Financial news categories
Financial news archive
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
More are selling back foreign currency
08 September 2008
Cash strapped holiday makers are selling their foreign currency back into pounds, in order to free up some spare cash, claims Travelex.
Research by Travelex revealed that over the summer period there has been a 66 per cent increase in consumers converting any spare currency straight back into sterling in a bid to help finances during the current economic climate.
Julian Neal, global marketing director for Travelex retail, said: "There is a shift towards thriftiness by customers. In the past many people actually brought currency home, particularly euros and dollars which are our two most popular currencies, and literally stashed them in a wardrobe."
Mr Neal states that people have less disposable income because of the credit crunch and are willing to investigate any method that will see them gain some extra cash.
According to research carried out by ebookers.com, those feeling the pinch most were young families, with one in ten saying they would find loan deals to pay for a holiday.
Search for the best UK loan deals
