Travellers urged to 'wise-up over foreign currency'
By not familiarising themselves with their holiday money, British travellers could be putting themselves at risk of being short-changed, a new report has suggested.
Five per cent of UK holidaymakers were unable to name the currency used by France and some 59 per cent of people travelling to Egypt could not recognise the Egyptian pound, revealed a study by American Express Global Foreign Exchange Services.
The research also found that each person in the UK could lose as much as £15 per holiday due to a lack of knowledge when it comes to foreign money.
Helen Grace, vice-president at the company, said: "The best way to avoid confusion when travelling abroad is familiarising yourself with the local currency before you leave."
Not realising how much people are spending and a failure to properly work out the exchange rate were two of the top five reasons that Brits overspend while travelling.
The Foreign and Commonwealth Office recommends travellers heading to Egypt take out fully comprehensive travel insurance before they go, with lost and stolen passports the number one reason for people seeking consular support.
Cheap holiday insurance from Direct Travel Insurance could be one way to keep total holiday expenditure down.
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