FAMILIES face the most expensive summer holidays abroad for decades due to the falling pound.
Last night it was worth 1.11 euros or 1.24 US dollars on the money markets.
The pound has not been lower against the euro in any mid-summer since the launch of the single currency in 1999. And it is worth less against the dollar than in any late July for the first time in 50 years.
Fears over a No Deal exit from the European Union for Britain are fuelling the decline.
James Daley, from the consumer group Fairer Finance, told the Daily Mail: “It really hurts when you go abroad and holidays are so much more expensive.
"The fall in the pound has been one of the very tangible consequences of Brexit.
"British holidaymakers have suffered from the uncertainty it caused for over three years now and there’s no prospect of it getting any better very quickly.”
Brits will get worse rates at many bureaux de change, especially at airports.
Some are offering just 0.8 euros per pound — meaning £500 buys just 400 euros.
Four years ago, £500 would buy nearer 700 euros.
Source: Read Full Article