Greedy currency firms are cashing in on uncertainty following the Brexit vote and are exploiting holidaymakers by offering less than a euro per pound, a Daily Mail investigation has found. Last night furious MPs criticised 'rip-off merchants' for taking advantage of the public's lack of financial knowledge to offer rock-bottom exchange rates. Following the EU vote, sterling fell 10 per cent against the euro – and to a 31-year low against the dollar. On the night of the referendum – June 23 – £1 was worth 1.31 euros or $1.50.After the result, rates tumbled to 1.22 euros and $1.34 per pound. And the market rate for sterling has since fallen to around 1.173 euros (shown on the map, top) and $1.30. Moneycorp last night said it had not increased its margins and rates differ between online and airports. Travelex (bottom) said its rates took into consideration 'volatility in the market'.
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