Best-value destinations on the newly-announced UK Government ‘green list’ where the pound goes furthest have been revealed.
Travel money specialist FairFX analysed the strength of the pound against the local currency of destinations on the green list to see how it compares with rates at the start of lockdown.
Coming out in joint top position are Singapore and Brunei, where the pound is up 11 per cent against both the Singapore dollar and Bruneian dollar compared to March 2020 when the UK was first plunged into lockdown.
If British tourists were welcomed in Singapore or Brunei, they would get an extra £50 worth of currency for every £500 exchanged.
This could be good news for UK visitors, however they are still currently required to serve Singapore’s stay-home notice (SHN) – which means at least 14 days of quarantine in their place of residence or a dedicated SHN facility such as a government-approved hotel, along with Covid tests.
Visitors travelling to Brunei will also be required to pay for Covid tests and serve a period of quarantine in a government-designated facility.
In second place on the list is the euro, as the pound is currently up 10 per cent against the single currency compared to the start of the first lockdown. This means holidaymakers would get an extra £38 for every £500 exchanged – good news for those hoping to head to Portugal, the Azores or Madeira.
The pound is also up eight per cent against both Icelandic krona, so Brits would receive an extra £36 for every £500 exchanged.
British overseas territories included in the list, such as South Georgia and South Sandwich Islands or the Falkland Islands use sterling as the accepted currency.
Ian Strafford-Taylor, chief executive of FairFX, said: “It’s been a tricky few weeks for the travel industry and while the government’s announcement of green-list countries does provide some clarity, it is far more limited than many had hoped.
“Paired with the fact that the likes of Australia and New Zealand are all but closed for tourists, and the strict quarantine rules in place in Singapore, Brits don’t have a great deal of choice when it comes to booking their summer break.
“Following the pound can be a great way to get better value abroad, but wherever travellers go they need to keep a close eye on rates and buy when the pound is strong rather than waiting and losing out if rates dip.”
