UNITED KINGDOM: Holiday Currency Up, Pound Down To Lowest Since 1985

MANY UK holidaymakers travelling abroad will pay more for foreign currency as the pound plunged to its lowest level since 1985 following the EU referendum.

Sterling was down against every single major currency group.

The pound crashed 10% against the dollar overnight to 1.33 US dollars, a low not seen in 30 years.

This could make the UK a more affordable destination for overseas tourists.

The victory for the Leave campaign is unlikely to have any immediate ramifications for UK tourists passing through immigration controls abroad, or for inbound tourism.

A spokesman for Heathrow Airport said: "Anyone travelling through the airport will find it operating normally with no changes to security and immigration."

Bill Gibbons, director of industry body Discover Ferries, which represents 12 ferry companies, insisted that the vote will not have an impact on summer travel plans.

"Ferries will continue to travel as normal and there will be no changes to routes or schedules," he added. "It will be business as usual."

Joel Brandon-Bravo, UK managing director of travel deals company Travelzoo, warned that the referendum result would have an impact on the tourism industry in several ways.

He said: "The next 24 months of negotiations will be crucial for British travel - particularly if the UK Government wants to maintain inbound tourism from the EU, and avoid a price hike for Britons wanting to travel abroad for holidays.

"Obviously top priority is dealing with the impact the referendum result will have on the value of the pound, but there are other factors that could make the result a big blow for the travel industry."

Mr Brandon-Bravo urged the Government to quickly negotiate how an independent UK will operate in the European Common Aviation Area.

Travel organisation Abta warned during the referendum campaign that foreign travel was "likely to become more expensive" following Brexit.