Longer Haul Travellers Advised to Plan Ahead for Travel Money

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Post Office Travel Money research reveals wide variation in foreign exchange rates for more exotic foreign currencies.

People may think that rates offered are all the same, but in fact they vary tremendously depending on the foreign currency. UK tourists who don't check the rate offered for the currency they need could end up with less travel money to spend on holiday.

Post Office Travel Money is advising holidaymakers looking to voyage further afield than the eurozone to be plan ahead when purchasing their travel money. Post Office Travel Money research has found that foreign currency exchange rates for popular mid- and long-haul destinations vary widely across the UK's different bureaux de change.

Post Office Travel Money suggests that holidaymakers heading to more far flung locations should carefully check the exchange rates offered by local bureaux. For example, research showed that foreign currency exchange rates for Turkish Lira and also for the East Caribbean Dollar used in islands such as Antigua and St Lucia, differed significantly between purchase on the high street and at airports.

Holidaymakers leaving it to the last minute to buy foreign currency at the airport may find it convenient, but the Post Office survey established that this would be a costly mistake. Comparing its own rates for 12 currencies, the Post Office found that travellers buying travel money at the airport could pay up to seven per cent more.

Sarah Munro, Post Office Head of Travel Money, said: "People may think that rates offered are all the same, but in fact they vary tremendously depending on the foreign currency. UK tourists who don't check the rate offered for the currency they need could end up with less travel money to spend on holiday."

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