Currencies Direct

Currencies Direct

March 12, 2012 10:23 ET

Get the Lowdown on This Summer's Holiday Currency Hotspots With Currencies Direct

Currency Exchange Specialist Currencies Direct Offer Advice on the Best Value Summer Holiday Destinations

LONDON, UNITED KINGDOM--(Marketwire - March 12, 2012) - More consumers book their summer holiday in February than during any other month of the year, largely because they want to escape the doom and gloom of the British summer but also because they have now paid off most of their Christmas expenses. But where will the holiday hotspots be this summer in terms of currency exchange?

According to currency exchange specialists Currencies Direct, Spain and Portugal will be the best value holiday destinations this summer. The economic trouble in the Eurozone caused by the situation in Greece has helped to subdue the Euro and the Pound is now at a three-year high of EUR1.2 to £1.

Of course the recent gains made by the Pound against the Euro can be felt throughout Europe but Spain and Portugal have also seen costs and prices fall for a variety of goods and commodities unlike other parts of the Eurozone, notably Italy.

Exchange rates in other parts of Europe are also rising. Over the past six months the Pound has strengthened against the Bulgarian Lev, making Bulgaria's aptly named Sunny Beach resort a good value beach holiday option. Despite recent losses, over the past year the trend has been an upward one for the Pound against the Turkish Lira and Turkey has itself been investing heavily in its tourism industry, where new hotels are offering greater choice and flexibility to British holidaymakers.

Alastair Cotton, corporate dealer at Currencies Direct, makes this suggestion "It's not all about simple exchange rates; holiday bookers need to consider how far their Euros, Levs or Liras will go. In terms of value for money, taking into account both a favourable exchange rate with the Pound and purchasing power, Portugal and Spain are the clear winners."

"You don't want to get caught out with commissions fees however, as this can erode many of the gains you make from a favourable exchange rate. If you regularly travel to the Eurozone, or simply want a hassle free holiday, Currencies Direct's Prepaid Currency Card is ideal. You just top up the amount of Euro's you want onto the card and you can use it as you would a normal debit card. There's no loading fee, no commission and a highly competitive exchange rate. If you really want your holiday money to go further, this is the best way of doing so."

About Currencies Direct

Currencies Direct is one of Europe's leading non-bank providers of currency exchange payment services. Since its formation in 1996 Currencies Direct has evolved and positioned from being an innovative service provider of foreign exchange for consumers and high net worth individuals into a dynamic and pioneering 'business to business' fully integrated treasury solution service provider. Headquartered in the City of London (United Kingdom) with operations in Europe, Africa and Asia, Currencies Direct is part of the Azibo Group, a privately owned investment company.

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