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Holidays 2019: Brexit latest – exchange pounds for euros TODAY experts urge | Travel News | Travel

The pound to euro exchange rate is something many holidaymakers only think of on the day they buy their travel money. However, experts are advising Britons to track exchange rates ahead of their holidays as Brexit is making the pound very volatile. MPs are set to vote on Theresa May’s Brexit deal tomorrow, meaning the political landscape of the UK could look very different in the coming days. With less than three months until the UK is set to officially leave the EU, a lot of uncertainty lies ahead – one of the biggest causes of volatility for currency, cautions travel money expert FairFX.

By planning ahead and tracking exchange rates holidaymakers can make their travel budget go further.

You should look to buy when the rates are at their strongest, advises FairFX.

Over the last twelve months, the pound fluctuated 13 per cent against the US Dollar between the peak of 17 April and low of 11 December – a difference of £148 for every £1,000 exchanged.

Against the euro, the pound fluctuated four per cent between the peaks and troughs of 2018.

Today, the pound is down two per cent against the euro compared to January last year, and down 15 per cent against the euro compared to the day of the Brexit referendum in June 2016.

Sterling is currently trading at €1.120 against the euro, according to Bloomberg.

Laura Parsons, currency analyst at TorFX, spoke to Express.co.uk regarding the latest exchange rate figures. “With UK data lacking at the start of the week, all eyes are on tomorrow’s parliamentary vote on Brexit,” she said.

“If PM Theresa May’s deal is voted down the pound could tumble on fears that Labour could set the wheels of a general election in progress.”

It’s worth heading to countries where the pound will stretch the furthest. For instance, Turkey has once again increased in popularity with British holidaymakers thanks to the crash the Turkish lira in 2018. 

Tourism was blighted by a series of terrorist attacks in 2016 but the country is now once again finding favour with Britons as a cheap holiday destination, a new report shows.

The annual Post Office Holiday Money Report revealed the renewed popularity of Turkey is the most striking travel trend of the year.

“The lira fell steadily during the early months of 2018 but plummeted in value by 73 per cent in August, causing a stampede for late summer package deals,” explained the Post Office report.

“Post Office lira sales surged 368 per cent compared with August 2017, leading to an overall 2018 sale rise of 96 per cent.

As a result, the Turkish lira moved five places up the top 20 table [of Post Office best selling currencies in 2018] to fourth position.

The ongoing weakness of the Turkish lira means holidaymakers can expect their pounds to stretch almost 29 per cent further in Turkey than a year ago.

Holidaymakers heading to Argentina could save up to £474 buying currency today compared to this time last year, thanks to a 90 per cent improvement.

Other countries where the pound will of further include Russia, Zambia, Sri Lanka, South Africa, Brazil, Chile, Iceland and Australia, revealed FairFX.

Ian Strafford-Taylor, CEO of FairFX said: “Currency should be a big deciding factor behind holiday planning. By choosing a destination where the pound is performing well, the cost of accommodation, shopping and dining out will decrease, allowing you to see more of the world, for much less.”

“With less than three months until the UK is set to officially leave the EU a lot of uncertainty lies ahead. It’s likely there will be more turbulence for the pound against the Euro, which could impact Brits planning traditional eurozone holidays for 2019”.

“As well as tracking the pound, avoiding travel money traps such as buying currency at the airports and being hit with credit and debit card fees will also have a positive impact on your holiday budget.”

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