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Spare euros or dollars? Now could be a good time to exchange them

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Written by: Paloma Kubiak
26/02/2016
Last year the pound reached a seven-year high against the euro when it hit €1.44 so holidaymakers reaped the benefits when travelling abroad.

However, so far this year, the EU uncertainty and turmoil of the global stockmarkets means those travelling abroad receive fewer euros or dollars per pound exchanged.

But if you flip this round, anyone with left-over euros or dollars can exchange them into sterling at a more favourable rate.

Christina Homburg, head of Asda Travel Money, said last year with the high of €1.44 per pound, if you changed back €100, you could have received £69.

“Now with the rate at €1.3 to the pound, you would receive £77, which is an increase of £8. Many of us have odd euros lying around the house, so maybe it’s time to search drawers and cupboards and change back up into pounds while the rate is like this.”

Asda Money buys back most foreign currency notes at 0% commission and until 5pm this Sunday 28 February, it’s running an in-store sale across all of its currencies including euro, US, Australian and Canadian dollars, Czech koruna, UAE-dirham, Thai baht, and Mexican peso.

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