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Potential expats 'still confused by foreign currency'

Mon 10th May 2010

Expatriates considering relocating overseas to Europe could be at a financial advantage in the next few months due to the strengthening of the pound, Post Office Travel Services has suggested.

Head of travel services Sarah Munro said destinations that can be reached by ferry rather than by air will be popular this summer, especially with British travellers.

But she warned potential expatriates to "do as much research as possible before travelling, looking at exchange rate movements and taking into account destinations where living costs are lower".

It comes as a survey by found almost two-thirds (64 per cent) of consumers get confused by foreign currency, with 12 per cent believing the money used in Spain is still the peseta and 30 per cent thinking the French still use francs.

"One of the main reasons consumers are confused over currency is because they are often unsure which countries belong to the eurozone and which do not," Ms Munro suggested.

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