Good news for those UK holidaymakers planning on heading into the Eurozone on a shopping spree.

The continued strengthening of the pound against the euro has meant that the average shopper will be able to enjoy around €56 more per head this year. The performance of the sterling is a much needed and welcomed boost to shoppers after recent budgetary frustrations, but key to making the most of the rates is to ensure the best deal is also found on currency exchange.

Currency specialist broker currencies.co.uk, which was formerly known as Foreign Currency Direct, has estimated that 29 per cent of Britons will be holidaying across the Eurozone during summer, meaning nearly a third of the population. Excluding travel costs such as flights and accommodation; they are predicted to spend £702 per person in stores, restaurants and bars. Last summer, that amount would have equated to around €815, but now holidaymakers are receiving €871 – or an extra €56 to spend.

However, despite the improved exchange rate, around two million UK holidaymakers will not make the most benefit of their cash by mostly taking out euros from ATMs overseas, which usually means heavy bank fees. In addition to the multiple bank fees associated with ATMs, yet more will change their cash immediately on arrival at airport exchange kiosks that are notorious for having some of the highest commission rates and poorest exchange deals.

The best bet is to head to the high street banks, where as much as 6 per cent can be saved on all transactions compared to overseas or specialist foreign currency providers.