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Travellers urged to improve currency knowledge
7 Jul 2009
Travellers have been urged to improve their knowledge of different currencies and their values, something that could reportedly save a lot of money.
According to research by the Post Office, 38% of UK adults are unable to convert popular currencies such as the euro, the US dollar and the Egyptian pound into sterling and are overspending by around £288m as a result.
Nearly a third (27%) of people regularly go over budget when they travel, according to the study, while almost half (44%) fail to find out the true cost of items while they are abroad.
Sarah Munro, head of travel for the Post Office, said: 'At a time where budgets are being stretched, it's more important than ever to keep a [rein] on holiday spending.
'To make the most of your pound make sure you do your research before you go. Check out the exchange rate and do some research to find out how much...basic staples like drinks and suncream will cost when you get there.'
The Post Office also recommended using calculators on phones to work out the exact cost of holiday items and avoiding using cards to pay in sterling as these transactions are often conducted at an uncompetitive exchange rate.
Opodo cheap flights, hotels and car hire - let the journey begin!
According to research by the Post Office, 38% of UK adults are unable to convert popular currencies such as the euro, the US dollar and the Egyptian pound into sterling and are overspending by around £288m as a result.
Nearly a third (27%) of people regularly go over budget when they travel, according to the study, while almost half (44%) fail to find out the true cost of items while they are abroad.
Sarah Munro, head of travel for the Post Office, said: 'At a time where budgets are being stretched, it's more important than ever to keep a [rein] on holiday spending.
'To make the most of your pound make sure you do your research before you go. Check out the exchange rate and do some research to find out how much...basic staples like drinks and suncream will cost when you get there.'
The Post Office also recommended using calculators on phones to work out the exact cost of holiday items and avoiding using cards to pay in sterling as these transactions are often conducted at an uncompetitive exchange rate.
Opodo cheap flights, hotels and car hire - let the journey begin!
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