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Value of pound slips against the euro

Exchange rate poor value for holiday makers

Winter holiday makers will get less for their pound as they head off this month.

Fears over the value of the pound have deepened after it crashed to a record low against the euro.

How to get the best exchange rate

Which? Money editor Martyn Hocking appeared on the BBC’s Working Lunch  discussing how to get the best value when exchanging your money. If you missed the live broadcast you can view it via BBCi player.

Pound slumps against euro

Growing alarm about the British economy sent sterling trading down to its weakest level since the birth of the single currency in 1999.

At its lowest point, one pound bought just 1.139 euro.

Value of the pound will continue to fall

City forecasters said that a one-for-one exchange rate between the pound and euro was looking increasingly likely in the coming months. It has already fallen in value by about 20 per cent in the past year.

The pound also remained marooned far below its summer peak of $2 against the US dollar at $1.4803.

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