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A weak pound makes vacation hotspots more expensive


A weak pound makes vacation hotspots more expensive, as the British are now getting 42 pounds less for every 500 pounds they exchange for euros than before the closure

  • Britain's fight against the corona virus and uncertainty about Brexit have weakened the pound
  • The value of the pound peaked in February amid snowball confidence
  • In the coronavirus pandemic, the pound fell more than 11 percent

Vacationers who travel to Europe's top travel destinations have less money than before the closure.

The British are now getting £ 42 less for every £ 500 they exchange for euros this summer compared to February.

The price of basic foodstuffs such as beer and coffee has also risen for the British.

Experts have attributed the pound's decline against the euro to the UK's fight against the coronavirus and uncertainty over the Brexit negotiations.

The British are now getting £ 42 less for every £ 500 they exchange for euros this summer compared to February, making Europe's top travel destinations more expensive for British holidaymakers

The value of the pound peaked in February in view of snowball confidence following the Conservative election victory last year.

However, markets collapsed in the pandemic and the pound fell more than 11 percent.

In mid-February, before the ban, 1 pound was worth 1.18 euros.

However, this fell to 1.04 when social distancing rules were introduced before they stabilized at 1.08.

Moneycorp currency firm Lee McDarby said: & # 39; The fluctuation in the value of the pound against the euro can be attributed to a number of factors, including country adjustment to closures and restrictions, and political factors such as Brexit negotiations. & # 39;

The pound was also down 6.5 percent against the Croatian kuna and 7.8 percent against the Bulgarian lev.

This equates to almost £ 35 less spending for British tourists in Croatia and £ 43 for them in Bulgaria based on a converted £ 500.

In contrast, families in Turkey could get more for their money after the pound rose 4.5 percent against the lira.

This would give British tourists an additional £ 21 for every £ 500 they exchange.

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