Pound falling against many holiday currencies

Simon Ward
by Lovemoney Staff Simon Ward on 26 February 2013  |  Comments 7 comments

New research finds that the pound buys less of the local currency in the majority of our favourite destinations.

Pound falling against many holiday currencies

The pound is continuing to fall against many major currencies, meaning our holiday money is buying less than before. The pound has fallen by 8% against the euro since early January and by 6.7% against the dollar.

Of the 40 currencies the Post Office tracks for its regular Holiday Money Report sterling has weakened year-on-year against 27 of them.

The biggest fallers

Here are the currencies the pound has fallen most sharply against since this time last year.

Currency

Percentage decrease in strength of pound against currency since February 2012

Bulgarian lev

-9.1%

Swedish kronor

-8.5%

Thai baht

-6.9%

Euro

-6.3%

Norwegian krone

-6.2%

Singapore dollar

-5.3%

Of course, if you came home with a fair amount of any of the above currencies and you don’t plan to go away again in the foreseeable future, now is a good time to cash it in.

Where your money will go further

However, there are some places where sterling is on the rise.

The latest Post Office figures show the pound has risen 14% against the Japanese yen compared to a year ago. And you’ll get 11% more South African rand than you would last year and 10.5% more Argentinian pesos.

Here are the holiday destinations where the pound has got stronger against the local currency over the past 12 months.

Currency

Percentage increase in strength of pound against currency since February 2012

Japanese yen

14%

South African rand

11.6%

Argentinian peso

10.5%

Gambian dalasi

10%

Brazilian real

9.4%

Egyptian pound

6.9%

Sri Lankan rupee

5.3%

Indonesian rupiah

2.7%

Jamaican dollar

1.8%

Australian dollar

0.7%

Kenyan shilling

0.4%

Dominican peso oro

0.4%

Icelandic krona

0.2%

So if you fancy some last-minute winter sun, you’ll get more travel money heading to the likes of South Africa, the Gambia and Egypt.

More on travel

The cheapest holiday destinations in 2013

The best websites for bargain holidays

How to get a cheap flight

How to get a bargain hotel room

How to get top travel insurance for your holiday

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Comments (7)

  • jonnie2thumbs
    Love rating 107
    jonnie2thumbs said

    and can anyone tell me what percentage the Bulgarian, Swedish, Thai, Norwegian, and Singapore share of the holiday market is? I'd guess around 5% - if that

    Report on 27 February 2013  |  Love thisLove  0 loves
  • Salfordguy
    Love rating 22
    Salfordguy said

    Isn't Sweden really expensive to go to anyway? It won't make much difference in the Euro zone, they manipulate prices in resorts to suit the tourists pocket.

    Report on 27 February 2013  |  Love thisLove  0 loves

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