Travel money specialist No.1 Currency has recorded a 70% surge in business compared to this time last year as holidaymakers in the UK clamour to buy their foreign currency in the final hours before the result in Britain’s EU referendum.
No.1 Currency recorded its busiest day of the year yesterday, with customers queuing outside its network of 102 high street stores.
The surge in demand for foreign currency also saw No.1 Currency record its busiest ever day for online sales, and a 300% increase in orders for home delivery of currency.
Simon Phillips, Retail Director at No.1 Currency said: “Demand has rocketed for all foreign currencies, but Euros and Dollars are proving especially popular.
“Our network of high street stores came close to running out of the most popular currencies on Wednesday [22 June 2016] and, as high demand continues today, we’ve dramatically increased stock levels to cope with the surge demand during the final hours before the result is announced.
“What began as brisk demand from holidaymakers keen to bag a good rate on their currency is increasingly resembling panic buying as people rush to buy now before the result is known.
“With Sterling predicted to fall by as much as 20% if the Leave campaign wins, buying now could make a huge difference to how far their holiday money goes. Whatever the outcome, our shelves will be fully replenished and we’ll be open for business as usual on Friday.”
No.1 Currency will continue to trade as normal both in store and online during the Brexit period with sufficient stock levels in place to meet the high demand.