Travelex reports increase in Euro transactions, despite weak dollar
Number of purchases and average value up

Date: July 07, 2008

New York - US dollar to Euro exchanges have reached a high, according to sales figures at Travelex, the world's leading currency exchanger. In an indication of a thriving international travel market despite a weaker dollar, total Euro sales in March, April and May show a nearly 20 percent increase over 2007, and the average amount per transaction is up 17 percent. Travelex has also seen a sharp increase in sales of Cash Passports - the newly introduced pre-paid, signature-protected foreign currency cards.

Euro to dollar exchanges are also growing, even faster: sales of dollars to incoming visitors are up 39 percent, an increase that's twice as fast as sales to outbound Americans. The average amount exchanged is 19 percent higher than last year's average.

"To be prepared, Americans are taking more currency with them because it's not going as far," said Susan Druckman, Vice President of Business Development. "And since ATM fees are charged in Euros, savvy travelers are planning ahead to avoid frequent withdrawals."

Travelex offers the following advice for travelers embarking on overseas journeys:

• Travelex recommends traveling with a mix of cash and plastic.
• Take enough currency to avoid multiple exchanges and the higher Euro fees associated with each exchange.
• Take steps to protect yourself from identity theft and the extreme inconvenience that can result from a card being lost or stolen.
• Purchase currency from a vendor that offers a return guarantee for unused bills. Returning leftover cash can be the most expensive part of your transaction, because you will pay double without a special guarantee.

For further information please contact:

Annie Jensen, Travelex, (917) 288-5244

About Travelex:

Travelex is the world's foreign exchange and business payments specialist. The group is also one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions. The group serves businesses and individual travelers through nearly 700 banks, stores, malls and airports in four regions: the Americas; United Kingdom; Europe, Middle East and Africa; and Asia Pacific.