UK holidaymakers and business people travelling abroad will have to pay more for foreign currency as the pound plunged to its lowest level since 1985 on Friday June 24.

Following the EU Referendum result, the pound was down against every major currency group, crashing 10% against the dollar to a $1.33 low that hasn't been seen for more than 30 years.

Bank of England governor Mark Carney subsequently stepped in to announce £250bn of support to the markets and that saw sterling creep back from the low and reach $1.392.

Back in November, if you took a trip to the United States you could cash in £100 for $152.90.

If you took another trip in early May this year, you would have got $144.80 - more than £5 less.

Not so much for your pound

But on Friday afternoon you would have got just $139, meaning your money has lost around 10% of its value within months.

Read more: How Buckinghamshire voted

During the referendum campaign, travel organisation ABTA warned foreign travel was "likely to become more expensive" if the UK voted for Brexit.

It published a report which stated that holidaymakers and business travellers might face increased costs if an exit vote led to a fall in the value of sterling.

Managing Director of Andrew Shelton said speculation had already begun as to how Brexit would affect the price of travel to Europe.

He said: "Today's referendum result will throw the spotlight onto many benefits [that] British travellers have taken for granted for years.

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"Chief among these will be the European open skies agreements which created the environment for the budget airlines to thrive and which may now have to be renegotiated, a robust UK currency that has made the Eurozone so cheap to visit, the end of mobile data roaming charges, free healthcare within the EU and unlimited shopping allowances."

But Mr Shelton said the result did not mean "all is lost".

"The UK travel market is vital to the economy of many European countries and regions," he added.

"It will be in their interests to seek ways to maintain the status quo.

"We believe a lot of effort will be made in the coming months and years to ensure the UK cash cow isn’t put out to pasture."

One thing to remember though... at the moment Britain is STILL a member of the EU and negotiations to leave could take years.