Pound flies to reach one-year high against Euro
23 Jan 2014
The Pound has soared to reach a one-year high against the Euro, following the news that the UK unemployment rate has dropped to 7.1%.
This news provides a strong indication that the UK economy is well on its way to recovery, which has fuelled confidence in the Pound and led to a boost in its strength. Compared to March 2013, the Pound has increased by seven per cent against the Euro, meaning an extra €38 for every £500 exchanged.
David Swann of Travelex comments: "The Pound's high is well-timed for those suffering from the January Blues and looking to get away. With the UK economy seemingly on the mend, British holidaymakers can hope their Pounds will stretch further abroad in 2014."
For those looking to make the most of the Pound's current rate against the Euro, the Multi-currency Cash Passport allows users to lock in an exchange rate ahead of their trip. It is chip and PIN protected meaning their holiday money will be safe in the lead up to and during their trip.
Travelex is the world's largest foreign exchange specialist with almost 1,500 stores and 1,250 ATMs across 27 countries, at key airport, seaport, rail and tourist locations. Over 40% of travellers - 1.7 billion passengers a year - pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Paris, Sydney & Tokyo. Every hour, Travelex provides foreign currency to more than 2,000 customers.