Brits enjoy bonanza as £ rises against global currencies

TRAVEL money company Centtrip says that during the past two years, holiday costs have plummeted due to sterling increasing in value against 14 other currencies, with values rising between 2.2% and 107%.

Centtrip’s analysis reveals that two years ago the average British holidaymaker spent £628.51 while on holiday. Depending on where they go today, they could spend half this amount and still have the same spending power.

When comparing exchange rates on March 3 in 2015 and 2013, sterling has seen a 107.3% increase against the Russian rouble. When compared against the Norwegian krona, it is worth 36.9% more, and the corresponding figures for the Australian dollar, South African rand and US dollar are 33.5%, 32.0% and 2.2% respectively.

Brian Jamieson, Co-Founder and Managing Director, Centtrip said: ‘We are seeing unprecedented levels of strength in sterling and as it continues to grow, the power of our spending money while holidaying abroad increases. Many of our customers are locking in current attractive rates and buying euros to use today or at a later date. There has not been a better time for Brits to travel abroad, but we would urge travellers who want to take advantage of their increased spending power to check the spread rates when buying foreign currency.’

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