✈️ The countries where your pound will stretch further – and where to avoid for budget holidays
The pound’s second-biggest year-on-year gain was against the Turkish lira , so £500 will now buy £100.98 more in lira compared with 12 months ago. Sterling’s gain against the Turkish currency is even stronger compared with March 2020, however: up 180.1 per cent, so £500 will buy the equivalent of £321.52 more than it did that month., meanwhile. Sterling has fallen 19 per cent against the Mexican peso year-on-year, with £500 now buying the equivalent of £117.
Both the East Caribbean and Barbados dollar are pegged to the US currency, as such the pound has also fallen by –11.1 per cent against the dollar – meaning holiday money won’t go so far on break in the US. The total cost of eight items in Cape Town was £53.23, while Mombasa in Kenya was in seventh place with the items adding up to £61.30.Both represent a better exchange rate for long-haul holidays than the Costa Rican colon against which the pound has fallen by 22 per cent year-on-year.
Caribbean and Latin American currencies are showing the greatest growth in sales compared to pre-Covid – the East Caribbean dollar saw the highest rise of 137 per cent.
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