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Travellers in a spin over currency

Holidaymakers from Scotland have been left baffled about foreign currency by the crisis facing the eurozone, according to a survey of would-be travellers.

Foreign exchange expert, Travelex, quizzed Scottish customers following a surge in the numbers of consumers querying what currency to take abroad.

The results revealed that weeks of speculation over the future of the single currency following the economic crisis in countries including Greece and Italy have left them confused.

One in ten of the customers questioned believes the franc is available again to spend in France, while a similar number said they would take pesetas to Spain – despite the country joining the single currency ten years ago.

And around half of those questioned are not sure if the euro is still legal tender in Austria.

“Holidaymakers in Scotland are unsurprisingly confused by currency, but with the ongoing concerns over the future of the single currency, that’s understandable,” said Anthony Wagerman, managing director, Travelex Europe & Americas. “We’d urge anyone travelling abroad to check their facts first because, despite the speculation, they still only need to be taking one currency when they go to the eurozone and that’s the euro.”

The survey also found that over two-thirds of Scots believe the European single currency will collapse, while 15 per cent don’t think it will last longer than the summer, with Greece and Italy believed to be the most likely countries to fall first.

It has left more than a fifth of customers ranking holiday money as the single most confusing thing about going away on holiday – above getting to grips with the language.

The Travelex study also revealed that Scots are confused when it comes to currency nearer to home.

A total of 43 per cent of Scots believe that Wales has its own currency, and nearly a third think they need to exchange money to visit the Isle of Wight.

 

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