It is an increase of 0.16 percent over the last 24 hours, which has been described as a “modest” gain by one financial expert.
George Brown, currency expert at Caxton FX shared his exclusive insight into the exchange rate with Express.co.uk.
He explained: “Sterling began the week yesterday by notching fairly modest gains against the common currency which, though rather unimpressive in isolation, did see the pound snap a four-day losing streak.
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In anticipation, many Britons may be considering switching their travel money while rates are good.
However, one travel money expert has suggested holidaymakers should hold onto their pounds until there is further confirmation regarding holidays.
James Andrew, senior personal finance editor at money.co.uk warned: “Although countries have said they will be opening their doors to UK visitors, consumers must be cautious before exchanging money at this stage.
“Until the Government has confirmed that you will be allowed to travel, consider if you need to exchange travel money right away.”
Yet, once holidays are concerned, Britons are advised to exchange their travel money well in advance of their departure.
“Do not exchange money at the airport, their rates are almost always less favourable than you can get in advance,” he told Express.co.uk.
“If you do want to collect your money at the airport, ensure you order it well in advance to take advantage of better rates.”
He added: “If you have left it to the last minute, you might be able to order your travel money online as late as the night before and pick it up at the airport before you fly out.
“That should get you a far better rate than a walk-up customer and still see you have the currency in your hands before you land.”
This article originally appeared on Daily Express :: Travel Feed