- Despite the Pound’s yo-yoing fortunes over the last 12 months, Brits are now getting a better exchange rate in more than three-quarters of the top holiday destinations
- The Pound is doing best against the Turkish Lira, rising 17% since last Christmas, while doing worst against the Polish Zloty – dropping 9%
- The Atlantic divide is stark, with sterling up 7% against the US Dollar but down 4% against the Euro
- The Pound has rocketed against the currencies of far-flung destinations, making big gains in Costa Rica, Sri Lanka, Indonesia and Kenya while it’s fallen against currencies closer to home – like those of Croatia, Hungary and Sweden
London 19th December 2017 – Despite Brexit uncertainty and the fluctuating value of the Pound, Brits are now getting a better exchange rate than at this time last year in more than three-quarters of the top holiday destinations – according to new research by the travel money specialist No1 Currency.
Since Christmas last year, the Pound has risen in value by more than 4% against half of the most popular foreign currencies. Turkey, for example, has seen the Pound strengthen against the Turkish Lira by 17% since last year.
Things are not looking good in the Eurozone as the Pound is down 4% against the Euro. This year a family holiday to Europe costing €2000 will set you back an additional £80. America, on the other hand, is looking more attractive, with sterling up 7% against the US Dollar. This year every £1000 exchanged into Dollars will buy you $90 more than last year.
The best exchange rates are in countries further away – the Pound is stronger against the Costa Rican Colon, Sri Lankan Rupee, Indonesian Rupiah and the Kenyan Shilling. A trip to Costa Rica is 12% less expensive than last year and Indonesia and Kenya are 9% cheaper.
Apart from the Swiss Franc and the Norwegian Krone, which are up 3.96% and 4.18% respectively, Brits will see worse exchange rates in countries closer to home. As well as the Eurozone – Croatia, Hungary and Sweden are all more expensive this year. Poland is at rock bottom with everything in Poland costing Brits 9% more than it did at this time last year.
Simon Phillips, Retail Director at No1 Currency, comments: “On the face of it, it’s been a rocky year for the Pound.
“Dig a little deeper and you’ll find that in three-quarters of holiday hotspots, you can actually get more for your currency than you could a year ago. For those planning to get away to one of those destinations where the native currency has dropped by more than 5% against the sterling, it’ll feel like Christmas has come early.
“However there are still a number of countries where the Pound is worse off than last year. For those who have left their festive destination planning to the last minute, it’s worth looking around to see whether you’ll be getting more for your Pound.
“It’s an interesting payoff. On the whole, currencies in countries closer to home will cost you more than last year, yet countries further away will give you better rates – so although flights will be more expensive, your daily spending money could well go further.
“Wherever you’re planning to go, make sure you shop around for your currency before you head off on holiday, as leaving it until the airport or even until you’re overseas can leave you out of pocket.”
|
Country |
Currency |
Currency per Pound (2016) (Dec 19th) |
Currency per Pound (2017) (Dec 19th) |
Percentage increase/ decrease |
|
Turkey |
Turkish Lira |
4.37 |
5.13 |
17.39% |
|
Costa Rica |
Costa Rican Colon |
675.47 |
757.67 |
12.16% |
|
Sri Lanka |
Sri Lankan Rupee |
185.07 |
205.12 |
10.83% |
|
Indonesia |
Indonesian Rupiah |
16622.00 |
18176.89 |
9.49% |
|
Kenya |
Kenyan Shilling |
126.62 |
138.03 |
9.01% |
|
Cambodia |
Cambodian Riel |
4990.81 |
5432.49 |
8.84% |
|
Vietnam |
Vietnamese Dong |
27965.41 |
30421.06 |
8.78% |
|
Philippines |
Philippine Peso |
62.07 |
67.50 |
8.74% |
|
Hong Kong |
Hong Kong Dollar |
9.64 |
10.47 |
8.60% |
|
Caribbean |
Caribbean Dollar |
3.35 |
3.61 |
7.76% |
|
Barbados |
Barbadian Dollar |
2.48 |
2.67 |
7.66% |
|
USA |
American Dollar |
1.24 |
1.33 |
7.25% |
|
Cuba |
Cuban Peso |
1.24 |
1.33 |
7.25% |
|
Bahamas |
Bahamian Dollar |
1.24 |
1.33 |
7.25% |
|
New Zealand |
NZ Dollar |
1.78 |
1.90 |
6.74% |
|
Colombia |
Colombian Peso |
3738.43 |
3988.14 |
6.67% |
|
Brazil |
Brazilian Real |
4.19 |
4.40 |
5.01% |
|
Jamaica |
Jamaican Dollar |
159.79 |
167.19 |
4.63% |
|
Fiji |
Fijian Dollar |
2.63 |
2.75 |
4.56% |
|
Peru |
Peruvian Sol |
4.21 |
4.39 |
4.27% |
|
Norway |
Norwegian Krone |
10.74 |
11.19 |
4.18% |
|
Japan |
Japanese Yen |
144.81 |
150.76 |
4.10% |
|
Switzerland |
Swiss Franc |
1.26 |
1.31 |
3.96% |
|
Canada |
Canadian Dollar |
1.66 |
1.72 |
3.61% |
|
China |
Chinese Renminbi |
8.63 |
8.84 |
2.43% |
|
Australia |
Australian Dollar |
1.70 |
1.74 |
2.35% |
|
Russia |
Russian Rouble |
76.79 |
78.40 |
2.09% |
|
India |
Indian Rupee |
84.73 |
85.76 |
1.21% |
|
Mexico |
Mexican Peso |
25.30 |
25.54 |
0.94% |
|
Egypt |
Egyptian Pound |
23.71 |
23.92 |
0.88% |
|
Singapore |
Singapore Dollar |
1.79 |
1.80 |
0.55% |
|
Morocco |
Moroccan Dirham |
12.63 |
12.65 |
0.15% |
|
Thailand |
Thai Baht |
44.53 |
43.78 |
-1.68% |
|
Malaysia |
Malaysian Ringgit |
5.56 |
5.46 |
-1.79% |
|
Israel |
Israeli Shekel |
4.79 |
4.68 |
-2.29% |
|
South Africa |
South African Rand |
17.50 |
17.08 |
-2.40% |
|
Sweden |
Swedish Krona |
11.60 |
11.26 |
-2.93% |
|
Hungary |
Hungarian Forint |
370.36 |
354.71 |
-4.22% |
|
Eurozone |
Euro |
1.18 |
1.13 |
-4.23% |
|
Croatia |
Croatian Kuna |
8.95 |
8.55 |
-4.46% |
|
Poland |
Polish Zloty |
5.25 |
4.75 |
-9.52% |