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Today's rate was 1.21 (to you & I) inter-bank rate 1.23
ALWAYS best to change in the country you visit, using a Nationwide account - they tend to give commercial rates!
I think it's been said on other threads before, but the best in my experience is to bring a debit card and use a cashpoint here. We always found this better than anything else, and means you don't have to carry much cash around with you at any one time.
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Re: Exchange Rate 1-15/£
Thanks, we have a Solbank bank account, so use that, but needed a little cash before we came out, I was shocked at such a low rate. For the past year we have got around 1-26/£ when we have sent money over via the bank.
Solbank will also give you a poor exchange rate as they are in business like First Choice to make money. We have recently sold our apartment here in Tenerife and have an account with Solbank and when I asked them for a rate to transfer some money back to the UK it was an absolute joke the rate they quoted.
I think it's been said on other threads before, but the best in my experience is to bring a debit card and use a cashpoint here. We always found this better than anything else, and means you don't have to carry much cash around with you at any one time.
But please please PLEASE bring a second card as back-up. If your card is lost, stolen, broken, eaten by a cash machine or blocked by your bank because they didn't know you were going abroad, believe me your holiday will be soooo much better if you have a second card to fall back on, ideally for an account with a different bank
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Exchange Rate 1-15/£ 
it's been suggested before that there is politics behind this, given the British resistance to the Euro .........
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