Travel

Brexit: Head to this one destination for best pound exchange rate Post Office reveals


Holidays often see globetrotters withdrawing travel money if they are heading away from the UK. The exchange rate can prove hugely frustrating as it changes from day to day. By making the most of a good exchange rate, Britons can avoid losing out on money. Brexit can make this difficult as the pound to euro exchange rate fluctuates regularly. 

So if you’re looking to avoid the perils of the volatile rate it could be worth heading to a country where sterling will go further.

Post Office Travel Money’s latest Holiday Money Index for 2019 has revealed where the best destinations for GBP are right now.

Scandinavia is currently the best destination for Britons on the hunt for a favourable exchange rate, according to the findings.

The report highlighted Norway, Sweden and Iceland as good countries for British holidaymakers wanting a positive rate.

“At a time when Norway attracts UK visitors to see the Northern Lights, sterling has strengthened by 10.1 percent year-on-year against the Norwegian krone,” said the Post Office.

“The UK pound is also 6.4 percent stronger against the Swedish kronor and has risen 5.4 percent against the Icelandic krona.”

Europe accounts for seven of the currencies that have weakened against sterling, showed the report.

“City breaks remain the most popular holiday choice for Britons,” said the Post Office, pointing out the advantages of Budapest at this time.

“The weakness of the Hungarian forint should prove an incentive for visits to Budapest, which recently topped the chart of best value cities for a cultural break,” stated the report.

“With sterling now 4.8 percent stronger than a year ago, the Hungarian capital should be a top choice for an Advent Markets visit in the run-up to Christmas.”

Nick Boden, Post Office Head of Travel Money, added: “No-one really knows what is going to happen to sterling in the coming weeks, so the best advice for those planning holidays abroad is to do their homework on resort and city costs and set a realistic budget.

“Our research reveals an average overseas spend of over £500 so it makes sense to take advantage of the improved exchange rates offered in our branches and online when you change this amount.

“Changing money abroad could cost more as rates may be poor and charges made on ATM transactions.”

As for travellers looking ahead to next year, Lonely Planet has revealed its Best Travel Destinations for 2020. 

The number-one country to visit in 2020, according to Lonely Planet, is Bhutan.

Yet perhaps more exciting is that Lonely Planet named England as the second-best destination to visit next year.



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