The current instability of exchange rates for the British Pound.
June 2, 2016 8:41am CST
The exchange rates for the British Pound seem very volatile at present. A couple of weeks ago my neighbour bought Euros at a rate of 1.24 per £, at which time the rate was falling daily. A couple of days ago they were on sale at 1.278 per £ and when I bought some today they were down to 1.261 per £. This is still a good rate, but the amount of fluctuation recently has been well above the usual expectations. I can only assume that the upcoming EU referendum is causing this instability, which we experienced during the Scottish referendum a short while ago.
12 people like this
• Manchester, England
2 Jun 16
After the referendum on 23rd June it will settle down more. If Britain votes to remain in the EU it should return to the previous average exchange level, but a vote to leave will possibly result in an unpredictable change which could be higher or lower.
• Northampton, England
2 Jun 16
I'm off to Madeira on Sunday and I hate to think what the rates will be like as we approach the referendum. People just won't listen. All the experts say 'don't go' and yet people think idiots like Boris and Nigel can be 'trusted' to renegotiate trade deals if we leave. I wouldn't trust them to renogotiate a parking fine.