Londoners most likely to jet off in 2010 - but risk losing out on foreign currency

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Post Office Travel Money advises holidaymakers to arrange their foreign currency well in advance of travel

New research by First Rate Foreign Exchange Services has revealed that Londoners are the most likely to take a holiday abroad this year, with more than 68 per cent saying they intend to jet off to foreign shores.

However, even with so many Londoners planning to travel abroad this year, research carried out by Post Office Travel Money reveals that people from the capital may be paying over the odds for their foreign currency by leaving foreign currency exchange to the last minute.

The Post Office research found London travellers to be the worst offenders in the country when it comes to waiting to exchange their sterling for foreign currency, with 10 per cent purchasing their travel money either the day before they travel, on the day they go or even at the airport .

Buying foreign currency at the last minute could cost UK holidaymakers up to 10 per cent more than purchasing it in advance. Due to poorer foreign currency exchange rates and higher commission fees sometimes offered by airport bureaux de change, in fact buying travel money at the airport could cost an average of £86 more than if it is bought in advance.

In light of this research, the Post Office is reminding holidaymakers to organise their travel money in advance to ensure they get the best deal on their foreign currency.

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