Holidaymakers take advantage of improving currency rates as snap election called

Currency sales have jumped this week after a snap general election was called, Post Office Travel Money has said.

The sales of holiday money were up by 147% on Tuesday and Wednesday this week compared with the same period a year ago, the Post Office reported.

Post Office Travel Money accounts for one in four UK foreign exchange transactions, and said the increase suggests people travelling abroad later in the year are buying cash early to take advantage of improving exchange rates.

The pound rose on Tuesday after the Prime Minister announced plans for a general election on June 8.

Online currency sales are up by around 47% in April compared to the same period last year, with the increase coinciding with a recovering sterling.

Andrew Brown, head of Post Office Travel Money, said: "We have seen healthy levels of growth in sales for two-thirds of our 20 bestsellers including the euro and dollar."

Mr Brown said: "Our advice has always been to watch currency movements very carefully to judge the best time to purchase travel cash and there are signs that savvy travellers are increasingly planning ahead to do just that.

"The sharp rises we have seen in purchases of euros and other popular currencies suggest many holidaymakers are being proactive and buying their holiday cash early to take advantage of the improving exchange rates."