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What s more, he said the future was too uncertain to know whether holidays would go ahead by the summer.
However, people travelling for essential reasons are able to travel to some destinations.
Furthermore, many would-be holidaymakers may be looking to switch their foreign currency back to pounds if their plans have now been cancelled.
Post Office Travel is currently offering a rate of €1.0976 over £400, €1.1135 for over £500, or €1.1099 for over £1,000.
Despite the favourable rates, one foreign currency expert suggests now may not be the time to switch euros back into pounds.
Map of European currencies (Image: DX)
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James Lynn, co-CEO and co-founder of Currensea told Express.co.uk: It may be tempting to change back leftover travel money, or even take out foreign currency in anticipation of a future holiday, while the exchange rate is favourable. However, I would advise against this.