Guernsey Press

Islanders stock up on euros before referendum

DOUBLE the number of euros have been sold by bureau de change Batif in the lead up to today's EU referendum.

Published

Boley Smillie, chief executive of Guernsey Post which runs it, said it had to order 100,000 euros to meet demand – with some people even reserving them yesterday.

'We have had a run on euros, sales are up 100% on what we would expect for this time of year,' he said. 'The run has just been this week, in the last few days.

'The interesting point for us is that it is good news for business right now, but people might just be buying them ahead of time, so there could be a reduction in how much is being bought later this year.'

Some experts fear the value of the pound will fall if there is a vote for Brexit today, making European holidays more expensive.

Guernsey International Business Association chairman Patrick Firth said if there was a vote to leave, Guernsey would be able to take advantage of its stable position.

'Guernsey has a reputation for innovation as well as stability, so if Brexit happens this would present the island with another opportunity to demonstrate its versatility and flexibility by industry working closely with the States.'

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