europe

British Travelers Paying More In Europe As School Summer Holiday Begins

Britons are being offered the worst ever foreign exchange rates. It is as low as 88 euro cents against a pound at British airports when holidaymakers are heading to Europe.

The lowest reported being offered at the Cardiff airport.

Travelers flying out of Birmingham, Luton and Gatwick are learned being offered less than a euro against a pound on Friday. For those who pre-booked the currency of course received more than the lowest.

The school holiday has begun and parents on Friday were busy packing suitcases while the pound wrapped the terrible week fall to lowest in past eight months. One pound was equivalent to 1.11 euro on the day.

Experts said the fall is worst ever seen at any of the British airport.

Meanwhile, foreign exchange industry rationalize the devalue with higher property and staff costs and the airports.

Chief executive of the online currency firm FairFX, Ian Strafford-Taylor, said the British holidaymakers are paying the price of economic as well as political uncertainty after the Brexit referendum last year.

He added the decline also mean holidayers need to pay more for the meals, hotels and other stuff in Europe compared to past couple of years.

Head of the European Central Bank, Mario Draghi, is also being blamed for the decline in pound as he pushed the euro higher on the foreign exchange markets.

Meanwhile, the European tourists are happy with the current currency valuation as they need to pay less than last year while holidaying in United Kingdom.

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