Buy holiday money now, suggests FairFx
Pre-paid currency card provider FairFx has suggested people planning to take a vacation in the US or Europe should consider buying their currency now.
The advice follows news the pound has fallen significantly against the euro and US dollar, according to FairFx.
Yesterday it fell from $1.6598 to £1 to $1.6479 to £1 within 24 hours.
The internet based foreign exchange company offers a prepaid MasterCard denominated in euros and US dollar.
It gives customers access to exchange rates on the cards or in cash via their website.
Chief executive of FairFX.com Stephen Heath, said: "The value of Sterling fell dramatically yesterday morning after Mervyn King said the MPC [Monetary Policy Committee] will lower the deposit rates to free up lending between banks.
"We have now seen the pound take such a pummelling that you will get just $1.6479 or €1.1203 to £1."
The CaxtonFX euro card users do not have to pay ATM charges when using the card abroad.
Cards are also chip and pin secure.
Written by Sarah Wilkins ©
