Holidaymakers heading to Europe will receive just one euro per pound at UK airports thanks to the combined effect of high charges and a Brexit-weakened pound, reports The Independent.
Those heading to the US will hardly get a better deal in dollars.
The worst rates are at Moneycorp’s Bristol Airport bureau de change, which gives customers just €1.0008 per pound, according to Caxton FX, a pre-paid card provider.
Scots flying from Edinburgh will get a similarly low rate of €1.007.
Those flying from London airports get the best deal, receiving €1.07, an extra €70 for £1,000 exchanged, from Heathrow or Gatwick.
However, at ICE’s desk at Luton airport the rate slides to just €1.007. At Stansted it is €1.015. All the airport prices were taken by Caxton FX on July 11.
The pound was trading at €1.194 at 4pm on Wednesday, meaning that consumers could be paying 18 per cent in commission and charges at some outlets.
“Currency exchange bureaus at the airport have a captive audience, so they can offer outrageously poor rates and are still confident that people will purchase foreign currency from them,” commented Rupert Lee Browne of Caxton FX.
The figures also highlight how far the pound has fallen since the June 23 EU referendum. Since the unexpected vote to leave, uncertainty around the UK’s economic future has seen sterling plummet from €1.30 to €1.19.
