By Rachel Fletcher
Holidaymakers will have to accept costlier trips this year as the pound has lost value.
This is according to Sainsbury's Finance Travel Money, which has carried out research into the matter.
Sainsbury's looked at 11 currencies and found that the only currency the pound has increased against is the Turkish lira.
It said that since last year, the pound has seen a 17.74 per cent decline against the US dollar.
According to its figures, £300 bought $589.05 a year ago, but the exchange rate has now fallen to $484.56.
There has also been a 15.54 per cent fall in the pound's strength against the South African rand, a decline of 14.99 per cent against the Thai bhat and a 14 per cent drop with the Egyptian pound.
Young travellers on their gap years were recently warned in the Independent that their short credit records may mean they cannot get the advertised APR on a credit card, or indeed get a card at all.
Instead they could become authorised users for a parent's card or use prepaid cards.
