The move comes as countries across the globe shut down borders, often with little or no warning.
Secretary of State Dominic Raab assured this was largely to stop Britons becoming stranded, rather than due to the virus itself.
He said:“I should emphasise this decision is being taken based on the domestic measures being introduced into the UK alongside the border and a range of other restrictions which are being taken by countries right around the world.
“The speed and the range of these measures across other countries is unprecedented some of those decisions are being made without notice.
“In some countries or particularly cases where there haven’t yet been any reported cases of COVID-19 local authorities are nonetheless imposing restrictions on movement, and again doing so with little or sometimes no notice whatsoever.
“In light of those circumstances, we want to reduce the risk of leaving vulnerable British travellers or tourists stranded overseas.”
However, there are still those that will need to exchange currency.