The annual travel currency report from the Post Office® is a great indicator of holiday hotspots across the world, and there are a few surprises on the list!
The survey reveals the fastest growing currencies over the summer for a fascinating insight into how and where Brits have travelled over the last few months.
Remaining in the number one spot is the Vietnamese Dong which saw increased sales of 106% year-on-year, proving that the UKs love affair with Vietnam continues at quite a pace! Direct flights between London and Vietnam were introduced last year which has contributed to the growth. There has also been a raft of luxury boutique beach resorts opening along the coast, particularly around the pristine Nha Trang coastline, which has further piqued interest in Vietnam as a travel destination. With the holidays and winter approaching, this is the perfect holiday destination!
In second spot is the Australian dollar, which thanks to the Lions rugby tour, has seen increased interest, with currency sales up 98% year on year. Similarly TV programmes such as ‘Top of the Lake’ and the huge Hobbit and Lord of the Rings movies has catapulted the New Zealand dollar into the number three spot.
What may come as something of a surprise is that all of the destinations in the top 10 list are long haul locations. This is largely due to the strengthening of the pound sterling against foreign currencies.
There are additional ways to get more value from your exchange rates, no matter where you’re travelling too. Tips include: NEVER exchange money at the airport (the rates are dire) and check your current account benefits as many include fee-free currency exchanges. Our post 100 Easy Ways to Save Money on Travel contains valuable tips and advice.
Top 10 Fastest Growing Currencies
1. Vietnamese dong +106%
2. Australian dollar +98%
3. New Zealand dollar +86%
4. Dominican Republic +76%
5. Russian ruble +75%
6. South African rand +67%
7. UAE dirham +48%
8. Malaysian ringgit +44%
9= Japanese yen +40%
9= Kenyan shilling +40%
Thanks to the Post Office® for all the details.
By Julie Bowman