Travellers are now getting less than one euro to the pound in most UK airports, according to a report by the BBC.
The average rate available at 17 airport bureaux de change is now just 99 euro cents to the pound, the BBC said, citing a survey by currency exchange firm FairFX.
Moneycorp at Southampton airport features the lowest rate, at just €0.88 to one pound, while the best rate is €1.06 at the Change Group at Glasgow Prestwick.
The current wholesale market rate is €1.10, but the currency has been dropping like a stone and could go lower.
The dollar rates weren’t much better. The survey found that travellers were getting rates as low as $0.97 to the pound from ForExchange at Cardiff airport.
Sterling hit a fresh 31-year low against the dollar in early trading, falling below $1.23 for the first time since 1985, with currency markets concerned that the UK economy will take a hit from a so-called “Hard Brexit.”
The currency fell off a cliff around 7:45 a.m. BST (2:45 a.m. ET), plunging to a low of $1.2285 soon before 8:15 a.m. BST (3:15 a.m. ET). That is a fall of more than 0.6% from the open.
Here is the chart:
And here is sterling’s performance against the euro: