Easter Flash Report
24 Mar 2014
Brits heading away for Easter will be getting good value for their Pounds on the majority of currencies compared to last year, according to the foreign exchange specialists Travelex.
Last week proved bumpy for the Pound with the UK Budget announcement and the release of key data. Whilst employment and labour market data proved promising, the Pound is currently slightly down against the US Dollar and Euro versus last week.
With Europe heating up, Brits don't need to travel far to get sunshine in the South of France, Spain or Italy. With the Pound up marginally against the Euro, Brits exchanging £500 can pocket an extra €18 compared to summer. Families planning a holiday to the U.S. this Easter will find their budgets stretch further, with the Pound up nine per cent against the US Dollar compared to this time last year. This difference means an extra $64 on every £500 exchanged, which would cover the cost of a selection of main courses at Planet Hollywood Restaurant in Orlando, Florida.
Friends and couples looking for warm weather and good food should consider South Africa, where the Pound has increased significantly against the Rand. Compared to eleven months ago, the Pound is up 28%, providing an extra 1,857ZAR (£108) for every £500 exchanged. Offering even more value for money is Thailand, where the Pound is up 20% against Baht compared to this time last year. On exchanging £500, the extra 4,214THB would pay for a diving experience or several days' meals.
Brits looking to make the most of their budgets can easily keep a close eye on exchange rates by using the Travelex Rate Tracker. It sends alerts when the user's chosen currency hits a low against the Pound, allowing them to cash in when the rate provides an advantage.
Travelex is the world's largest foreign exchange specialist with almost 1,400 stores and 1,200 ATMs across 26 countries, at key airport, seaport, rail and tourist locations. Over 40% of travellers - 1.7 billion passengers a year - pass through airports where Travelex operates including the major gateways at Amsterdam, Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, Paris, Sydney & Tokyo. Every hour, Travelex provides foreign currency to more than 2,000 customers.