Pound regains strength following Scotland ‘No’ vote
14 Sep 2014
• Sterling up 8% against the Euro compared to this time last year
• Brits cashing in on extra €45 (£36) per £500 exchanged
The Pound has climbed an impressive 8% against the Euro compared to this time last year, reaching a strong 26 month high against the European currency.
This follows an earlier slump in the strength of the Pound, largely attributed to currency uncertainties around the Scottish referendum, which saw the pound drop to a ten month low against the US Dollar during the first week of September. The Pound’s strength has jumped 2% in the last two weeks alone.
Those heading to Europe this autumn can now bag an extra €45 (£36) per £500 they exchange. David Swann of Travelex comments; “We saw consistent growth of the Pound in early 2014, which was unsettled this month due to consumer’s concerns over the Scottish referendum and what implications it would have on currency. It’s reassuring to see the Pound back on track – no doubt also helped by the Bank of England’s moves towards increasing interest rates.”
For people who are keen to track the strength of the Pound, the Travelex Rate Tracker does the hard work for you by sending alerts when specific currencies reach a significant high or low.
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.