Pound starts to recover from crash – but airports are still selling it for less than a euro

Moneycorp at Bristol airport featured the worst rate at $1 for a pound - 19% lower than its wholesale rate

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The Independent Online

Holidaymakers are still facing appalling exchange rates at several airports as they are being charged a one-for-one rate against the dollar.

Sterling has jumped by almost 1 per cent briefly touching the $1.23 mark against the dollar on Tuesday boosted by a rise in inflation and a suggestion that Parliament would have to ratify the UK's Brexit deal.

But bureaux de change rates across UK airport have barely improved from last week.

Moneycorp at Bristol airport featured the worst rate at $1 for a pound. This is 19 per cent lower than its wholesale rate. Whil

The average dollar rate for one pound still stands at $1.12 dollar, according to money travel firm FairFX, only a slight improvement from the $1.08 on offer at the start of last week.

The euro rates were not much better.

Travellers will be offered just €1.02 for a pound on average, compared to a market rate of €1.11, FairFX said.

Meanwhile, some airports are still offering less than a euro for a pound with the lowest rate standing at just €0.96 vailable from various bureaux de change at Bristol, Luton, Edinburgh and Stansted airports.

Tracy Bownes, Retail Director at Moneycorp said: “The reason for our higher airport rates is the significant cost associated with operating there – from ground rent and additional security, to the cost of staffing the bureaux for customers on early and late flights.”

On Tuesday, sterling has hit its highest level against the dollar - trading above the $1.23 mark - since a "flash crash" two weeks ago saw it take a 6 per cent hit in two minutes.

The pound has lost nearly a fifth of its value against the dollar since the referendum in June. 

It also hit a new six-year low against the euro on Monday.

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