Britons jetting off on holiday may be uncertain about how far their money will go after the start of the Brexit transition period. In recent weeks the pound has suffered a series of highs and lows, however, it seems the forecast is bright for sterling.
Meanwhile, holidaymakers jetting off to winter sun destinations South Africa and Mauritius will also benefit from a decent rate.
Visitors to South Africa will benefit from 10 percent more South African rand than a year ago, the equivalent to £47 extra cash when changing £100.
Those changing pounds to Mauritian rupee will benefit from an extra £40.
Closer to home, Turkey is the destination that offers “the most bang for your buck”.
Sterling is worth 19 percent more against the Turkish lira than a year ago, and those switching holiday money now are set for an extra £80 for each £500 exchange.
Though sterling has struggled against the euro in recent months, Spain and Portugal remain vacation favourites according to the most up-to-date Post Office Worldwide Holiday Costs Barometer.
The report suggested that Corfu is the ultimate money-saving destination with the cost of meals and drinks deducing 20 percent in the last 12 months.
However, barometer reported that prices dropped throughout the eurozone.
For those seeking a city break, Budapest could be the perfect location for budget travellers.
Hungary currently boasts an agreeable exchange rate for Britons, with the Hungarian forint 10 percent weaker against sterling since last January.
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This means almost £44 extra cash to spend on a £500 currency exchange.
When it comes to beach holidays, the Post Office highlight both Bulgaria and Croatia.
Sterling currently buys 4.3 percent more Croatian kuna, giving travellers an extra £18 on a £500 exchange.
Meanwhile, the Bulgarian lev offers an extra £16.
Nick Boden, Head of Post Office Travel Money, the UK’s largest provider of foreign currency,
said: “Sterling is now stronger against the vast majority of holiday currencies and that spells great news for holidaymakers. UK tourists can do even better by picking a destination where the cost of living is low so they benefit from both the stronger pound and low prices in resort restaurants and shops.”
Alas, it isn’t all good news for the pound, with some favoured destinations less kind to the pound.
Egypt is one of just eight destinations where the pound has weakened against its home currency.
The UK pound is worth almost 10 percent less against the Egyptian pound compared with last year.
Furthermore, tourists heading to Costa Rica will also get less for their money.
Since the start of the Brexit transition period on Friday, sterling has seen a series of fluctuations.
It hit a 10-day low against the euro before bouncing back.
With political negotiations between the UK and EU governments still ongoing, little is known about the future of the pound.
Mr Boden offered advice to Britons heading on holiday during the transitional time, describing it as “unchartered territory.”
He said: “We advise holidaymakers planning trips abroad in 2020 to keep a close eye on rate movements and
purchase foreign currency when sterling will give them more cash for their pounds.
“Budget realistically to avoid running out of holiday cash and having to use credit or debit cards abroad, which are likely to incur extra fees.
“Instead, consider loading holiday money onto a Post Office Travel Money Card at times when rates are favourable as this prepaid card does not incur transaction fees in shops and restaurants abroad.”