Tourists gain as pound ‘holds its own’ against most currencies
HOLIDAYMAKERS PLANNING a winter trip abroad could see their spending money stretch further than a year ago, experts have said.
Post Office Travel Money said sterling is worth more than a year ago against more than 80 per cent of its 40 best-selling holiday currencies.
And the pound is “holding its own” against all European currencies, including the euro, compared with a year ago, the holiday money index found.
Andrew Brown, Post Office head of travel money, said: “What’s interesting is the sheer range of choice available to people who want to ensure they get good value when travelling abroad in the coming months.
“Not only is sterling holding its own against all European currencies at a time when many Britons will be planning visits to cities holding Christmas markets, but there are relatively few winter sun getaways where the pound is weaker than a year ago.”
Among the currencies looked at, sterling’s biggest gains over the past year have been against the Turkish lira and the Brazilian real.
The weakening of the Turkish lira over the last 12 months gives holidaymakers from the UK the equivalent of £139 extra in lira on a £500 currency transaction compared with a year ago.
Those visiting Australia can look forward to the equivalent of £28 extra on a £500 exchange compared to a year ago.
Other currencies which have weakened against sterling include the Icelandic krona, the Russian ruble and the Indonesian rupiah – giving visitors to Bali the equivalent of nearly £50 extra cash to spend on a £500 currency purchase.
Currencies which have strengthened against sterling over the past year include the Kenyan shilling, the Malaysian ringgit, the Japanese yen and the Thai baht, the index found.
Mr Brown said: “The best advice for people planning holidays abroad to get the most for their money is to do their homework on resort and city costs and set a realistic budget.”