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Currency boost for holidaymakers

Currency boost for holidaymakers

Category: Travel

Updated: 28/10/2010
First Published: 28/05/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

People hoping to holiday abroad this summer have received a welcome boost after the value of sterling yesterday surged against both the euro and the dollar.

Having traded above $1.60 yesterday, it meant the pound rose to its highest level in almost seven months against the dollar, 19 per cent above the 23-year low back in January 2009.

Meanwhile, the pound also reached 1.15 euros, a rate approaching this year's high and 13 per cent higher than the all time low witnessed at the end of 2008, when it was 1.02 euros.

As long as the improvements are sustained, Britons travelling abroad will see their money stretch a lot further on foreign shores that many would have dared hope just a few months ago.

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