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Currency exchange rate woe for UK holidaymakers
Originally posted by 5corpio
At this time of year, many people are thinking of stretching out on a sunny beach on holiday.
But for UK holidaymakers, a beer in France can cost them more than £5. According to pintprice.com, France finds itself at number nine in a top 10 of 208 countries around the world for the most expensive café beer. Exchange rates can have a huge impact on people's holiday costs and decisions.
Budgeting
The weak pound may continue to be good news for exporters, but it is not so good for those planning a trip overseas. With the UK seen as being in much the same economic boat as mainland Europe and the United States, currency specialists expect little change for travellers when it comes to buying the euro or the dollar to travel to mainland Europe or across the Atlantic.
Sterling has traded in what currency experts like to call a "tight range" for a couple of years. Gone are the days when UK travellers got 1.5 euro for £1. Taking exchange fees and costs into account, few will get much more than a single euro for every pound in their pocket - no wonder that beer is so expensive.
As long as the Bank of England leaves the bank rate at 0.5%, the financial returns from holding sterling remain so poor that nobody in the markets wants to sit on it for very....Read more HEREon this story
But for UK holidaymakers, a beer in France can cost them more than £5. According to pintprice.com, France finds itself at number nine in a top 10 of 208 countries around the world for the most expensive café beer. Exchange rates can have a huge impact on people's holiday costs and decisions.
Budgeting
The weak pound may continue to be good news for exporters, but it is not so good for those planning a trip overseas. With the UK seen as being in much the same economic boat as mainland Europe and the United States, currency specialists expect little change for travellers when it comes to buying the euro or the dollar to travel to mainland Europe or across the Atlantic.
Sterling has traded in what currency experts like to call a "tight range" for a couple of years. Gone are the days when UK travellers got 1.5 euro for £1. Taking exchange fees and costs into account, few will get much more than a single euro for every pound in their pocket - no wonder that beer is so expensive.
As long as the Bank of England leaves the bank rate at 0.5%, the financial returns from holding sterling remain so poor that nobody in the markets wants to sit on it for very....Read more HEREon this story