Pound falling against many holiday currencies

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

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.

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.

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.

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