News0 min ago
With The Value Of The Pound Sinking In Value..
2 Answers
..against other currencies should we take comfort from Harold Wilson's word many years ago?
Almost half a century ago, Prime Minister Harold Wilson told the country: "From now the pound abroad is worth 14% or so less in terms of other currencies. It does not mean, of course, that the pound here in Britain, in your pocket or purse or in your bank, has been devalued.”
Has Brexit played part in this?
Almost half a century ago, Prime Minister Harold Wilson told the country: "From now the pound abroad is worth 14% or so less in terms of other currencies. It does not mean, of course, that the pound here in Britain, in your pocket or purse or in your bank, has been devalued.”
Has Brexit played part in this?
Answers
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A weak pound isn't all bad news, as it makes it easier for our exporters to sell their products abroad. However it pushes up the price of imports, including fuel and food, and means that those who travel abroad will find things more expensive to buy there.
There are many causes but a weak pound basically comes about when foreign investors don't want to put their money into the UK because they view our economy as very weak. Brexit certainly hasn't helped but there are plenty of other factors coming into play too. See here for a summary of the causes:
https:/
[PS: Please post questions like this one in News, or in Business and Finance, in future, leaving Chatterbank free for less serious stuff].
There are many causes but a weak pound basically comes about when foreign investors don't want to put their money into the UK because they view our economy as very weak. Brexit certainly hasn't helped but there are plenty of other factors coming into play too. See here for a summary of the causes:
https:/
[PS: Please post questions like this one in News, or in Business and Finance, in future, leaving Chatterbank free for less serious stuff].
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