TOURISTS who buy foreign currency at airports are getting less than a euro per Pound as sterling continues to plunge.
Travellers are being offered as little as 97 cents for £1 as the exchange rate has fallen below parity at major transport hubs.
On the money markets yesterday, sterling was 0.5 per cent down on the euro, with £1 buying about 1.09 euros.
It was also 0.5 per cent down against the US dollar, with £1 buying about $1.216. It compounded heavy falls on Monday, as markets reacted to the new Government’s stance on a No Deal Brexit.
Sterling is now on track for its worst month since October 2016, having fallen more than four per cent since June.
Nigel Green, founder of financial advisory firm deVere Group, said the falling Pound would affect holidaymakers wherever they headed.
He added: “Overall, the Pound is the worst-performing major currency in the last three months, meaning almost every destination is now more expensive than it was.
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“Even destinations such as Dubai and China are more expensive as their currencies are pegged to the US dollar.”
A falling Pound affects everyone, making it more expensive for retailers and manufacturers to import food and goods.
But, on the plus side, it can increase tourism to the UK, as visitors from overseas look to take advantage of more generous exchange rates.
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