We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Secured Loans > Sales of euros surge due to strong sterling

Sales of euros surge due to strong sterling

6th May 2015 | Published by Evo Money

Thousands of Britons are cashing in on the strong pound and buying their euros weeks or even months in advance of their summer holidays, say foreign currency brokers.

Travel agency and foreign exchange broker, Thomas Cook, reported a surge in the number of customers buying European holidays and the amount of euros they were buying. The number of euro transactions were up by one third from the same time last year it said, whilst sales by value were up by 65 per cent.

During the last two weeks alone, Thomas Cook said they had sold more than 31 million euros, at a cost of £22.8 million.

The head of exchange at Thomas Cook, Fraser Millar, said that some customers were buying euros in advance of their summer holidays while others were buying them before they had even booked a holiday.

The Post Office also said that its sales of euros were up by more than fifty per cent on the same time last year. During the last week in January when the euro was at its lowest against the pound, sales rose by as much as 363 per cent.

Saga Travel reported that its euro sales between February and April were twice as much as they were during the same period last year. Asda Money reported an increase of 20 per cent.

Andrew Brown, of Post Office Money, said that customers are more likely to choose their holiday destination based on where they can get the best value for their money.

The pound is not only strong against the euro but has also made gains against other popular holiday currencies, such as the Turkish lira and the Thai baht. Sales of the Croatian kuna increased by 91 per cent in April of this year, compared to the same month in 2014.

Category: Money
This post was written by Evo Money
Warning: Late payment can cause you serious money problems. For help, go to moneyhelper.org.uk
Representative 28.96% APRC (Variable) - For a typical loan of £20,950 over 85 months with a variable interest rate of 23.00% per annum, your monthly repayments would be £537.44. Including a Product Fee of £2,095.00 (10% of the loan amount) and a Lending Fee of £714.00, the total amount repayable is £45,682.15. Annual Interest Rates ranging from 11.7% to 46.5% (variable). Maximum 50.00% APRC. The loan must be paid back by your 70th birthday. Read more.

Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
© 2024 Evolution Money | Cookie Policy | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution