The pound lost nearly a third of its value against Brazil's currency during the course of 2016 as it was priced down around the world. The sterling exchange rate with the real showed the biggest sell-off but the pound weakened by a fifth against nine other global currencies, including the Russian rouble, the Colombian peso and the Zambian kwacha. Research by Lloyds Private Banking into 60 currencies found the biggest declines in sterling were against the Brazilian real, with a 28.4 per cent fall, the Russian rouble, with a 28 per cent slide, and the Icelandic krona, with a 27.9 per cent fall. Holidaymakers booking trips to any of these destinations in 2017 will get significantly less for their pounds than they would have a year ago - but that's not to say they have suddenly become expensive places to go. While Russia will be, it's likely UK travellers will still find Indonesia good vale - albeit less so than this time last year. Sterling had a strong year in 2015 and appreciated against more than three-quarters of the currencies surveyed by Lloyds. But even before the Brexit vote of June this year it was losing ground to many world currencies. After the vote to leave the European union, the losses continued and though sterling stabilised in the last quarter of 2016, it fell against 56 of the 60 currencies over the 12 months. The pound did make significant gains against two currencies last year, Lloyds said. These were the Egyptian pound, against which sterling rose by 105.8 per cent, and the Mozambique metical, against which the pound increased by 23 per cent. Sterling also increased by 0.3 per cent against the Turkish lira and remained unchanged against the Danish krone. Lloyds said the performance of sterling in the six months before and the six months after June's Brexit vote followed a similar pattern. Sterling declined in value against 54 out of the 60 currencies analysed in the six months leading up to the EU referendum, and fell in the six months after the referendum against 51 countries. Peter Reid, expatriate banking director at Lloyds Private Banking, said: 'The pound's decline is bad news for British holidaymakers, with most destinations becoming more expensive in 2016. 'Many British expats will also be feeling the pinch; those with incomes in sterling such as pensioners are getting fewer pounds when converting their money. 'However, on the other end of the bargain, British expats living and working abroad and earning in foreign currencies are now getting more pounds for their money and they are seeing their spending power surge when they head back to the UK.'
