Bad news for all the French, Italian and Spanish workers in London (who earn in pound and spend in euro): the pound has fallen to a new record low against the euro today. And also for English people this means problems and a growing fear about the strength of the British coin.
“The euro climbed to 87.79p against the pound on the currency markets, building on a previous high of 87.73p,” reports the Timesonline.co.uk. “At the same time, sterling hit $1.4765 against the dollar”.
The British pound has been weakening during the economic downturn: in the past 12 months the sterling has fallen 17.4% against the euro and 27.1% against the dollar. The pound is now almost euro parity… is it time to change and accept the euro?
Now £100 are changed for €114.13; amazing news for tourists in Europe!