Police were called to reports of a robbery at Althams Travel, in High Street, Yeadon, shortly after 9am.
A man armed with a knife had entered the shop and demanded that staff hand him cash from the safe.
He left with a large amount of cash in Euros and other currencies including Hong Kong dollars, Mexican Pesos and Swiss Francs. No-one was injured in the incident.
A Yeadon resident, who wished to remain anonymous, told the YEP that she saw several police cars, vans and a police helicopter at the scene which was taped off by officers at around 9.15am.
She said: “I’ve never seen anything like that in Yeadon. One would hope it is an isolated incident.
“It’s a horrible thing that must have happened to people that have worked there.”
Police are now appealing for information, as they hunt the robber.
Sergeant Paul Kravtschuk, of the Proactive Robbery Team, said: “He was described as white, aged in his forties and 6ft to 6ft 2ins tall.
“He was wearing a green and blue jacket, a green woolly hat under a hood, a green tartan scarf, faded blue jeans and white trainers.
“We would like to hear from anyone who saw a man fitting his description in the area either before or after the robbery.”
Call Weetwood Police Station on 101 or Crimestoppers anonymously on 0800 555111 with information.