The pound is surging in value against the currencies of some green-list destinations - but holidaymakers will have to travel a long way to get the best value.
Travel money specialist, FairFX, has revealed the best-value destinations on the UK Government’s updated ‘green list’, after holidaymakers were given the green light to head to destinations including Canada, Switzerland, Finland, Denmark and the Azores.
FairFX analysed the strength of the pound against the local currency of green list destinations to see they rate compared to the start of lockdown.
Hong Kong came out top where the pound is up more than 18 per cent against the Hong Kong dollar, compared to March 2020 when the UK first went into lockdown giving an extra £153 worth of currency for every £1,000.
Caribbean destinations on the green list including Turks and Caicos, Bermuda, The Cayman Islands, and Barbados could also offer British holidaymakers seeking some late summer sun more for their money.
The pound is currently up 18 per cent against the US dollar, Bermudian dollar, Caymanian dollar, Barbadian dollar and East Caribbean dollar, meaning travellers would benefit from an extra £151 for every £1,000 of local currency.
Closer to home, the pound is up nine per cent against the Swiss franc adding an extra £84 for every £1,000 exchanged when heading to Liechtenstein and Switzerland. The pound is also up eight per cent against the Romanian lieu, for an additional £72 worth of currency.
Although the pound has strengthened against some currencies, the outlook is less positive for those heading to Norway, where its value is down eight per cent against the Norwegian krone. This means travellers get £85 less for for every £1,000 compared to March last year.
The pound is also down against the Australian dollar and New Zealand dollar, although with tough entry requirements likely to remain in place for some time, this is unlikely to impact British holidaymakers at present.
Ian Strafford-Taylor, of FairFX, said: “To get the most for their money, holidaymakers should shop around to find the best last minute summer holiday deals and monitor the pound so they can lock in rates while they're high.”
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