Sterling rally overhyped: HotelsCombined

Following Andrea Leadsom’s resignation from the Conservative leadership race, UK holidaymakers may well have welcomed reports of a 1% rise in the value of the Pound.

However, global hotel comparison site, HotelsCombined.co.uk is warning tourists that all is not what it seems as the Pound has actually stayed the same or even fallen against some currencies.

For those seeking an affordable break and worried about shifting accommodation prices, HotelsCombined reassures there are still ways to secure low prices. “Selecting destinations which are least likely to see fluctuations and offer a favourable rate against the Pound is the best way to secure an affordable holiday,” said country manager for UK & Ireland, Dimitri Konovalovas.

‘’It’s positive to see the Pound strengthen after some of the post-Brexit uncertainty lifted and Theresa May was confirmed as the next Prime Minister. However, we urge tourists not to be lulled into a false sense of security as this news has made marginal differences to exchange rates, and the Pound has fallen against some currencies. Both the Mexican Peso and South African Rand see the Pound suffer a 0.3% decrease, so it’s important to check in-resort currency rates before booking a break.”

Currency fluctuations at 11 July 2016 rate versus 8 July 2016 via Yahoo currency converter:

 

Currency Currency rates 8 July pre Andrea Leadsom step-down Currency rates after Andrea Leadsom announced leaving the race
Norwegian Krona 10.97 11.03
Mexican Peso 24.29 23.99
South African Rand 19.07 18.75
Euro 1.16 1.17
US Dollar 1.29 1.29

 

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