Travellers are facing huge losses by changing their money, with UK exchange bureaus offering just 85 cents against the British pound.
Global investors are preparing for another day of huge changes in the value of sterling volatility.
On Tuesday morning the pound was slightly higher in early trading, at the $1.08 mark, after hitting an all-time low around $1.035 yesterday morning. It is down 7 percent so far this month.
Exchange bureaus are however marking down sterling even lower, well below parity with the dollar, after taking their own commissions and fees into account.
The value of sterling is expected to parity with the US dollar by the of November, and then fall to just $0.97, according to the latest forecast from bank Nomura.
By the first quarter of 2023, sterling would be worth $0.95, the bank says.
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