I haven't been to Malta but I found it strange that my holidays to Greece and Fuertaventura this year, the rate was the same in the UK and Greece , and for Fuerte I actually got a better exchange rate in the UK.
I have looked up the Malta bank rates and it is the same as here.
If I were you I would check just before you go and see if it's still the same.
Are you going soon?

Hi, leaving 22 Dec. For 2 wks
. Rate is really poor now and it's forecast to be worse.

I checked online to see who had best exchange rates. It varies every day! The best exchange rate is never ( in my experience) one you can get on the day. They give you an exchange rate for that day and one for a pick up 1 to 2 days later. The best rate for my most recent holiday was Tesco. This did not show on the comparison website I used.