Pound to euro exchange rate experts share travel money advice amid coronavirus

Coronavirus has caused millions of holidays to be cancelled or postponed.

Not only has it had an effect on travel firms, it has also caused the pound to euro exchange rate to change drastically.

Those who have had trips called off will have a lot of spare travel money lying around with no purpose.

So what do you do with your pound and euro? Should you change it back to your travel money or hold onto it for the future?

An expert has revealed what you could do.

Ian Strafford-Taylor, CEN of Equals, told Express.co.uk : “We’ve found that on average people return from holiday with around £177 worth of leftover currency.

“Those with cash, whether leftover from a holiday or because travel plans were cancelled due to coronavirus, can change their currency back to sterling.

“But this will leave them at the mercy of buy-back rates, which have been hit by the falling pound over the last few weeks.”

The exchange rate expert claims that customers should shop around first before making any decisions.

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He continued: “Savvy consumers should shop around before they change currency back to make sure they’re getting the best offer available and not losing too much money in the process.”

But changing money right now might not be the best idea as some bureaus de change and banks have closed all branches.

Sacha Zackariya, CEO, Change Group International Plc, added: “Due to this, unfortunately, there is no easy solution to change your foreign currency at this point.

“I would, therefore, recommend holding on to this leftover currency until your next holiday or if it is somewhere you are unlikely to travel again then exchange it at a later date.”

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