Irish-based Fexco is to expand its foreign exchange operations in Britain, adding 20 new high street retail outlets.

The move will create 80 jobs and bring to 37 the number of No 1 Currency retail outlets the company has in the UK.

The firm, which currently employs 112 people in the UK and 1,300 in Ireland, bought No 1 Currency in 2012.

Fexco’s director of foreign exchange services Joe Redmond said the company was “delighted” with the growth and performance of the business.

“With today’s announcement of a major expansion of our retail network in the UK, we are reinforcing Fexco’s commitment to growing market share in the world’s most attractive retail foreign exchange market,” he said.

Founded in 1981, Fexco has operations in 28 countries and employs more than 2,000 people across Europe, the Middle East, Asia, North America, Latin America and Australasia.