The value of the pound against the euro and US dollar has risen by 3.8% and 5.5% respectively
Brits heading overseas this summer are set to get more bang for their buck as the pound has strengthened against most major currencies.
According to Post Office Travel Money, the pound is now worth more than it was a year ago against 21 out of 25 popular holiday destinations. Holidaymakers will get the biggest boost when exchanging pounds for Turkish lira (up 72. 9%), Kenyan shillings (up 20.9%), Japanese yen (up 15. 7%) and Czech koruna (up 12.7%).
The only currencies that the pound has weakened against are the Polish zloty, Costa Rican colon, Swiss franc and Mexican peso. Laura Plunkett, head of travel money at Post Office, said: “Sterling’s current buoyancy against most leading holiday currencies including the euro and US dollar 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. Good examples of this range from Turkey and the Czech Republic in Europe to Kenya, Thailand and Vietnam further afield.”
Post Office Travel Money said that their analysis of currency sales exhibits a significant increase in those for Caribbean destinations over the past year. For instance, purchases of East Caribbean dollars more than doubled and Barbados dollars rose up by 64%.
