Thieves stole £2,000 from language students at St Hugh's College in St Margaret's Road, Oxford.
The money, which belonged to 27 summer school students and had been entrusted to a group leader, was taken along with suitcases and wallets at 6.40pm on Tuesday after a room was broken into.
Police have asked foreign money exchanges to be on the alert for anyone trying to change a large amount of Italian currency.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article