Wednesday, February 25, 2009

ICE Currency advice.

I saw this today - interesting stuff. The Canadian dollar has not changed that much - probably because the price of oil is now so low that extracting oil from the sands is not so profitable.

Leading international currency expert, ICE (International Currency Exchange), has named Russia, Mexico and Brazil as its top spots for alternative holidays where UK travellers can get the most value for their Sterling compared to the previous six months.

With the strength of the US Dollar and Euro against the Pound, it is now the time to consider alternative holiday destinations. As the Pound has recently fallen an amazing 30% against the Dollar and a huge 12.5% against the Euro, ICE has looked at the value of Sterling across many currencies, comparing the exchange rate on 17th August 2008 to the current rate, in search of good news or, better still, a bargain.

Top 3 alternative destinations for Family Breaks

  1. Mexico - Exchange rate today 20.88 / rate 6 months ago 18.99
  2. Norway - Exchange rate today 9.96 / rate 6 months ago 10.10
  3. Canada - Exchange rate today 1.80 / rate 6 months ago 2.00

Andrew Hamilton, Head of Marketing at ICE, says: "Our research has shown that while Europe and North America are getting lot more expensive for UK travellers, there are some great alternative destinations well worth checking out this year to make the most of our stretched holiday budgets."

Family breaks in Mexico offer great value. The value of the Mexican Peso to the Pound has weakened by 9.1% in the last 6 months. With bustling cities, beautiful beaches, deserts, swamps and 26 world heritage sites, Mexico can offer something for the whole family.

Alternatively in Norway, Sterling has weakened against the Krona by only 1% since August 08. With return flights from the UK starting from £40 and the costs of transport, groceries, accommodation and admissions similar to the UK, equivalent travelling throughout beautiful Norway can be done on a budget.

Then for outdoors, adventure, theme parks, camping, shopping, golf, mountains, skiing, festivals, culture and history; Canada has it all for the family. While Sterling has fallen about 11% against the Looney (as the Canadian Dollar is known), it's not as spectacular as the fall against the US Dollar.

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