Entering the €urozone??
The British public are taking more Euros on holiday with them than last year, according to the banking arm of Sainsbury's supermarket.
In response to the falling value of British sterling, holidaymakers are compensating for a poor exchange rate by taking a larger amount of cash with them.
Figures show that spending on foreign currency has risen by 36 per cent.
Before sterling began its steep decline, £100 would have secured approximately €135 euros. By the time the credit crunch was in full swing in December 2008, the same £100 was struggling to earn €102.
At today's exchange rates, your £100 is worth €118. Since March last year, the value of sterling against the euro dropped by 20% but has recovered a little in recent months. However, it is still 12.5% less than it was 12 months ago.
Top 10 Tips for keeping your holiday money safe.
Store it -
Store excess money and valuables in a safe. Most hotels have safes, either in the rooms or behind the main desk.
Lock it - Never leave anything important in sight and make certain your room is locked every time you leave it, even if you're only gone for a few minutes.
Leave it - Don't carry more cash than you need and carry small denominations if possible.
Charge it - Carry a combination of payment methods including Visa Debit and/or Credit cards, travellers cheques and a small amount of local currency - keep these separate.
Keep it - Do not leave your bag, wallet or any other personal items unattended and, wherever possible, keep money in a zipped pocket or a concealed money belt.
Be vigilant - Don't carry a wallet in the back pocket of your trousers or jeans; that's simply easy prey to pickpockets.
Be careful - Do not advertise how much money you are carrying.
Be prepared - Keep serial numbers of travellers' cheques, credit card numbers and emergency phone numbers separate in case you are the victim of a robbery.
Keep a record - Photocopy the front and back of your credit/debit cards and keep them separate and safe in case of emergency.
Be protected - Make sure you have adequate travel insurance which includes cover for your possessions, money and passport.
As a Flexicover Direct policyholder, you will have access to professional advice and protection 24 hours a day, every day of the year - so don't leave home without us!
Have a safe and pleasant trip!
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