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Where can you beat the Brexit effect on holiday? Where can you beat the Brexit effect on holiday?
(35 minutes later)
Brits dreaming of a winter getaway in the sun could make their pounds go further in a handful of foreign destinations despite the sharp fall in the pound since the Brexit vote.Brits dreaming of a winter getaway in the sun could make their pounds go further in a handful of foreign destinations despite the sharp fall in the pound since the Brexit vote.
Sterling has fallen against 46 out of the 50 most common global currencies in 2016, but a pound is worth more than it was a year ago in Mexico, Argentina, Venezuela and Egypt, according to travel money specialist No1 Currency. Sterling has fallen against 46 of the 50 most common global currencies in 2016, but a pound is worth more than it was a year ago in Mexico, Argentina, Venezuela and Egypt, according to travel money specialist No1 Currency.
Simon Phillips, retail director, said: “Sterling began 2016 on a roll but has struggled badly since June’s EU referendum. Despite recovering a little in recent months, the pound is still well down against many of the most popular foreign currencies. As a result, more holidaymakers are considering destinations further afield where their pounds will go further.”Simon Phillips, retail director, said: “Sterling began 2016 on a roll but has struggled badly since June’s EU referendum. Despite recovering a little in recent months, the pound is still well down against many of the most popular foreign currencies. As a result, more holidaymakers are considering destinations further afield where their pounds will go further.”
The British pound is up 86% against the Egyptian pound, 32% against the Argentine peso, 29% against the Venezuelan bolivar, and 3% against the Mexican peso compared with last December. The British pound is up 86% against the Egyptian pound, 32% against the Argentinian peso, 29% against the Venezuelan bolivar, and 3% against the Mexican peso compared with last December.
At the other end of the scale, the pound has plunged 30% against the Icelandic krona, making a trip to see the Northern Lights costlier this Christmas. At the other end of the scale, the pound has plunged 30% against the Icelandic krona, making a trip to see the northern lights costlier this Christmas.
Sterling has also fallen 18% against the US dollar and the euro, making popular destinations across the Atlantic and on the continent less affordable for British holidaymakers.Sterling has also fallen 18% against the US dollar and the euro, making popular destinations across the Atlantic and on the continent less affordable for British holidaymakers.