The Pound has been falling at an alarming rate, following Friday’s weak GDP revision (showing last year’s economic contraction was even bigger than expected) and new worries about Quantitative Easing.
On Thursday, the Bank of England announced no change to interest rates. In virtually all currencies, sending money overseas is becoming rapidly more expensive due to falling exchange rates. Remember that it is possible to secure your exchange rate up to 2 years ahead to avoid exchange rate risk
Exchange rate fluctuations in Tenerife caused by the falling pound
