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30 October 2017 08:40
Long haul holidays can work out cheaper than European breaks
Long haul holidays could work out cheaper than European breaks, with improved currency rates offering holidaymakers significant savings.
New analysis from foreign exchange firm FairFX found that the pound is strong against several far-flung currencies, including Argentina, Japan and the Seychelles.
The Top 12
Figures show that none of the top 12 currencies which sterling comes out on top of are in Europe, or countries closer to home.
The pound is strongest against the Argentine peso, showing growth of 23% compared with October 2016.
Sterling has also made 15% gains against the Japanese yen and the Seychellois rupee.
The Sri Lankan rupee and Indonesian Rupiah are also under-performing against the pound, as the British currency takes the lead by 11% against both.
Other holiday destinations where it could be worth cashing in on sterling's strength, include Malaysia (up 9%), New Zealand (up 8%) and Jamaica (up 7%).
FairFX chief executive Ian Strafford-Taylor, said: "Holidaymakers shouldn't forget there has never been a better time to consider more far flung climes as there are many countries around the world where the pound has improved considerably."
Euro volatility
Meanwhile, the value of the pound against the euro continues to ferociously fluctuate and August saw sterling's worst performance ever against the European currency, at just €1.08 to the pound.
"It's been a rollercoaster 12 months to say the least, with rates continuing to ping pong as the markets react to events such as the US election and ongoing Brexit negotiations," continued Mr Strafford-Taylor.
"It has now never been more important for consumers to be aware of these fluctuations and the reasons behind them so that they can get the most out of every penny they exchange."
The currency expert says savvy travellers are keeping ahead of the currency game, and topping up their currency cards when they see the rate of sterling improving, rather than buying currency at airports or in a last-minute dash.
Planning on a long-haul trip? Get added peace of mind for your holiday by taking out worldwide travel insurance.
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