What The Pound 3% Fall Means To Your Everyday Life - Main Points Of David Cameron's EU Agreement - Funny Yet Disturbing Donald Trump Gladiator Video Goes Viral - Some Digital Goods And Services Now Taxed According To The Customer Location

Miguel Carvalho

Implications Of The Pound 3% Fall To UK's Everyday Life

By Miguel Carvalho 2016-02-26 Economy Comments

Brexit fears cause the biggest British Pound drop since the 2009 recession.

GDP-USD currency lowest values

GDP-USD currency lowest values since the 2009 recession.

The Brexit concern brought volatility to the Pound with an over 3% drop in just a week's time. The Pound value went as low as in the 2009 global recession level.

The EU referendum is now scheduled for 23th June which makes it less than 4 months UK's decision time over a Yes or a No to Europe.

The Goldman Sachs Group has already stated the sterling may fall by 20% if Britain quits the EU.

According to the HSBC, the Brexit possibility could cause the pound to hit parity against the Euro during 2016.

Why is the pound being devalued?

The uncertainty about the referendum outcome is leaving investors worried about the UK’s economic prospects. There's a greater reluctance to hold on to pound based assets. Overall business and investment usually shy away from uncertainty, hurting the overall economy.

Will my overseas vacations become more expensive now?

When travelling abroad, your vacations could now be 3% more expensive than the previous week. On a weaker pound, travellers need to spend more when buying foreign currency. For example, travelling to the United States will now get you 3% fewer dollars for your pounds.

Will prices rise in the UK?

Imported goods may become 3% more expensive than last week. A lower pound could make foreign goods pricier.

I'm living overseas while on a UK income. Will I get affected?

British expats with a weaker pound might get less foreign currency.

Will my business get affected by a weaker pound?

If you're an exporter, your business could get more sales because customers might be able to buy cheaper goods.

If you're an importer, a weaker pound could make import goods pricier.

This Friday, David Cameron sealed the UK-EU deal and took the opportunity to announce the EU referendum. Since that day, the pound went from 1.4406 to today's 1.3871 values (in relation to the US dollar). This means the pound took a 3.713% drop in just a week's time.

Brexit causes biggest pound drop since the 2009 recession



Comment
Economy

Watch pizzas flying with drones in Russia.

To determine the correct EU VAT tax, your business is now required to known the consumer location. Even if you're selling from outside the EU.

The OECD published a report that analyses the economic consequences of the United Kingdom exit from the European Union.

Brexit fears cause the biggest British Pound drop since the 2009 recession.

Barclays exits retail banking in Portugal.

To determine the correct EU VAT tax, your business is now required to known the consumer location. Even if you're selling from outside the EU.

The European "information exchange" law has lifted the veil of bank secrecy.



Just in

(VIA.News) During 2 hours on 14 May, people gathered at the Trafalgar Square to form a peace sign with their bodies.

The OECD published a report that analyses the economic consequences of the United Kingdom exit from the European Union.

Donald Trump satirical and graphic video is going viral.

Name.com April fool's day funny video

An alleged pressure from Turkey so that Germany removes a satirical video aired by NDR a few weeks ago had a surprising effect.


Most Read Lookers

Comments