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In certain tourist areas - namely London more and more shops will take Euro's but I don't think many shopowners here in carrott crunching land have even heard of them.
xe.com Universal Currency Converter™ Results
Live mid-market rates as of 2002.05.31 08:40:37 GMT.
470.00 Euro = 300.465 GBP United Kingdom Pounds
1 EUR = 0.639287 GBP 1 GBP = 1.56424 EUR
www.xe.com
Although you calculations are not accurate, it is still quite overpriced.
400.00 Euro = 255.766 GBP United Kingdom Pounds
thats more like it and while it is overpriced, its not 'that' much more.