Demand for currency 'remains strong'

Date: 22/09/2008 14:00

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Despite the recent collapse of the XL airline, the demand for foreign currency remains strong, the Post Office has claimed.

The group, which is responsible for more than a quarter (28 per cent) of all transactions for foreign money, has reported a healthy increase in the sales volumes over the six day period following September 11th when compared to last year's figures.

Euro sales increased six per cent while requests for the US dollar, which has bounced back after a period of poor performance, were up 12 per cent.

Meanwhile, the Slovakian koruna was this year's fastest growing currency, with increases of 34 per cent noted.

Helen Warburton, Post Office head of travel services, said: "September sales have been among the most buoyant this year, showing no sign of the downturn that might have been expected as a result of the credit crunch."

She added that it would not have been surprising to see a drop in sales following the collapse of XL, which blamed dramatic increases in the cost of fuel for its failure.

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