Pound not stretching as far as 2008

Brits deciding whether to head abroad or stay at home this summer may be interested in recent research into currencies that shows the pound has diminished over the past year.

In comparison to many major destinations, the UK has suffered over the last year, falling 17.74 per cent against the dollar, according to the Sainsburys Bank statistics.

Holidaymakers heading to the eurozone may also find their spending money stretched, with the pound 8.29 per cent down on the euro since June 2008.

Sainsburys Travel Money Sam Marrs said: "Sadly, the fall in value of the pound means that holidaymakers may need to exchange more money than they did last year."

Only those travelling to Turkey will find it is cheaper, after sterling rose 2.1 per cent on the lira.

However, South Africa, Egypt and Thailand are all now more expensive for UK travellers – a fact that may encourage some to invest their pounds in a conservatory to help them make the most of the British summer.

Such a move would see them add what is perceived to be one of the top three space-making home improvements in terms of increasing the value of a home, according to a recent Halifax study.