Brits dreaming of a winter getaway in the sun could make their pounds go further in a handful of foreign destinations despite the sharp fall in the pound since the Brexit vote.
Sterling has fallen against 46 of the 50 most common global currencies in 2016, but a pound is worth more than it was a year ago in Mexico, Argentina, Venezuela and Egypt, according to travel money specialist No1 Currency.
Simon Phillips, retail director, said: “Sterling began 2016 on a roll but has struggled badly since June’s EU referendum. Despite recovering a little in recent months, the pound is still well down against many of the most popular foreign currencies. As a result, more holidaymakers are considering destinations further afield where their pounds will go further.”
The British pound is up 86% against the Egyptian pound, 32% against the Argentinian peso, 29% against the Venezuelan bolivar, and 3% against the Mexican peso compared with last December.
At the other end of the scale, the pound has plunged 30% against the Icelandic krona, making a trip to see the northern lights costlier this Christmas.
Sterling has also fallen 18% against the US dollar and the euro, making popular destinations across the Atlantic and on the continent less affordable for British holidaymakers.
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