The pound dropped to a record low on Monday. It looks set to stay weak for a while after the new UK Chancellor’s mini-budget shook investors last week.
That’s bad news for Brits in a range of positions – from homeowners paying off mortgages, to those already struggling with spiralling energy costs (most of us). But what does it mean for travellers wanting to spend their hard-earned sterling abroad?
Put simply, the fallen value of the pound means your money won’t stretch as far as before on things like meals out and accommodation.
Brits holidaying in America will be particularly affected. The pound slumped to a 37-year low $1.0327 against the dollar
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