Travel cash boosted by strength of sterling
UK HOLIDAYMAKERS are benefiting from an increase in the value of sterling against most foreign currencies in popular destinations, according to new research.
Post Office Travel Money said the pound is up against 21 out of 25 currencies analysed, compared with a year ago.
While the value of the pound against the euro and US dollar has risen by 3.8% and 5.5% respectively, travellers will benefit from much larger boosts when visiting Turkey (up 72.9%), Kenya (up 20.9%), Japan (up 15.7%) and the Czech Republic (up 12.7%).
Turkey has suffered an economic crisis causing a collapse in the value of the lira.
Sterling has also gained in value against currencies in Thailand (up 9.9%), South Africa (up 9.2%) and Norway (up 5.8%).
The only four currencies analysed which sterling has weakened against are the Polish zloty (down 4.3%), Costa Rican colon (down 2.7%), Swiss franc (down 1.4%) and Mexican peso (down 0.8%).
Laura Plunkett, head of travel money at Post Office, said sterling’s current buoyancy “provides a great incentive for Britons considering trips abroad in the coming months.
“Most currencies have weakened against the pound in the past year, and many of these are for destinations that traditionally offer the cheapest prices for meals, drinks and other tourist staples.”
Post Office Travel Money said analysis of currency sales shows those for Caribbean destinations have risen the most over the past year, with purchases of East Caribbean dollars more than doubling and Barbados dollars up 64%.
A strong pound may prove to be a good incentive to travel abroad