Pound soars to highest level against US Dollar in five years
17 Apr 2014
The Pound has surged to its highest rate against the US Dollar in 5 years, providing a welcome boost to Brits heading to the US over the Easter break.
Latest currency stats from Travelex reveals that Brits exchanging £500 will now pocket an extra $96 Dollars - the highest amount since 2009. It follows faster-than-expected growth in the UK economy and the recent news that unemployment has fallen to 6.9%.
David Swann of Travelex comments: "The Pound's high is perfect timing for those jetting off to the US this Easter weekend. The Pound has been making strong and steady progress in recent weeks and is now up 13% against the US Dollar compared to only nine months ago. It's also looking positive for those heading to the Eurozone, with the Pound up five per cent against the Euro versus nine months ago - meaning an extra €27 on exchanging £500."
Half-term holidaymakers can make the most of their budgets by locking in the exchange rate on their travel money while the Pound is performing well. For those concerned about keeping their holiday money safe, the Multi-currency Cash Passport - with its chip and PIN protection, and no connection to a bank account - is a safe alternative to carrying cash.
Travelex is the world's largest foreign exchange specialist with almost 1,500 stores and 1,250 ATMs across 27 countries, at key airport, seaport, rail and tourist locations. Over 40% of travellers - 1.7 billion passengers a year - pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Paris, Sydney & Tokyo. Every hour, Travelex provides foreign currency to more than 2,000 customers.