So what does all this mean for your holidays and travel money?
The Post Office is currently offering an exchange rate of €1.0846 for over £400, €1.1003 for over £500 and €1.1060 for over £1,000.
In good news for those heading abroad, Post Office Travel Money found in its latest research that falling demand for hotel rooms since Covid-19 took hold in March means that accommodation prices have plummeted across Europe, leading to big reductions in the cost of city breaks.
The annual City Costs Barometer, which compares the cost of meals, drinks, city transport, sightseeing and accommodation in European cities, found last month that prices have plummeted in 22 of 24 cities in countries exempt from quarantine rules.
The biggest fall in the cost of 12 city break items surveyed was in Dublin, where prices are down 25.5 per cent, but, across the border in Northern Ireland, prices are 22 percent cheaper.
Belfast saw the second biggest fall of 25.2 percent, making it the best value UK capital with a barometer cost of £253.
Source:Daily Express :: Travel Feed