Currency

linney

When in Europe and asked if you prefer to pay in Euros or sterling - which is the best?

luci

Probably euros otherwise they will use their own exchange rate for sterling which is unlikely to be in your favour.

Quietmanc

I agree with luci,but I would say definitely Euros.This is a well known ploy used by some establishments to increase their profits at your expense.

stephb34

Definitely euros, but even when i've stated to pay in euros because not everyone asks, i've still been converted to sterling.

jackieblack

If you check out Martin's advice in the Cheap Travel Money section ( http://www.moneysavingexpert.com/travel/cheap-travel-money )he says this:

If I spend abroad & they let me pay in pounds, is it worth it?
A. No. This is called dynamic currency exchange, and should be avoided. Often the rate you get will be appalling and someone’s making big money out of it. If you’ve got one of the specialist overseas cards you’ll get a much better rate paying in the foreign currency not pounds. And even if you’re using a normal card as you’ve no idea of the relative exchange rates they could be playing you for a fool; so it's always best to stick with paying in the foreign currency.
If you're travelling to Spain, watch out for this when withdrawing money from cash machines too. You will often be asked if you want to have your money converted into Sterling when withdrawing Euros from ATMs. The general rule is say no as you could get a worse rate than the one you’d be given by your own plastic provider.
Yet a few machines now tell you the commission/load they add to the currency, if this is less than your card's own load (eg it's 2.5% and your card is 2.75%) do opt to pay in pounds. However if you have one of the special cheap travel cards, they’re always unbeatable so select euros.