Currency collapses a blow for exchange rate in UK

Published on 18/03/2013 00:00

CURRENCY collapses will mean a catastrophic cut in spending money for families heading abroad for the Easter holidays.

With Easter only days away, Britons are getting far fewer euros and dollars to the pound than even a few weeks ago.

The pound has fallen against most European currencies, according to latest figures from Post Office Travel Money.

British travellers might have to go far afield to find favourable exchange rates, with the best bets being South Africa, Argentina and Japan.

Comparing mid-March this year with mid-March 2012, the pound has lost 5.4 per cent against the euro and 5.5 per cent against the US dollar.

Among countries where the pound has also fallen against the local currency are Sweden, Norway, Turkey, Bulgaria and Poland.