Ananova:

Currency experts say they have worked out the value of galleons in JK Rowling's Harry Potter books.

Travelex reckon each gold galleon is worth £5.01p, or 7.39 euros, making Hogwarts an expensive option.

Kitting out young witches and wizards for their first year at the school would cost parents about £1,700, just for the basics.

That means a magic wand would be £35.08 and a superior broomstick, like Harry Potter's Nimbus 2000, would set you back £1,503.

Saskia van Opijnen, director of Travelex, said they had based their calculations on JK Rowling's books and on interviews with the author.

Opijnen said: "This is the first time that we have dealt with a currency from another world. Magic money is a very sturdy currency that could assert itself on the international money market."