Pound to euro exchange: Sterling slumps to record low as millions of Brits head off on summer holidays

As Brits head abroad at the start of the summer holidays they are facing some of the worst exchange rates yet after the pound plummeted against the euro.

At the start of the weekend the exchange rate was €1.11 – down from €1.132 before Thursday – but some airports were offering less than €1.

Gatwick, Luton and Birmingham airports were among those offering less than £1 and Cardiff offered just 88 cents.

Travellers have been advised to exchange their currency before arriving at the airport to avoid the less favourable rates.

The slump in sterling comes as 2.4 million Brits head out of the UK on their summer holidays.

Recent Brexit negotiations have been blamed for the plunge but travel experts also said high staffing and rent costs at airports have contributed.