The latest quarterly holiday money index released by the Post Office Travel Money reveals eight of the top 10 fastest-growing currencies are in the long haul market.

Demand for the Danish kroner may have grown by 52%, putting it in the top slot, but it is followed by the Chilean peso, demand for which grew 31%.

Third spot was taken by the Japanese yen following 29% growth while the Brazilian real grew 24%. The Indonesian rupiah grew by 23% followed by the South African rand having gone up 20%.

Eighth spot was taken by the Croatian kuna, the only other short-haul currency, followed by Peru’s nuevo sol and the East Caribbean dollar.

Overall the euro remains the Post Office’s most popular currency, followed by the US dollar, the New Zealand dollar, Australia’s dollar and th South African rand.

Andrew Brown, head of Post Office Travel Money, said: “Sales of long-haul currencies are booming.

“This suggests a move towards holidays further afield - especially as it is being reported that long haul destinations are competing well on price with European ones, where package prices are rising.

“In the case of the USA, we believe some people who would have visited Egypt have swapped Sharm el-Sheikh for Florida.

“Prices in Orlando remain very attractive for families on a strict budget.”