Brexit Fears Push Sterling Values Down
Brexit Fears Push Sterling Values Down
Published : 16-Mar-2016 09:42
(The pound still buys more than a year ago in Norway, above, just)
The pounds has dropped in value against leading ski currencies over the past month due to 'Brexit' fears, according to global currency business Centtrip.
The company says that, compared to values a year ago, the pound is now only up in value, by 3.1%, against the Norwegian Kronor. This is different to the position a few months ago when the pound was up against most 'ski currencies' except the US dollar.
Sterling has fallen in value by between 0.8% and 10.1% against nine popular 'ski currencies' according to Centtrip.
The biggest drop (based on the exchange rate on 25th February 2015 against the rate on 25th February 2016) is against the US Dollar whilst the Canadian dollar exchange is only down 0.8%.
The pound is down against the Euro by 7.2% and the Swiss Franc by 6.2%. It is also down again Eastern European currencies including the Bulgarian Lev (7.3%), Romanian Leu (6.2%) and Polish Zloty (2.5%).
"The current uncertainty around whether the UK will stay in or leave the EU is leading to increased volatility around Sterling, and those Brits going skiing or snowboarding now are likely to have less spending power than they did a year ago," said Tony North, Co-Founder and Co-CEO, Centtrip who offer a multi-currency prepaid MasterCard which the company says is a cheaper way to take money abroad than other methods.
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