A word of warning over sterling

Be warned, tourist exchange offices in central London are giving you a rate of exchange of 1.20 euros which is almost what the pound was in the boom days. While the pound has enjoyed a recent rally against the euro it still stands at 1.10 euros on the international exchanges market.

The hefty commission which is being charged could give Spanish tourists a shock when they head to London for some bargains. But even with the commission, many Balearic residents could still find the British capital relatively cheap. “It is not a question of London being cheap (it was recently voted one of the most expensive capitals in the world), it is more a question of Majorca being expensive,” said one tourism official this week. With the credit crunch many London restaurants have been forced to cut their prices and as a direct result you can eat out in London for about 20 pounds sterling a head and this is a three course meal in a good standard restaurant with wine (a glass). In Majorca 25 euros doesn´t go that far.