Holiday Makers Can Save Pounds by Travelling Further

LONDON, April 4/PRNewswire/ — With the summer season fast approaching, savvy travellers could be making more of their holiday cash by travelling to exotic shores, according to new research from The Royal Bank of Scotland.

It seems holidaymakers who usually favour the Euro Zone, may wish to broaden their horizons and loosen the purse strings this year, without feeling guilty, for a little extra spending on fun in the sun.

Douglas Gowan, Head of Travel Money for the Royal Bank of Scotland, comments:

“Over the last twelve months fluctuations in currency rates means that holiday makers could receive more for their Pound by travelling further afield. While some rates have fallen over the year, many long haul destinations still offer great, or improved, value for money. So, whilst the UK traveller may have less spending power with their Pound in some popular destinations, more distant shores may provide a cost effective change of scenery.”

Globe trotters looking for best value currency against sterling, should head to long-haul destinations such as Jamaica or Hong Kong, which have seen the Pound strengthen against them in the past twelve months.

Currency % Change Banknote Banknote
2004 to 2005 Sell Rate Sell Rate
Mar 2004 Mar 2005

– Mauritius Rupee + 12.28% 44.65 50.90

– Indonesian Rupiah + 11.8% 14,414 16,350

– Jamaican Dollar + 3.99% 105.09 109.45

– Hong Kong Dollar + 3.64% 13.89 14.41

– Trinidad & Tabago + 3.59% 10.49 10.88
Dollar

From 4 April 2005, Russian Roubles will be available to order through all branches of The Royal Bank of Scotland. The approximate exchange rate stands at 52 Roubles to the Pound Sterling (March 2005). This is the first time that Roubles will be widely available to the public.

The Euro offers less value for money for travellers (- 2.97%), compared with the same time last year. The four year down trend of the US Dollar has continued, providing consistently increasing value for visitors to the US.

Currency % Change Banknote Banknote
2004 to 2005 Sell Rate Sell Rate
Mar 2004 Mar 2005

– US Dollar + 3.10% 1.78 1.84

– Euro – 2.97% 1.43 1.38

However, Sterling has been out-performed by many currencies hence the purchasing value of the Pound is not as great as it was twelve months ago, most notably the popular East European destinations of Czech Republic, Hungary and Poland. The Pound is also down against our Western European and Scandinavian neighbours.

Always check with your travel money provider for any import or export restrictions for both local and foreign currencies before travelling.

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