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Changing currency rates confuse holidaying Brits

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Brits flying abroad are becoming increasingly confused by the ever-changing currency rates, it has been claimed.

Senior researcher at Which? Money Dan Moore explained that the price of sterling had recently been affected by an increase in British manufacturing output and the emergence of France, Germany and Japan from recession.

"For the average person on the street, what we are really looking at is how much people are paying for their holiday money," he said.

Mr Moore went on to say that while the value of sterling was "creeping up", there has not been a "massive increase" in terms of how many euros a person can get for their pound.

Recent research from FairFX.com revealed that just four percent of travellers understand that ‘commission free’ often comes with a cost.

The foreign exchange company said that some of the worst industry practices it uncovered were publicising free services while increasing hidden costs and charging non-usage and cross-border fees.

Over half (51 percent) of respondents said they were prepared to pay for something as long as providers were honest and upfront about the costs.

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