SO GET YOUR DOLLAR DEAL NOW BEFORE ITS GOING, GOING, GONE...

As the pound surges to a ten month high, anyone travelling to the States in the coming months could benefit from getting some of their travel money now, to lock in on the current rate of $1.67 for every £1 from FairFX.com.

Stephen Heath, Chief Executive of FairFX.com, said: “This surge in the value of the pound is good news not only for the UK economy, but also for British travellers planning to head across the pond. While still a long way below the $2 to £1 levels seen in July last year, the pound has rebounded 25% from the 23-year low of $1.35 it plummeted to in January this year.”

Don’t be fooled

Checking the exchange rate is very important as many travellers are misled by headline advertising for travel money such as “0% commission” or “no commission”, which often masks the true cost.

The true cost to consumers is not only the advertised commission rate, but also how many Dollars, Euros or other currencies they receive for each pound exchanged, namely the exchange rate. This can vary so much that some travellers, particularly if they use regional airports, could actually be paying up to 15% more than others.

Stephen Heath added: “No one likes to be fooled into buying something only to find out too late that they paid over the odds or that they have been stung by extra transaction costs when they return from their holiday. A good currency card gives travellers the choice about when they fund their trip, getting Dollars now could help someone to budget for a future holiday, or simply mean they’ve locked in the best rate available so far this year.”

FairFX offers customers market-leading exchange rates via either a pre-paid currency card or cash via their internet site: www.fairfx.com.

Tuesday 04 August 2009, 05:29pm

Tags: best rates, currency card discussion, dollar, euro, europe travel, exchange rates

Commenting on the Pound’s gains against the Euro, Stephen Heath, Chief Executive of FairFX.com, said: “The end of 2008 saw the Pound beaten down to a measly €1.0195 to £1 on 30th December. However, 2009 is looking brighter for the beleaguered currency and we have already seen gains of more than 7.5 per cent since the lows of December.

“In the past few days, investors have been selling Euro-based assets and have taken an interest in Sterling instead. By the end of yesterday, the Pound had clawed back another three cent on the Euro to reach €1.11 to £1.

“Analysts expect the Euro to remain weak in the short-term as the European economy looks as vulnerable as its rivals. And despite predictions of further interest rate easing by the European Central Bank, traders do not expect recent Euro gains to be sustained.

“Sterling has also rallied against the US Dollar and is now trading at $1.52 to £1 due to US confidence being hit by weak economic data and the Federal Reserve having hinted at concerns of deflation.”

Thursday 08 January 2009, 09:20am

Tags: dollar, dollar exchange rates, dollar rates, euro, europe travel, euro rate, euros, exchange rates