TRADERS along the border
are enjoying a boost in business as customers flock
from the North to enjoy the strongest sterling
exchange rates seen for years.
Petrol stations in border villages such as Muff, Co
Donegal, are among those benefiting from the
differential as 'Northern reg' drivers queue to fill
up.
On the currency markets yesterday, one pound
sterling was worth just over €1.23.
But some forecourts are offering as much as €1.25 to
attract customers.
McGonigle's Maxol station in Muff is one outlet that
has been enjoying a sales bounce in recent weeks.
The station – located about three miles from Derry
city - is currently offering sterling customers an
extra 25c on the pound. Their petrol and diesel
prices per litre yesterday were 162.4c and 155.9c,
respectively.
"We are generally steady, but we have noticed things
a lot busier in the last couple of weeks due to the
euro getting weaker and everything that's happening
in Greece,” said the outlet’s manager, Frances
Gallagher.
"These days, the banks might give about 22% on
sterling if you’re lucky, but we are being that
little bit more generous," she added.
Other forecourts in the village are also offering
the same 25 per cent exchange rate to boost
business.
Meanwhile, the weaker euro is also making it more
expensive for people to shop in cities such as
Derry.
Kieran Doherty is manager of SuperValu in Buncrana,
Co Donegal, and is also vice-chairman of the town's
chamber of commerce. He says there has been a
noticeable rise in trade at the store in recent
weeks as people opt to shop locally.
"Our sales are up about 4% in the last fortnight and
are also up on the same period last year.
"Not as many people are travelling across to shop in
Derry because of the poor euro exchange rates,” said
Mr Doherty.
“People also factor in the cost of diesel and the
extra time it takes to go and shop in the North plus
we are giving more and more value to our customers
in the store. All of these factors are definitely
helping our business," said Mr Doherty.
Mayor of Buncrana, Cllr Nicholas Crossan, said the
seaside town expected a significant rise in the
number of tourists from Britain and the North this
summer as the euro slides.
"People are amazed at the value and quality they can
get here in our hotels, restaurants, cafes and other
businesses. Similarly, local people who might have
got into the habit of shopping in Derry when the
euro was stronger, are now seeing the great value
they can get at home." |
