EU referendum: How the tumbling pound affects British tourists
Admission to the Louvre today costs more than £12 – the highest price in history in sterling terms – at the rate of exchange offered by your post office. Against the euro, £1 buys 11 per cent less than it did just three months ago, effectively adding a tenth to prices in the euro area.
Six months ago, the pound looked fairly robust against the dollar, with a value of almost $1.60; yesterday, sterling sank below $1.40, its lowest level for seven years. While the basic New York subway fare has remained at $2.75 since last summer, the cost for British tourists has risen by 24p to almost £2.
Market uncertainty over the EU referendum has seen sterling slide. That spells financial embarrassment for UK passport holders.
It gets worse: the currencies in many destinations, from Dub...