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Pound keeps falling as airports exchange bureaus cash in

Monday, October 17, 2016

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UK: Holidaymakers are already feeling the pinch of the falling value of the pound. 
Many UK airports are now paying less than 1 euro to 1 pound. Airport currency exchanges are not known for being particularly competitive, especially when pitted against their high street rivals, but this a new low for both the currency and for British travellers.
The BBC reported that 17 bureaus de change, at separate airports across the UK, are paying less than 1 euro to the pound.
Citing a survey by FairFX, the report states that the price at the airport exchange booths is significantly less than what banks are trading the currency for between themselves.
Seasoned travellers will know that it is best practice to exchange currency prior to arriving at the airport. Many will be left shocked at the current rates, given that it is a blatant attempt to keep the profit margins high at the expense of passengers.
In their defence, currency exchange companies have previously attempted to justify their prices, stating that they have high running costs due to their long opening hours.
With many financial speculators predicting that the value of the pound will continue to drop, travellers can expect to feel it in their pockets when travelling from the UK.