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Britons heading abroad at the start of the summer are being hit by the poorest exchange rates for almost nine months.On Friday, the Moneycorp bureau at Stansted airport was offering just €0.89 for each pound on Friday, one of the lowest rates ever seen.Holidaymakers heading to the US were getting just one dollar for each pound, after the greenback fell on Thursday.Both are far below the wholesale rate at which banks are buying and selling the currencies between each other.On the official foreign exchange market, the pound was worth €1.1169, whilst the dollar was worth $1.3043.
Tourists offered 86 cents for a pound
How to get the best foreign exchange rates
The pound fell below $1.30 on Thursday - its lowest level since September last year -after a surprise fall in retail sales in June, confounding expectations of an increase.[i]What's the pound exchange rate near you
It comes on the same day that figures were published by the Office for National Statistics, showing that Britons spent a record ?44.84bn abroad last year, a rise of 2.4% on 2016. Advice for travellers trying to save money on exchange rates includes pre-ordering cash on the internet, or using specialist cards with low fees to take money abroad."If you pre-order online, and collect the cash when you get to the airport, you will still get the online rate," said Sally Francis-Miles, a consumer expert at Moneysupermarket."If you're going abroad in the next month, you've still got time to order a specialist overseas credit card. If you're going in the next week, cash is probably best," she told the BBC.Some firms also allow you to lock in to an exchange rate, months before you travel.What's the pound exchange rate near you? What is the worst exchange rate you have experienced? Email include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways:
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