Since the referendum result the pound is down against the two crucial currencies, the euro and the US dollar by about the 12 to 15 per cent that had been predicted by the Treasury.
Some financial forecasters such as HSBC and UBS are suggesting the pound could fall back to parity – one euro to one pound, about one-sixth worse than today. That’s because they fear foreign investment in the UK will drop.
When you are comparing rates, simply ask: “How much, in sterling, will it cost me to buy €500?” (Or however much you want to change). If you can find somewhere that will sell at, say, £435, you are probably doing well.
Panel of experts says: ‘Sterling is going to be as soggy as the British weather, and until the EU referendum is out of the way, the uncertainty is going to get worse.
The pound could even fall another 20 per cent if Britain votes to leave, taking the pound to around $1.11 — its weakest level since 1985 — while experts at UBS have suggested it could eventually fall to parity with the euro.
Exchange rates are going to fluctuate over the next few months and trying to predict them is just guesswork.
You never know which way currency is going to go, but if you have a holiday booked I would get at least half of your currency now.