International

Britain's election drives weaker pound

During the 2010 general election campaign, which resulted in a hung parliament with no single party winning an overall majority, the pound fell more than seven per cent in value from uncertainty as Labour and the Conservatives both negotiated a coalition with the Liberal Democrats.

The pound’s strength has grown 11% against a basket of other currencies in the last 12 months, hitting a near seven-year high in the process, reports City Index, a foreign exchange broker. However, sterling fell to a five-year low of $1.4567 in April. It is currently trading at $1.5294 and falling ahead of the May 7 general election.




Our code of editorial values

Related Topics
This article is closed for comments.
Please Email the Editor

Printable version | Oct 22, 2021 11:05:21 PM | https://www.thehindu.com/news/international/britains-election-drives-weaker-pound/article7162035.ece

Next Story