Airports offering holiday makers less than €1 for £1 accused of profiteering from election

Airports are accused of exchange rate profiteering by offering less than one euro to the pound to take advantage of holidaymakers’ pessimism after the election.

Holidaymakers buying last minute currency face “extortionate” exchange rate profiteering as

Seven airports are offering just €1 for £1 and five are offering even less – with rates as bad as €0.90 to the pound. This is despite the market rate sitting at €1.14 to the pound, meaning currency bureaus are pocketing the remaining 15 cents, representing the biggest profit seen by exchange rate experts at FairFX.

Airports are renowned for offering poor currency deals but the difference is typically 10 cents, it said. Some of the worst rates were found at major airports including Stansted, Birmingham and Gatwick.

The nation’s worst offender was Southampton Airport, offering a pound-euro rate of just €0.90 – a difference of 26 per cent to market rate – followed by Stansted Airport at €0.96, a difference of 18 per cent to market rate.

By contrast high street currency shops are offering rates well above €1 for £1.

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