Holidays in Europe are no longer the cheap option for British families as the pound continues its nosedive against the Euro.

As markets closed yesterday the pound had dropped to a record low against the euro. The euro is now worth more than 80p – the worst exchange rate for Britons in the single-currency's nine-year history.

The pound has fallen a fifth against the euro in just six months which means families travelling to Europe will now get far less for their money than they would have done a year ago. Last November, the euro was worth 69p, meaning £100 would buy €145. At today's rates it will fetch only €125.

Despite the rising cost of the euro, families are continuing to head abroad with the Post Office reporting euro sales up 29% over Easter.

But experts say that we haven't seen the worst of it. They're predicting further falls and say the prospect of lower interest rates will only weaken Sterling further.

The article Brits abroad hit by worst exchange rate in history originally appeared on 999 Today