Pound climbs to above $1.70 mark
16 Jun 2014
- Pound hits $1.70 for the first time since 2009
- Pound up 14% against US Dollar versus 11 months ago
- The Pound has climbed to over $1.70 for the first time in over five years following the Bank of England announcing they would welcome an increase in interest rates.
- Compared to this time 11 months ago, the Pound is up 14% against US Dollar, meaning Brits exchanging £500 can pocket an extra $103 (£62).
- The Pound has also made gains against the Euro, rising eight per cent versus ten months ago – meaning an extra €45 (£36) on every £500 exchanged.
David Swann of Travelex comments: “The Pound has been making progress against the US Dollar in recent months but achieving over $1.70 marks a turning point. Brits who’ve previously calculated costs in the US by taking two thirds to be the cost in Pounds will now need to adjust their thinking.”
Holidaymakers keen to lock in today’s exchange rates should consider a prepaid card such as the Travelex Multi-currency Cash Passport. Users can top up their card online, by phone or in store whenever they feel the rate is in their favour – then keep their currency safe and secure until and during their travels.
Travelex is the world's largest foreign exchange specialist with almost 1,500 stores and 1,250 ATMs across 28 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.