Video: Pound loses value against major currencies

Mon 09 Jan 2017 12:28 PM
According to a report by Lloyds Private Banking, the British currency’s biggest declines were against the Brazilian Real and the Russian Rouble, with around a 28-percent fall.

The report says the Pound declined in value against some 55 out of the 60 currencies the bank analysed in the six months before and after Britain’s vote last June to exit the EU.\n\nThe British Pound is also expected to struggle through 2017, amid rising inflation and protracted uncertainty among businesses regarding the country's future trading relationship with Europe following Brexit.\n\nA similar report in 2015 showed the Pound had been gaining against more than three-quarters of the currencies surveyed.\n\n(Source: PressTV News Videos YouTube channel)