Currency Index News
Brits in the dark over currency conversion
New research from the DCC Forum highlights UK consumers’ ignorance around foreign currency exchange rates. The research, released today to mark the launch of the DCC Forum, was conducted with YouGov across more than 2,000 UK consumers and asked Britons to convert £1 into its equivalent value in euros. Only one in ten respondents provided an accurate estimation, identifying that £1 converts to roughly €1.4.
What does Sterlings strength mean for holiday makers
Mark Bodega, director at foreign currency specialists, HiFX, outlines what sterling’s strength means for holiday makers
European holidaymakers at unnecessary risk using cash abroad
Many Europeans will put themselves at risk of losing money they cannot replace when holidaying abroad this summer by continuing to carry significant amounts of cash with them while away. According to MasterCard Europe, despite spending the equivalent of a full working day planning for their holiday in an effort to ensure maximum peace-of-mind and control of both time and money, holidaymakers are failing to see the benefit of opting for cards over cash.
Top 20 most expensive cities in the world revealed in new study
A new study examining the top twenty most expensive cities in the world has been released with some perhaps surprising results. While most of the places hard on the wallet were in Europe, it is Scandinavia where tourists are urged to watch their pennies most closely.
Sterling surges against the dollar
With UK inflation rising, further divisions are forming among the members of the MPC. Today’s minutes of the last meeting revealed that the number of members voting for a rate rise increased from two to three.
Brits waste £800m a year on un-exchanged currency
A new study by the UK’s fastest growing online independent travel agent has looked into the amount of money tourists are losing out on by not exchanging their left-over foreign money back to British pounds, after returning from their holiday.
Brits were determined to take annual summer holiday despite the economic climate
Whilst Brits may have left it to the last minute to book , it appears the annual summer holiday is here to stay in spite of the current economic climate, according to the latest American Express Global Foreign Exchange Services Currency Index.