Pound euro exchange rate drops as 3rd UK lockdown declared – what to do with travel money

Pound euro exchange rate drops as 3rd UK lockdown declared – what to do with travel money

“Typically, travellers tend to hold on to their remaining foreign currency, as it generally isn’t worth converting smaller sums of money due to poor exchange rates,” founder of currency exchange platform Bidwedge, Shon Alam, said.

“We all do it – get home from a trip and chuck our change in the drawer ready to use for next time, but by the time next time comes around, we always forget about it,” he said.

“According to ABTA in a 2018 report, Brits each took 1.6 holidays abroad, so, in reality, we actually only go overseas around once a year on average. So don’t waste it – change it!

“If you are a regular traveller – for example if you travel monthly or for business – then I would keep currency that you are likely to use again if there are particular locations you travel to regularly.

“However, any longer than that, and I would turn it back into my home currency.”

Published at Tue, 05 Jan 2021 07:41:51 +0000