Corporate foreign exchange news

Eastern Europe made 'astronomically cheap' by foreign exchange market

Wednesday, 16 September 2009 09:51:28 GMT

The foreign exchange market is currently making destinations in Eastern Europe appear "astronomically cheap" compared with those in the eurozone.
Such is the assertion of Bob Atkinson, travel expert at travelsupermarket.com, who notes the effects that make Britons perceive prices as being lower in the eastern countries.
He explains that these include the foreign exchange market in the region, as local currencies are not linked to the performance of the euro against the pound.
The relative affluence of British visitors is another driving force behind the perception, he says.
"British people, who are fairly rich in the scheme of things, go over there and everything's astronomically cheap," Mr Atkinson explains.
He points out the differences between non-euro countries and destinations such as Spain, where changing exchange rates have made goods more expensive over the past year.
"Bulgaria, Hungary and Poland are still using their own currency," he notes, placing these among the countries where converted British funds could therefore stretch further.ADNFCR-2522-ID-19362950-ADNFCR
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