You are here: Home - Household Bills - News -

The best place to exchange pounds for euros and dollars after sterling’s steep decline

0
Written by: Paloma Kubiak
04/10/2016
Sterling has hit new lows against the dollar and the euro so if you’re heading overseas during half term, here’s where you can get the most currency for the weakened pound now.

While the FTSE 100 topped the 7,000 mark this morning, sterling hit a new 31-year low against the dollar, falling to $1.28, while it fell to a three-year-low against the euro, currently trading at around €1.1432.

If you’re heading abroad during October’s half-term, the fall in the value of sterling means you’ll now get less foreign currency for every pound in your pocket.

But, until 8am Friday 7 October, Asda Money is holding a sale on all currencies, such as the euro, dollar, Mexican Peso and Turkish Lira, and it’s available both in-store or online.

You can pick up the currency from a local Asda Travel Money bureau free, or home delivery is free on orders over £500 (for orders from £50 to £499.99 it’ll cost £3.95).

If you have an Asda Money Currency Card, you can reload it by calling 0800 260 0355.

How does it compare?

If you’re exchanging £500, here’s what you’d get at the following bureaux:

  • €561.45 at Asda (1.1229)
  • €551.10 at M&S (1.1022)
  • €560.45 at the Post Office (1.1209)
  • €561.25 at Sainsbury’s (1.1225)
  • €561.20 at Tesco (1.1224)

This means you’d be €10.35 worse off exchanging £500 at M&S than at Asda Money.

However, it’s always best to compare currency before you exchange to ensure you snap up the best rate.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @DomWrong: UK avoiding a recession but it will be harder to grow if the rest of the global economy slows according to @ArtBLondon on @Yo
  • RT @HendersonRowe: “Brexit aside, the UK will struggle to expand if the rest of the global economy is slowing down. After a strong July and…
  • RT @HendersonRowe: “Brexit aside, the UK will struggle to expand if the rest of the global economy is slowing down. After a strong July and…

Read previous post:
Guide to offset mortgages

Find out how you could potentially save thousands of pounds and slash years off your mortgage term.

Close