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Holidaymakers 'rush to buy foreign currency' | Holidaymakers 'rush to buy foreign currency' |
(about 20 hours later) | |
Holidaymakers have been rushing to buy travel money, in case the pound falls in value after the EU referendum, according to currency experts. | Holidaymakers have been rushing to buy travel money, in case the pound falls in value after the EU referendum, according to currency experts. |
Exchange firms said travellers were stockpiling currencies as a protection from sudden movements in rates. | Exchange firms said travellers were stockpiling currencies as a protection from sudden movements in rates. |
Last week the Post Office saw a 57% uplift in sales worth more than £500, and a surge of 215% over the weekend. | |
Foreign currency firm Travelex, said the catalyst was a rally in the value of the pound on financial markets. | Foreign currency firm Travelex, said the catalyst was a rally in the value of the pound on financial markets. |
"We did notice a 30% uplift for traffic to our UK website on the day that the pound regained its strength last week," said Travelex's head of pricing, David Swann. | "We did notice a 30% uplift for traffic to our UK website on the day that the pound regained its strength last week," said Travelex's head of pricing, David Swann. |
"We also saw an increase in the average transaction value." | "We also saw an increase in the average transaction value." |
David Cameron and the Chancellor, George Osborne, have referred repeatedly to a Treasury forecast that the pound would fall sharply if the UK votes to leave the EU. | David Cameron and the Chancellor, George Osborne, have referred repeatedly to a Treasury forecast that the pound would fall sharply if the UK votes to leave the EU. |
The Vote Leave campaign accused them of talking down the economy and pointed out that the pound had been stable in recent months. | The Vote Leave campaign accused them of talking down the economy and pointed out that the pound had been stable in recent months. |
A specialist currency firm, Caxton FX, said its business was currently 20% up on last year. | A specialist currency firm, Caxton FX, said its business was currently 20% up on last year. |
Its chief executive, Rupert Lee-Browne, said he saw "increasing concern that the pound will fall, from customers who are travelling in the summer." | Its chief executive, Rupert Lee-Browne, said he saw "increasing concern that the pound will fall, from customers who are travelling in the summer." |
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