 |
 |
By Helen Storey Staff Writer
Thursday, 28 August 2008
|
UNLESS you’ve been living with your head under a financial rock, it’s almost impossible to ignore the sound of the price of sterling tumbling under your feet.
Last week saw the pound fall dramatically against the dollar to a new 2-year low of $1.84.
Despite constant reports of our economy heading for reverse gear, this hasn’t stopped us stoic Brits from donning our Bermuda shorts and flip-flops and jetting to warmer climes over the summer.
Currency spending rises
The Post Office Travel Service has revealed that travel currency spending has continued to rise over the last 2 months, which goes to show we’d rather replace the cries from the broadsheets of ‘recession!’ with chants of ‘Viva España!’
Whilst the growth of the economy threatens to chuck a tantrum and refuse to budge, not even higher holiday costs and the reduction in cut-price, last-minute deals can seemingly stop us from hurling ourselves through airport check-ins, clutching a fist full of Euros.
It would seem that Olympic fever has hit the isle of Blighty, with M&S Money reporting a 25% increase in the sale of Chinese yuan in the run-up to the Games.
Increased demand for Euros
Demand for the Euro has also increased this year, according to the Post Office, even though 1 Euro is now sitting at 80p, compared to last year which was around 65p.
While you may not get as much cerveza for your money, Britons appear to be feeling that it’s worth flying 600 miles away from home if only to get away from hearing that ghastly phrase: ‘credit crunch’.
If you want some handy hints on how to minimise the effects of the weak pound when you’re on your jollies this year, then read Julia Kukiewicz’s excellent article: Don't Let The Weak Pound Ruin Your Holiday This Year.
|
