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INTERNATIONAL: The pound is now worth less than the euro

By Independent (UK)

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poundsINDEPENDENT (UK) – Holidaymakers at UK airports are being offered less than one euro to the pound as sterling’s value continues to plummet following UK’s vote to leave the EU.

Bureaux de change at 17 airports across the UK are showing the average rate available as just 99 euro cents to the pound.

Moneycorp at Southampton airport features the lowest rate, at just €0.88 to one pound, while the best rate is €1.06 at the Change Group at Glasgow Prestwick, according to a survey by currency exchange firm FairFx.

The US dollar rates were not much better.

The survey found that travellers were getting rates as low as $0.97 to the pound from ForExchange at Cardiff airport.

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4 comments

  1. America has been blaming China for more than a decade now for "currency manipulation"; that is devising a trade advantage for keeping it's currency value down. China has experienced significant economic growth and "undreamed" of wealth due to it's low cost of production.

    Don't be too quick to judge reductions in currency value. You have to look at what happens to "real" output of goods and services first.

    Economics is not as straight forward as people think. Actually it's the most inexact of all the sciences. At best it's all about "scientific" predictions based on empirical data and expected reactions from all sectors.

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  2. This means less and less British tourist for St. Lucia. I am also sure some bank will close on the island. Keep as little money as you can in the banks.

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  3. They brought this on themselves with their racist Brexit decision

    (5)(0)
  4. London Bridge is falling down, falling down, my fair lady (Theresa May). If the Pound continues to fall then Theresa may have to issue a Mayday call.

    (3)(0)

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