Britons spend more on foreign trips

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As many start hunting for travel insurance to cover them over their summer trips abroad, a survey has revealed that Britons heading overseas are splashing out more on spending money, despite a fall in total numbers of those who have taken foreign holidays in the year to date.

The poll by American Express global foreign exchange services found that sales of foreign currency increased 6 per cent in the first three months of 2010, compared with January to March 2009.

However, actual numbers of UK citizens travelling overseas dropped 10 per cent in the first two months of this year compared with January-February 2009.

A number of Far East currencies rose up the foreign exchange table in January-March 2010, while the euro and the US dollar remained the most-bought currencies.

These included the Thai baht, the Singapore dollar, the Japanese yen and the Malaysian ringgit.

Terry Perrin, director of trading and business development at American Express global foreign exchange services, said: "The favourites of 2009 are likely to continue their popular streak into the summer of 2010. We expect Spain to remain the number one package holiday destination this summer for British families and 2009 currency climbers - Turkey and Egypt - are likely to continue their growth in popularity."

Copyright © Press Association 2010

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