Demand for euros 'stays strong'

The latest figures from the Post Office show that demand for travel to Europe is still strong, despite the high cost of the euro for Brits and the impact of the credit crunch on consumer finances.

Strong levels of demand for foreign currency reported by the Post Office are in line with recent surveys by the BBC and the Confederation of British Industry, which found that holidays are one of the last luxuries to be dropped in times of tight finances.

Overall, 16 of the Post Office's 20 leading currencies have seen a healthy increase in sales this summer.

Sales of the euro increased by 3.2 per cent year-on-year in June and July, while US dollar sales accelerated by 4.4 per cent in the opening summer months.

Turkey is the country that has seen the strongest benefit of being outside the eurozone, with sales of the lira rising by 22.9 per cent in June and July.

Helen Warburton, head of travel at the Post Office, said: "The continuing growth in demand for euros shows that most holidaymakers are not deserting summer sun favourites like Spain, Greece and France.

"However, accelerating sales of Turkish lira, Swiss francs and Croatian kuna suggest that many UK tourists are shopping around in Europe."

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