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Currency boost for winter sun holidaymakers

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Via Yahoo Finance

UK tourists embarking on a winter sun break will find their travel money stretch up to 11% further compared with December 2018, according to new research.

Sterling has risen in value against local currencies in 10 out of 12 popular destinations for those escaping to sunnier climes, Post Office Travel Money said.

Mauritius and Jamaica top the ranking for the biggest year-on-year currency boosts.

The pound is 11% stronger versus the Mauritius rupee, meaning UK visitors heading to the beach resort of Grand Baie are getting an extra £59 of local currency for every £500 they change.

Jamaica-bound tourists are benefiting from an 8.4% increase in the value of sterling.

The Eastern Mediterranean and the Canary Islands were identified as the best regions to find a bargain break when taking into account currency movements, resort costs and the price of air fares and accommodation.

Cyprus was the lowest-priced of the winter sun favourites analysed.

Sterling has risen by 6.6% year-on-year against the euro, meaning a seven-night holiday in Paphos with flights, three star B&B accommodation, drinks and evening meals was calculated to cost £482 per person.

Tenerife was second cheapest at £538, with Lanzarote only marginally more expensive at £553.

The US dollar is worth 6.3% less against the pound year-on-year, leading to Orlando being the cheapest long-haul destination analysed with a seven-night trip costing £868 per person.

Two destinations whose currencies have grown in value against sterling compared with December 2018 are Thailand (up 4.1%) and Mexico (up 1.3%).

Head of Post Office Travel Money Nick Boden said: “Sterling is now much stronger than in the summer and that spells good news for holidaymakers.

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“Compared with a year ago, UK tourists visiting almost every country worldwide can expect to get more foreign cash for their pounds and in Europe this currently equates to £31 extra for every £500 changed into euros.

“However, our latest research makes it clear that there are big price variations between long and short haul holiday destinations so it is a good idea to do some homework before booking to check for the best value packages and the lowest resort costs.”

– This is how the value of sterling has changed year-on-year against 12 popular winter sun destinations, according to Post Office Travel Money:

1. Mauritius (Mauritius rupee): +11.0%
2. Jamaica (Jamaican dollar): +8.4%
3. Cyprus (euro): +6.6%
4. Lanzarote (euro): +6.6%
5. Tenerife (euro): +6.6%
6. Sri Lanka (Sri Lankan rupee): +4.8%
7. Dubai (UAE dirham): +4.5%
8. USA (US dollar): +4.1%
9. St Lucia (Eastern Caribbean dollar): +3.5%
10. Bali (Indonesian rupiah): +0.2%
11. Mexico (Mexican peso): -1.3%
12. Thailand (Thai baht): -4.1%

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