Currency knowledge 'can save money'

British travellers are losing a collective total of £288 million through a lack of knowledge about different currencies and their values, according to research by the Post Office.

The organisation released a survey showing that 38 per cent of UK adults are unable to convert popular currencies such as the US dollar, the euro and Thailand's baht into sterling.

Nearly a fifth (17 per cent) of the survey respondents said they prefer to holiday in places where they understand the currency, while 27 per cent said they regularly go over budget when they are abroad.

Post Office head of travel Sarah Munro said: "At a time where budgets are being stretched, it's more important than ever to keep a [rein] on holiday spending.

"To make the most of your pound make sure you do your research before you go. Check out the exchange rate and do some research to find out how much...basic staples like drinks and sun cream will cost when you get there."

The Post Office released another piece of research recently showing that fuel prices are going down across Europe.

Austria and Spain were found to offer the best overall value for driving holidays when the costs of diesel and unleaded petrol were taken into account.

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