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Brits travelling to Europe could benefit from exchange rate

Brits travelling to Europe could benefit from exchange rate

- Wednesday, 4 August 2010

Britons who are planning on holidaying in Europe will have extra cash for spending money, which could help those living with debt problems.

The strength of the pound against the Euro means that the exchange rate is in the UK consumer's favour and savings can be made, suggests currency.co.uk.

Almost 29 per cent of holidaymakers will be travelling to Europe this year and they could all save money if they find the best deals for exchanging their foreign currency.

Stephen Hughes, director of currencies.co.uk, said: "With sterling recovering some of its strength against the ailing single currency, Brits holidaying in Eurozone countries will feel much better off after the painful experiences of 2009."

It is relatively easy for a consumer to obtain debt problems by going on holiday as each UK holidaymaker spends on average £702 each on shopping, bars and eating out.

The Consumer Credit Counselling Service recently advised consumers to save up for a vacation overseas rather than borrowing money through a personal loan as this can lead to financial difficulty.ADNFCR-2300-ID-800012358-ADNFCR
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