Stronger sterling brings good news for stag parties

17 Jun 2009

Stag night revellers jetting off for a weekend abroad this summer are likely to get more booze for their buck than they may have done earlier in the year, it has been claimed.

According to foreign exchange dealers HiFX, the sterling's recent recovery against the euro has helped make overseas jaunts cheaper again for British holidaymakers.

The European Central Bank revealed that the pound was up 0.36 per cent against the euro on June 12th, making rates far better than they were at the beginning of the year.

While a stag do overseas may still prove to be more pricey than staying in the UK, HiFX's currency strategist Marc Cogliatti said tourists are "certainly better off" than they have been in recent months.

"In the grand scheme of things the pound is now 15 per cent higher, compared to where we were at the start of the year," he noted.

"That is obviously good news for holidaymakers."

According to tourism trade association UKinbound, a trip to London may also prove cheaper for stag parties than many may anticipate, as past perceptions make the capital seem more expensive than it actually is.ADNFCR-2122-ID-19223025-ADNFCR


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