London airports offer the best exchange rates for travellers looking to change their pounds last-minute at the airport, according to new research.
Foreign exchange specialist Caxton FX surveyed ten major UK airports to see which had the best and worst exchange rates for euros and dollars. The research found that there is a massive divide between airports based in and around the capital and those outside, causing those in the regions to miss out on as much as £100 on an average foreign exchange transaction.
When it comes to buying euros, Heathrow and Gatwick top the table for best value where travellers get €1.07 for every pound. At the bottom of the table, West Country fliers travelling though Bristol get just over one euro (€1.0008) for each pound and Scottish fliers get a similar rate going through Edinburgh (€1.0070).
|Euro exchange rate league table*|
|Best value||Airport||Bureau||Euro rate||£1,000 buys|
Although the difference in rates only looks like a matter of pennies, this equates to a 10% margin between the top and the bottom of the table. If you are changing £1,000 worth of currency, which is not unusual for a small family, this could mean the difference of €70 – the cost of a meal out for a family in Spain.
For those travelling to America, there is a similar disparity in rates for dollars. London airport Heathrow topped the table for offering $1.19 for every pound. Once again Bristol offered the worst rates with holidaymakers getting just $1.05 for each pound – a difference of nearly 13%.
This means that a family travelling to America with £1,000 of holiday money would get $1,190 if they exchange it at Heathrow and only $1,054 if they exchange it at Bristol. This is a difference of $136, which equates to two meals for a family of four in an average American restaurant.
|US Dollar exchange rate league table*|
|Best value||Airport||Bureau||US Dollar rate||£1000 buys|