LOOKING FOR A HOLIDAY DESTINATION WHERE YOUR POUND GOES FURTHER? THINK PESOS, PAMPAS AND PYRAMIDS

LOOKING FOR A HOLIDAY DESTINATION WHERE YOUR POUND GOES FURTHER? THINK PESOS, PAMPAS AND PYRAMIDS

accounts-crystal-palaceLOOKING FOR A HOLIDAY DESTINATION WHERE YOUR POUND GOES FURTHER? THINK PESOS, PAMPAS AND PYRAMIDS

  • The Pound has weakened against 46 of the 50 most popular global currencies in 2016
  • But a trip to the Red Sea could still leave you in the black after sterling rocketed by 86% against the Egyptian Pound
  • Brits face being frozen out of Iceland after sterling plunged by nearly a third against the Icelandic Krona 

2016 has not been a vintage year for the Pound. New research by the travel money specialist No1 Currency has revealed that sterling fell against 46 of the 50 most common global currencies – meaning most foreign holidays cost more than they did a year ago.

GOOD NEWS

However, there is some good news for anyone hoping to escape the December chill – the beleaguered Pound does go further in a handful of destinations, and all of them offer the prospect of some winter sun.

Top of the Christmas getaway tree is Egypt, home to the Valley of the Kings and the pristine waters of the Red Sea. Egypt’s currency – also called the Pound – has had a terrible year, and Sterling is currently worth 86% more against the Egyptian Pound than it was last December.

For those inspired by Ed Balls’ gyrations on the Strictly dancefloor, a trip to the home of the tango – Buenos Aires – could be a bargain after the Pound rose by nearly a third (32%) against the Argentine Peso. Argentina’s capital is currently basking in average daytime temperatures of 24 degrees.

But at the other end of the scale, sterling’s dramatic fall is likely to send a chill down the spine of British holidaymakers. Iceland’s footballers humiliated England at Euro 2016, and its currency now threatens to freeze out Britons this winter. Sterling’s 30% fall against the Icelandic Krona means anyone travelling to the volcanic island to see the Northern Lights this Christmas will return with a much lighter wallet.

Table: Sterling’s performance against 50 popular global currencies over the past year

Country Currency How much £1 bought on 01.12.15 How much £1 bought on 01.12.16 % increase / decrease in exchange rate
Egypt Egyptian Pound 11.798

 

22.002

 

86.49%
Argentina Argentine Peso 14.609

 

19.215

 

31.53%
Venezuela Venezuelan Bolivar 9.568

 

12.368

 

29.26%
Mexico Mexican Peso 24.908

 

25.641

 

2.94%
Turkey Turkish Lira 4.359

 

4.238

 

-2.78%
Jamaica Jamaican Dollar 179.309

 

159.891

 

-10.83%
China Yuan 9.644

 

8.544

 

-11.41%
Sweden Swedish Krona 13.103

 

11.426

 

-12.798
Malaysia Malaysian Ringgit 6.367

 

5.538

 

-13.02%
Philippines Philippine Peso 71.071

 

61.715

 

-13.16%
Poland Polish Zloty 6.076

 

5.173

 

-14.86%
Sri Lanka Sri Lankan Rupee 215.644

 

183.512

 

-14.90%
India Indian Rupee 100.161

 

85.151

 

-14.99%
Nepal Nepalese Rupee 160.445

 

135.973

 

-15.25%
Costa Rica Costa Rican Colon 800.462

 

678.028

 

-15.295
Dominican Republic Dominican Peso 68.409

 

57.137

 

-16.48%
Singapore Singapore Dollar 2.120

 

1.767

 

-16.65%
Peru Peruvian Sol 5.089

 

4.235

 

-16.78%
Colombia Colombian Peso 4716.918 3905.835  

-17.20%

Canada Canadian Dollar 2.014

 

1.665

 

-17.33%
Morocco Moroccan Dirham 15.147

 

12.510

 

-17.41%
Eurozone Euro 1.4189

 

1.170

 

-17.54%
Czech Republic Czech Koruna 38.348

 

31.614

 

-17.56%
Hong Kong Hong Kong Dollar 11.681

 

9.618

 

-17.66%
Saint Lucia East Caribbean Dollar 4.068

 

3.348

 

-17.70%
UAE Emirati Dirham 5.534

 

4.554

 

-17.71%
Cuba Cuban Peso 39.930

 

32.859

 

-17.71%
US US Dollar 1.507

 

1.240

 

-17.72%
Barbados Bajan Dollar 3.014

 

2.480

 

-17.72%
Hungary Hungarian Forint 442.529

 

364.120

 

-17.72%
Denmark Danish Krone 10.585

 

8.702

 

-17.79%
Kenya Kenyan Shilling 154.010

 

126.202

 

-18.06%
Thailand Thai Baht 53.917

 

44.125

 

-18.16%
Bolivia Bolivian Boliviano 10.411

 

8.518

 

-18.18%
Israel Israeli Shekel 5.833

 

4.761

 

-18.38%
Norway Norwegian Krone 13.027

 

10.616

 

-18.51%
Croatia Croatian Kuna 10.831

 

8.815

 

-18.61%
Mauritius Mauritian Rupee 54.772

 

44.576

 

-18.62%
Cambodia Cambodian Riel 6094.504

 

4959.791

 

-18.62%
Botswana Botswana Pula 16.383

 

13.295

 

-18.85%
Switzerland Swiss Franc 1.551

 

1.257

 

-18.96%
Australia Australian Dollar 2.059

 

1.658

 

-19.48%
Russia Russian Ruble 100.317

 

80.298

 

-19.96%
Fiji Fijian Dollar 3.244

 

2.595

 

-20.01%
Chile Chilean Peso 1060.326

 

838.193

 

-20.95%
South Africa South African Rand 21.747

 

17.073

 

-21.49%

 

New Zealand New Zealand Dollar 2.256

 

1.751

 

-22.38%
Japan Japanese Yen 185.156

 

138.822

 

-25.02%
Brazil Brazilian Real 5.797

 

4.222

 

-27.17%
Iceland Icelandic Krona 199.440

 

139.93 -29.84%

Simon Phillips, Retail Director at No.1 Currency, comments: “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 – and being increasingly savvy in the way they buy their foreign currency.

“While the exchange rate is an important factor when choosing a holiday, it is not the only one; and a little forward planning can ensure you get the best possible deal when changing your sterling.

“Never leave it to the last minute, as exchanging money at the airport could leave you with up to a third less foreign currency than if you had pre-ordered online.”

Originally posted on 6th December 2016 @ 7:38 pm

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