What does the plunging pound mean for Britons?

October 7, 2016 | 6years | NEWS AND INTEREST

From skiing holidays to airport bureaux de change and pensioners abroad, the fall in sterling is having a major impact


The pound is worth less than €1 at airport bureaux de change, hitting holidaymakers hard, sending the cost of a skiing break into the stratosphere and shrinking pension incomes for expats in Spain, but making Britain a bargain basement destination for tourists.
 
Bureaux de change

At Southend airport on Friday morning, Moneycorp was offering holidaymakers €0.97 for each £1, while at Heathrow and Birmingham airport, the best on offer was just a smidgen over parity with the euro, at €1.004. In November 2015, the peak market rate for sterling was €1.425 to the pound; although holidaymakers would not have enjoyed such a rate, spending abroad is now costing Britons 15-20% more than before the Brexit vote.


To continue reading this article follow the link: theguardian.com
 
You are now departing from the regulatory site of Financial Services Scotland Limited. Neither Financial Services Scotland Limited or Personal Touch Financial Services Limited is responsible for the accuracy of the information contained within the linked site.