Martin Lewis shares update for cashing in euros before Brexit - exchange rate to change

Martin Lewis appeared on This Morning to share his money saving tips. He shared an update on what Brexit could do to the exchange rate and how the deal will affect if it is good or bad news for those hoping to exchange money.

“I’ve got some euros of around £1,400. What should I do?”

Many Britons may have been left with excess foreign currency as coronavirus put travel plans on hold this year.

However, Martin revealed there is no simple answer for handling unwanted euros.

The Money Saving Expert explained it is difficult to tell what will happen with the exchange rate.

DON’T MISS

The exchange rate will change depending on the outcome of Brexit negotiations.

Until then, Martin said it is not obvious what to do when exchanging cash.

He commented: “If you’re trying to play the markets, the markets factor in what they know so that price is already in.

“It’s likely if we have a no deal Brexit, the markets don’t like that and the pound will get weaker.

Continuing Brexit talks have caused the rate to flicker this week.

Speaking to Express.co.uk, currency expert at Caxton FX Michael Brown commented on the latest figures.