London airports come out top for currency exchange value, says Caxton FX

Caxton FX logo thumb

UK. Foreign exchange specialist Caxton FX has revealed that London airports offer better value in currency exchange than their regional counterparts.

Caxton FX surveyed ten major UK airports to compare best and worst exchange rates for Euros and Dollars. The research found a notable divide between airports based in and around the capital, causing those in the regions outside London to miss out on as much as £100 on an average foreign exchange transaction.

According to the report, travellers using regional airports get up to -13% less currency for their Pounds at the bureau de change than those travelling through London. Heathrow Airport offers flyers the most Euros and Dollars for their Pounds; Bristol Airport offers the least.

The Caxton FX table indicates that, when buying Euros, Heathrow and Gatwick airports come out top for best value, with travellers getting €1.07 for every Pound. At the bottom of the table, travellers through Bristol Airport get €1.0008 for each Pound, with a similar rate offered at Edinburgh Airport.

Caxton FX table 1

According to Caxton FX, the difference in rates equates to a 10% margin between the top and the bottom of the table. For travellers exchanging £1,000 that could mean a difference of €70.

The report noted a similar disparity in rates for US Dollars, with Heathrow Airport again topping the table and Bristol Airport in tenth position.

Caxton FX table 2

Caxton FX CEO Rupert Lee Browne commented: “Currency exchange bureaus at the airport have a captive audience, so they can offer outrageously poor rates and are still confident that people will purchase foreign currency from them.”

With the Pound at a 31-year low against the US Dollar, and a two-year low against the Euro, he advised travellers to “be smart” with their holiday money and encouraged the use of prepaid currency cards.

 

Food & Beverage The Magazine eZine