Brits have faced a tough summer amidst the credit crisis, rising cost of living, and the poor weather. Now, to compound the misery for anyone planning a late summer break to the Med the Pound has fallen to a record low against the Euro.

Stephen Heath, Chief Executive of FairFX.com, said: "With the Pound at a record low against the Euro, Brits looking forward to a late summer holiday in the sun are faced with a costly dilemma when it comes to getting their holiday money. Given the current poor exchange rate to the Euro and the possibility of further falls, Brits could be best off buying their travel money now.

"The FairFX.com pre-paid currency card will enable Brits to protect, or hedge, themselves against further currency volatility as they can buy at today’s rates and simply keep the Euros until they want to start spending. FairFX.com offers holidaymakers an incredibly cost-effective and secure way to make the most of their cash."

Wednesday 03 September 2008, 09:46am

Tags: credit crisis, currency exchange, currency report, currency volatility, euro, euro rate, opodo

Commenting on the Pound’s weakness against to Euro, Stephen Heath, Chief Executive of FairFX.com, said: “With the Pound at a record low against the Euro Brits looking forward to a summer in the sun are faced with a costly dilemma when it comes to getting their holiday money.

“Given the current exchange rate volatility and further economic uncertainty to come, Brits could be best off buying their travel money now before the Pound weakens further. They can cut their losses even more by searching out the best exchange rate and not paying unnecessary charges.

“Although the exchange rate is poor now, it could deteriorate further so why not lock-in at today’s rates? A pre-paid currency card will enable Brits to do all of the above while offering the most cost-effective and secure way for holidaymakers to make the most of their cash.

“Travellers can buy a pre-paid currency card in a quick and simple online purchase then simply load it up with as many Pounds as they expect to spend abroad. Not only will this allow them to ‘lock-in’ their currency purchase at today’s exchange rates but will also mean they don’t get overcharged as they would if they bought Euros at an airport or high street bureau de change.

“In addition, pre-paid currency cards work like a credit or debit card but are not subject to the same sneaky charges when withdrawing cash from foreign ATMs or using credit or debit cards when abroad.*

“Prepaid currency cards are the modern way for consumers to spend money abroad. They are convenient, safe and in the case of the FairFX card**, offer some of the best exchange rates around.”

Thursday 10 April 2008, 05:01pm

Tags: euro, exchange rates, lock in rates, opodo, pound, pound weakness, strong euro