Currency rates fluctuate all the time depending on many factors, but which are the best currency exchange rate improvements over the last year?
Compare Holiday Money logs the exchange rates for all our listed currencies and we display this information on our exchange rate history pages. These provide valuable data for the actual domestic exchange rate movements rather than the interbank rates.
We had a look through the currencies history to see which of them had gained the most over the last year and essentially making the destination country better value for money. Here are the top ten gainers up to 12 September 2018.
1. Turkish Lira
The Turkish Lira is way ahead of all the others in terms of gains. Political events have meant the lira has lost a good deal of value over the last few months, between 12th August 2017 and 11th September 2018 the Turkish Lira rate increased by a whopping 80.75% from 4.4970 to 8.1285. During this period the highest rate recorded was 8.4534 on 13th August 2018 and the lowest was 4.3440 on 26th August 2017.
This makes holidays in Turkey extremely good value and in August 2018 some forex suppliers were running out of the currency because of high demand. As you can see below the buyback rates have followed a similar pattern, this is the same for all the currencies and in fact you would get a lot more for your leftover lira than you paid for it even a few months ago!
2. Brazilian Real
Yes, another big mover coming in with a rise of almost a third at 29.56%. Lowest rate over the year was in September 2017 at 3.8370 and the best rate 5.2269 this September 2018.
Again, the reasons for this are a depreciation in value of the currency against other major world currencies. How long will it continue nobody can predict but Brazil is a cheaper place for us to visit this year than last because you get more BRL’s for your GBP!
3. Russian Ruble
Weighing in at a not quite as impressive, but still good 17.20% is the Russian Ruble. Losing value fuelled by the impact of US Sanctions (like the Turkish lira) falling oil prices and a stronger US Dollar. This has sparked much discussion around the world.
The next currency on the list at No 4 is the Indian Rupee. This currency has been troubled in the past but losing value recently, again thanks partly to the strength of the US dollar. There is good and bad for countries when their currency loses value as this article explains. The exchange rate of the INR has increased by14.58% over the last year so more rupees to the pound if you are travelling to india.
The next five are as follows:
5. Swedish krona up by 13.12%
6. South African rand up 12.73%
7. Indonesian rupiah up 12.50%
8. Aussie dollars up by 11.49%
9. Sri Lankan rupees up 11.27% and the last of our currencies to increase by more than 10% in the last year.
Holding position at No 10, apart from the Prime minister of course, is the humble Hungarian forint which saw an increase of 8.82%.
It is worth keeping an eye on exchange rates because better rates mean cheaper holidays and you can see all movements up to the previous day on our exchange rate history pages. What nobody can predict is how each currency will move in the future.
Lastly, what about the euro? I hear you ask. The UK’s top selling currency by a long way has had a turbulent year driven by economic factors and yes, the strength of the US dollar. At the time of writing it has increased slightly by 2.27% over the year.During this period as the graph suggests, the highest rate recorded was 1.1475 on 16th April 2018 and the lowest was 1.0641 on 29th August 2017. Today’s best Euro rate is currently 1.1105.