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Currency sales skyrocket due to travel to US and winter

Foreign currency sales illustrate the high level of pent-up demand among UK holidaymakers to visit the United States and the winter sunspots.

Post Office Travel Money said demand for U.S. dollars more than doubled in September and October compared to the same months in 2020.

The United States is finally reopening its borders on Monday to travelers fully vaccinated against the coronavirus from the United Kingdom and a selection of other countries.

This marks the end of a ban on foreign visitors introduced in early 2020 due to the pandemic.



The strength of the pound is a real plus

Nick Boden, Post Office Travel Money

The Barbadian dollar, the United Arab Emirates dirham and the Mexican peso are among the other currencies for which sales have skyrocketed in recent weeks.

Nick Boden, Travel Money Manager at the Post Office, said: “Looking at our currency sales, the green shoots of the recovery are now evident for most destinations which are reopening to UK visitors and reveal a latent demand for hot spots in Europe. and further.

“While the euro remains by far our biggest seller, there is no doubt that attention is shifting to more distant hot spots, as currency sales for Dubai and the Caribbean Islands are among the most popular choices. popular for our customers. “

Post Office Travel Money said the pound had made “significant year-over-year gains” against the most popular holiday currencies, increasing the purchasing power of British tourists.

They include the Turkish lira (up 21%), the Mauritian rupee (up 14%) and the Thai baht (up 13%).

Mr Boden said: “The strength of the pound is a real bonus, but it is also important to consider the cost of living in each country.

“When you combine the two, Jamaica and Mauritius look like winners in the winter sun according to our Resort Cost Barometer.

“Food and drink prices are 79% higher in Barbados than in Jamaica.

Likewise, when you compare costs in the most popular US destinations, visitors to Orlando, Florida will pay about a third less than in New York.


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