UK currency experts warning of less money for UK pound when you travel abroad this summer.
If you are buying your holiday money this summer you can expect to get less than last year.
UK consumers have been getting less bang for their pound over recent years. This summer could be one of the worst exchange rates in many a year. This is going to make your summer holiday abroad more expensive.
The fall in the value of the UK pound has been laid at the door of increasing risk that the UK will leave the European Union EU without a withdrawal. The value of the pound is unlikely to increase until Brexit uncertainty is removed.
Some currency experts suggest the UK pound value could fall further if the UK leaves the EU without a deal at the end of October 2019.
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Pre load cards with local currency for spending overseas
Use credit cards that are more friendly to overseas spending in terms of fees and exchange rate.
Make sure your cash does not exceed protection provided by holiday insurance cover.
If using ATMs use sparingly and take out larger amounts than you may do in UK as fees can be punituve.
Always pay abroad in local currency to avoid exchange rate rip off buy retailers.
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