6 holiday destinations where your pound will go the furthest
Although Spring is coming, you wouldn’t think it with all this cold and wet weather we are having here in the UK.
No doubt you’re starting to plan your holidays for the year to escape for a week or two. Maybe you’re after a long weekend to soak up some sunshine? Whatever your reason for ‘getting away’, we have put together this blog to help you choose your holiday destinations wisely.
Here are 6 holiday destinations where your pound will go the furthest.
- Turkish Lira (TRY spot rate 7.90 as of 18/02/2020) … (aside from crash in strength of Lira Oct 2018, rate is highest it has been as far as records show since 2012)
- Hungarian Forint (HUF spot rate 403.97 as of 18/02) … (Highest it has been since end of May 2016)
- Euro (EUR spot rate 1.21 as of 18/02) …. (Although this looks like you are not getting a lot of ‘bang for your buck’, this is the highest it has been since April 2017)
- Australian Dollar (AUD spot rate 1.95 as of 18/02) … (highest it has been since June 2016)
- Jamaican Dollars (JMD spot rate 180.92 as of 18/02) …. (Highest it has been since June 2016)
- Sri Lankan Rupee (LKR spot rate 236.37 as of 18/02) …. (highest it has been as far as records show up to 2012) – Restricted currency. Each traveller can only take 5,000 LKR cash which is roughly £25 at the current rate. However, it tends to be possible to purchase from the airport when you land.
TOP TIP 1–Buy currency online beforehand Foreign exchange bureaus tend not to trade at spot rate, but if you want the most for your money and the best rates, always buy your currency online from your foreign exchange bureau beforehand and pick up from the bureau. It saves money AND time.
TOP TIP 2 – Insure your currency If you are unsure how much money you are going to spend or get worried about the thought of running out of cash, ‘Buy Back Guarantees’ are often available from local Foreign Exchange Bureaus. This means paying an extra (£3-£5 usually) to insure a percentage of your cash for a full refund. This gives you the peace of mind to take a little extra on holiday with you, knowing you will get a full refund on it if you don’t spend it all.
TOP TIP 3 – Returning holiday money can mean you lose out When returning your foreign currency for £’s you tend to get less than you paid for it so try to either:
- Spend it
- Save it for next time
- Give/sell it to a family member or a friend who could use that currency for their upcoming holiday.
- Purchase that Buy Back Guarantee
TOP TIP 4 – You don’t always have to use cash. Many foreign exchange bureaus and banks offer cards which tend to work just like debit/credit cards. Have a look at Revolut as an example ( If you are travelling to multiple countries, some of these cards also allow you to load multiple currencies to them. So, our advice to you would be to shop around, check the T’s &C’s and see which card would best suit you. *Disclaimer: These cards aren’t available in all currencies. Check with your local bureau beforehand to see if they are suitable for your holiday destination*.
