POLITICAL chaos in France saw the Euro plummet against the Pound last night - in good news for Brits jetting to the continent for summer holidays.
Emmanuel Macron’s shock decision to call parliamentary elections spooked the money markets and sent the currency falling to a two-year low against sterling at 84p.
The French President gambled on a snap poll after his Renaissance party was thumped by Marine Le Pen’s far-right National Rally in the European elections.
It followed a pattern across the continent that saw mainstream governing parties haemorrhage votes to populists standing on anti-EU and immigration platforms.
In a late-night address, a reeling Mr Macron said he was dissolving the French parliament and calling elections because he wanted to “write history, not be driven by it”.
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But his gambit could backfire if the National Rally replicates its successes on Sunday in the round of domestic polls on June 30 and July 7.
It could see Mr Macron serve the rest of his three years as President with the firebrand 28-year-old Jordan Bardella as Prime Minister - plunging France into instability.
Yet it does mean British holidaymakers cashing in their Pounds for Euros this summer will get more bang for their buck.
Ms Le Pen - who is expected to challenge for the top job in 2027 - said her party was “ready to exercise power, ready to put an end to mass immigration”.
Her party won 32 per cent of the EU vote, while Mr Macron’s group crashed to less than 15 per cent.
Meanwhile the far-right AfD party made big gains in Germany, as did Giorgia Meloni’s Brother’s of Italy party.
Macron dissolved France's National Assembly and announced the snap election on Sunday.
He warned that the far-right are threatening the future of France and Europe.
He said: "The rise of nationalists, of demagogues, is a danger for our nation, but also for our Europe, for France's place in Europe and in the world."
In an address to the nation from the Elysee presidential palace, Macron told his country: “I’ve decided to give you back the choice of our parliamentary future through the vote.
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"I am therefore dissolving the National Assembly.
"This decision is serious, heavy. But it is above all an act of confidence."
If you do have a holiday booked and want to take advantage of the current rates, we've some tips on how to ensure you're not short-changed at the exchange.
BUY AHEAD
Buying your foreign currency ahead of when you travel means you can search around for the best rates.
Don't buy cash at the airport on the day - these are usually among the worst rates around.
According to FairFX, exchange rates at airports can be over 20% more expensive, meaning you could lose over £200 of cash for every £1,000 you change.
You'll more often than not be able to get better rates at other places if you plan ahead.
Airport exchange desk rates are generally higher as they have a captive market among those changing cash last minute and don't need to be competitive.
USE COMPARISON WEBSITES
Compare travel money companies online, including the rates and any fees, to find the best deal.
Factor in delivery costs and choose the option that gives you the most cash to spend on holiday.
If you have left it too late, you might still be able to order online and collect it at the airport.
You can use comparison websites such as MoneySavingExpert.com's TravelMoneyMax, where you can compare pick-up and pre-order rates.
DON'T USE YOUR CREDIT CARD
Never pay for travel money with a credit card.
Transactions like this are usually treated as a cash withdrawal.
This means you're likely to pay a cash fee and have interest added even if you fully repay.
It's best to always use a debit card or cash to buy currency.
