Travelex sees unprecedented demand for Canadian to US dollar currency exchanges

Date: Dec 11, 2007

TORONTO - Travelex, the world's leading currency exchanger, is experiencing a 20 percent increase in demand for US dollars from Canadian citizens crossing the border to shop for the holidays.

"In the last several weeks, we've seen more and more Canadians making the trip across the border to take advantage of the increasingly favorable exchange rate," said Jon Dario, North American retail director. "We've experienced a huge demand for Canadian to US dollar exchanges compared to last year at this time. Customers are even reporting that their bank branches have run out of US dollars."

The US dollar has steadily depreciated against the Canadian dollar, from 1.15 in December 2006 to 0.92 last month. That means Canadian shoppers can buy the same Xbox their children crave for an eight percent discount in the United States. Popular shopping destinations are western New York, Maine, Massachusetts, Montana and North Dakota.

To respond to the demand, Travelex, which hosts retail exchange stores throughout Canada, has increased stock of US dollars and is offering Shopper Value Packs. The value packs offer the best exchange rates, waive the typical service fee and guarantee currency return for exchanges of $450 to $1,200. Shopper value packs are available for a limited time.

For further information please contact:

Annie Jensen, (917) 288-5244
Patti Bradshaw, (416) 776-2490

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 operates through its subsidiaries and branches in four regions: the United Kingdom ; Europe, Middle East and Africa; the Americas and Asia Pacific.

Travelex retail

Travelex is the world's largest retail foreign currency exchange specialist, with nearly 700 retail branches. The business principally operates bureaux de change in airports and tourist locations. Travelex also sells banknotes and other foreign exchange and travel-related products by providing services to individuals traveling for business and leisure.