Pound Regains Value Against the Euro And Other Currencies
Pound Regains Value Against the Euro And Other Currencies
Published : 30-Nov-2016 02:59
In further good news for skiers planning to hit the slopes this season after all the November snowfall, a travel money specialist has reported that the Pound has regained some of the value it lost against other currencies following the Brexit vote.
FairFX, a business which is a, "prepaid currency card, travel money and international payment services provider" says that over the past six weeks the pound has risen 7% in value against the Euro, taking it from 1.10 to 1.17 Euros to the pound.
Against other European currencies the pound is up as much as 10%, FairFX say, and even against the Dollar where the pounds fall has been the moist marked, it is up 2%.
The news on European currencies is particularly welcome and good timing for those who feared a big hike in in-resort purchases such as lift passes and apres ski costs because of the weak pound.
Comparing exchange rates this week compared to mid-October, FairFX reveals that the pound goes 10% further in Poland, 7% further in Sweden, Bulgaria and Norway as well as in euro-countries and 5% further in Switzerland.
Alongside the currency analysis, FairFX has published its annual ski report comparing the costs of visiting 59 worldwide snow resorts; collating the total spend on lift passes, equipment hire and tuition for one week. The research revealed that Bled in Slovenia is the cheapest ski destination for 2016 with a week's ski package coming in at £261. In second is Vemdalen in Sweden at £278, followed by Italy's Passo Tonale in third at £279 and Slovenia's Bohinj in fourth at £280. Austria's Skiwelt and Bulgaria's Pamporovo also feature at the top of the best value rankings with a week's ski costs under £400.
At the other end of the spectrum, poor exchange rates against the US dollar have impacted upon American snow resorts which take up the top three most expensive resorts to ski this season. Vail takes the number one spot as most expensive at £1,493 – nearly six times higher than Europe's cheapest resort. The dozen most expensive resorts also include Canada's Whistler at £985 and Zermatt in Switzerland at £931.
Ian Strafford-Taylor, CEO of www.fairfx.com, said: "The pound has been hit with volatility in the months following Brexit and reached new historic lows in October. Finally, consumers have seen a rebound in the pound with positivity against almost every currency globally – giving a boost to anyone currently planning a ski holiday this winter."
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