Crete holidays: Pound reaches 18-month high against euro

Travellers planning a trip to a eurozone destination, such as a Crete villa holiday, might want to acquire their foreign currency soon following recent exchange rate developments.

The Post Office released its latest Travel Money Monitor on June 15th and revealed that the pound has recently gained some ground against the single European currency.

Sterling recovered from its year low in March and now stands at an 18-month high against the euro.

People planning Crete holidays and other eurozone breaks appear to have been taking advantage of the trend in recent weeks.

The Post Office revealed that euro sales were up nearly 18 per cent in the two weeks leading up to the release of its report when compared to the previous fortnight.

Sarah Munro, head of Post Office Travel Money, stressed the importance of doing some research before deciding on a holiday destination.

"People who have not already booked a holiday should do their homework to find a resort that offers the best possible exchange rate and a low cost of living," she said.

The company recently announced the results of its Holiday Costs Barometer research, which showed that eurozone countries will be among the most affordable options for Brits travelling abroad this year.

Posted by Sarah Wells

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