The pound has doubled in value against the currencies of holiday destinations including popular hotspot Turkey, since lockdown restrictions first grounded flights and closed borders more than two years ago. in March 2020. R esearchers at travel money specialist No1 Currency compared exchange rates from the start of the nation's first lockdown — and found that the pound is now worth more against four out of five (79 per cent) of the 57 most in-demand currencies.
While runaway inflation making the cost of living - including the cost of UK holiday accommodation - soar at home, a seismic shift in foreign exchange rates has boosted the pound’s purchasing power in several other countries. Sterling's relative strength is greatest in Turkey, an enduring favourite of British sunseekers thanks to its spectacular coastline, great food and warm Mediterranean climate.
The Turkish lira has lost more than half its value against the pound since the eve of the pandemic, making a holiday in that country even more of a bargain than it was before.
