euro cents for every pound they hand over.The 88 euro cents offered at Cardiff airport followed a difficult week for the pound on the foreign exchange markets, where sterling fell to its lowest level for eight months to €1.11.
Travellers flying out of Gatwick, Luton and Birmingham on Friday were all being offered less than a euro for each pound, unless they had pre-booked their currency.
As thousands of parents who had been waiting for the start of the school holidays spent yesterday packing suitcases, the pound completed a terrible week falling to its lowest level for eight months – to €1.11.
It means cycling fans using their credit cards at the denouement of the Tour de France in Paris on Sunday will get an exchange rate of around €1.08 once the credit card firm has added its commission.
But it also allowed the airport foreign currency providers to slash rates – on what was set to the busiest day ever at British airports. The Forexchange at Cardiff airport on Friday cut its walk-up rate to the point that a pound would buy just 88 euro cents. Experts said that was possibly the worst euro exchange rate ever seen at any UK airport – traditionally the most expensive places to buy foreign currency.
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