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Holiday Britons 'Getting Better Currency Deals'

Apr 3, 2007

By Peter Woodman

Holiday money for Britons travelling abroad is continuing to stretch further, it has been revealed. And those visiting South Africa are getting the best currency deals compared with a year ago, a survey by the Post Office found. South Africa was one of 12 countries surveyed now having better currency rates for Britons than this time last year. A total of 16 countries were surveyed.

A year ago, Britons could get around 10.5 South African rand to the pound. But this has now increased nearly 21% to 13.27 rand to the pound. There have also been big increases in favour of British tourists in the value of the Turkish lira (now 13.45% more lira than a year ago), the United Arab Emirates dirham (up 11.51%) and the US dollar (up 10.81%).

Of the countries surveyed only Poland, the Czech Republic, Thailand and Hungary offered poorer exchange rates for Britons this year than last.

The dip in the value of the pound against some Eastern European countries comes at a time when more flights are being offered to these destinations.

But Post Office travel head Kevin McAdam said, 'When you consider that prices are so much cheaper in Eastern Europe, these emerging destinations are actually very good value.'

He added, 'The continued growth of sterling is part of a long- term trend that has seen the South African rand more than halve in value over the past decade. In that time, demand for safaris, trips along the (coastal) Garden Route and Cape Town breaks has mushroomed. Competitive pricing by hotels and safari operators makes South Africa a great draw for bargain hunters.': FROM PAGE 15: Ensure you're insured:A third of consumers do not read their insurance policies - leaving them at a loss over what is covered by the contract, according to a report out today. Research from Norwich Union found that just under 40% of people who have taken out insurance are unclear what their policy covers, with 33% not bothering to study the relevant documents. In addition, 38% of people do not know when their contract expires.

Darren Cornish, head of customer experience at Norwich Union, said, 'Our research highlights a lack of understanding about insurance.

'Customers who do not know what they are covered for could face disappointment when claiming if their expectations are not met - something which could be avoided if they understood what is in their policy before they need to claim.

The Your Policy Uncovered report revealed a number of misconceptions over what common insurance policies cover.

More than a third of motorists believe that if the keys are left in the ignition and their car is stolen they will be covered. And only one in ten is aware that adding a partner to their car insurance could result in lower premiums.

Mr Cornish said customers should ask questions of their insurer if they are unclear on anything. Norwich Union interviewed around 1,000 UK adults for the research.

(c) 2007 Western Mail. Provided by ProQuest Information and Learning. All rights Reserved.

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