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Pounds 'could stretch further than expected on Algarve holidays'
Recent exchange rate fluctuations could mean that British travellers' budgets stretch further than expected during Algarve holidays this summer.
That is according to Sarah Munro, head of Post Office Travel Money, who pointed out that the pound has recently recovered some of its value against the euro.
Sterling has gained almost ten per cent on the single European currency since March, meaning British consumers planning an Algarve holiday will now get around 2.4 per cent more euros for their pounds than last year.
"Holidaymakers planning a trip to Europe this year may find themselves with leftover currency after their trip, especially those heading to eurozone destinations," Ms Munro said.
She also referred to recent Post Office Travel Money research which showed that living costs in Portugal and Spain have fallen by around 40 per cent year-on-year, which could provide a significant boost to people taking villa holidays in the region.
"Those planning a trip to the Algarve or Costa del Sol this summer may find their pounds stretch further than they expected," Ms Munro commented.
Posted by Corrine Moore
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