Holidays in Europe are no longer the cheap option for British families as the pound continues its nosedive against the Euro.
As markets closed yesterday the pound had dropped to a record low against the euro. The euro is now worth more than 80p – the worst exchange rate for Britons in the single-currency's nine-year history.
The pound has fallen a fifth against the euro in just six months which means families travelling to Europe will now get far less for their money than they would have done a year ago. Last November, the euro was worth 69p, meaning £100 would buy €145. At today's rates it will fetch only €125.
Despite the rising cost of the euro, families are continuing to head abroad with the Post Office reporting euro sales up 29% over Easter.
But experts say that we haven't seen the worst of it. They're predicting further falls and say the prospect of lower interest rates will only weaken Sterling further.
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