Thirty years ago, on September 16, 1992, currency speculators forced the British Government to abandon the commitment of pound sterling to the European Exchange Rate Mechanism. In the days that followed “Black Wednesday,” sterling subsequently lost 15% of its value. By early 1993, it had lost almost one-third of its value. The pound’s recent weakness – last week, it fell to its lowest level against the US dollar since 1985 – has understandably evoked memories of this earlier episode, leading some to compare the pound to an emerging-market currency. But the comparison is imprecise and arguably inaccurate. Whatever its current economic travails, the United Kingdom retains strong institutions,
Hence then, the article about is the pound close to breaking point was published today ( ) and is available onGulf Times ( Qatar ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Is the pound close to breaking point? )