Holidaymakers are finding that £1 buys less than a euro at some airports’ bureaux de change, as the slump in sterling drives up holiday costs. In the week that sterling slipped to a new three-year low against the euro following the Brexit vote, researchers found that bureaux de change at Stansted and Luton airports were offering just 99 cents for every pound exchanged. The rate on offer at the ICE (International Currency Exchange) bureaux de change at Luton airport was even lower at €0.9900. The rates offered to those who turn up at airport bureaux de change without pre-booking their holiday currency have long been poor, but appear to have hit a new low. It added that airport bureaux de change had a captive audience, “which means that in spite of poor rates, they will still have a large customer base”.

Source: The Guardian August 17, 2016 17:41 UTC