Time to rush in to Russia...

Russian tourist hotspots Red Square and Saint Basil's Cathedral. Photo / Getty Images

Kiwi dollar has fallen in traditional hotspots, but some far-flung locations becoming cheaper

The kiwi dollar is losing ground in traditional holiday hotspots overseas but a break to Russia has become much cheaper.

The dollar has dropped 24 per cent in the past year against the United States and Chinese currencies and 20 per cent against the Thai baht.

An Expedia Value Tracker survey shows the kiwi has fallen by 16 per cent against the British pound and 12 per cent against the Fijian dollar.

The figures to mid-July show the fall against New Zealanders' favourite destination, Australia, was just 4 per cent.

However, spending power is up 26 per cent in Russia - where the ruble has tumbled following economic turmoil - in Colombia (10 per cent) and host country of the next Olympics, Brazil (8 per cent).

And while they're losing on the currency, intense competition among airlines is keeping the New Zealand dollar price of airfares down to most places, falling by up to 16 per cent over the last year.

Average flight prices to Australia are down 12 per cent to an average $452 and accommodation rates have risen just 1 per cent to to $224 a night.

Managing director of Expedia Australia and New Zealand, Georg Ruebensal, says Kiwis are smart travellers who chase value for money. "While the dollar may not be as strong as it has been in the past, Kiwis are still in an excellent position to get out there and tick off destinations on their bucket list. We are seeing strong demand for holidays to Australia." Flights and accommodation in Brazil are also more affordable than they were a year ago.

The New Zealand dollar hit US88c against the greenback last July but has since retreated as interest rates here fall and rise in the US. Last night the kiwi was trading around US66c.

Flight Centre said anyone worried about the extra cost of travel to places such as the US should consider an organised tour. Booking and paying ahead of time could mean holidaymakers wouldn't be so badly affected by the impact on their budget for food, hotels, transport and activities.