Destinations in the Far East have proved a big hit with British holidaymakers over the summer, prompting a surge in demand for currencies like Thai baht and the Vietnamese dong.
While four of the ten fastest growing currency sales at Post Office Travel Money bureaux over the summer were for Far Eastern nations, New Zealand took the top spot, with NZ dollar sales up 124 per cent on a year ago.
With the pound faltering against the euro in recent weeks, autumn and winter holidaymakers looking to see their pound stretch further could still bag themselves a good deal by heading further afield in the coming months.
In demand: Destinations in the Far East have proved a big hit with holidaymakers over the summer, prompting a surge in demand for currencies like Thai baht
Year-on-year, sales of Thai baht increased by 69 per cent over the summer, Post Office Money said. For every £1, holidaymakers can get just shy of 43 baht at present.
Sales of the Vietnamese dong surged 29 per cent over the peak period and rose 28 per cent in the year to date, while the Indonesian rupiah made summer gains of 13 per cent.
Demand for the Malaysian ringgit rose seven per cent during the summer and 18 per cent between January and August.
Fuelled by demand during the Lions summer rugby tour, New Zealand dollar sales rose 124 per cent year-on-year between June and August.
Andrew Brown of Post Office Travel Money, said: ‘While the exodus of sports fans to destinations staging big tournaments is now well established, the devotion shown by rugby enthusiasts for the Lions summer tour of New Zealand has been impressive.
‘In June we saw a 266 per cent rise in New Zealand dollar sales, indicating that significant numbers of rugby fans were following the team down under. Interestingly, sales have remained very healthy over the past month, suggesting New Zealand will be popular with UK visitors this winter.
‘Looking forward to the autumn and winter, there is every reason to expect that UK tourists will head east for long haul holidays if our summer currency sales are anything to go by.
‘Savvy travellers know that prices in Thailand, Bali, Vietnam and Penang are cheap and in times when the value of sterling is uncertain, low resort costs are proving a big draw.’
Surging: Year-on-year, sales of Thai baht increased by 69 per cent over the summer, Post Office Money said
Canada also fared well in the currency sales market stakes over the summer, as did Dubai.
Closer to home, sales of Croatian kuna increased over the summer and have doubled in the last five years.
Towards the end of last month, sterling fell to its lowest level against the euro for eight years, amid ongoing talks and uncertainty over Brexit negotiations.
Having fallen to around the €1.08 mark a few weeks, ago, the pound is currently up 0.52 per cent to €1.0906 against the euro, while against the US dollar it is up 0.13 per cent to $1.2943.