pound coinsBritish tourists have received a bit of good news ahead of holiday season after it was revealed that leading bureaux de change are selling Euros at a rate of 1.20 to the pound for the first time in three and a half years.

It means Britons are getting 10 % more for their money than they would have got last year, and rekindles optimism surrounding the recovery of the sterling.

Chris Towner, from specialist foreign currency firm HiFX, believes there is even better news around the corner for tourists, but warns that the sterling still has a lot of work to do to regain its old value.

He said: ‘It should reach 1 euro 27, or 1 euro 28, in the coming months. It is at very tempting levels, but sterling is still undervalued against the euro.’

This news could be specifically relevant to any of those planning on enjoying some fabulous singles holidays to any one of the top European destinations on offer.

Image credit: Brian Barnett